The transfer of surplus and excess capital is the right step, but the problem should not be left ambiguous in law. Parliament must debate and amend RBI Act.
While IAS officer Atri Bhattacharya was questioned last week in Saradha scam, also under the radar are retired IPS officer Surajit Kar Purakayastha & Principal Secretary to CM Gautam Sanyal.
When purchasing power dries up so much that rural labourers & urban blue-collar workers have to think twice about biscuits, then the situation is desperate.
Businesses aren’t investing thanks to mistakes made by UPA. But Modi 1.0 must share the blame for muted financial reforms, partisan telecom policy etc.
Rates of 1-litre milk packets to come down to discourage purchase of multiple plastic packs. Govt also plans to incentivise return of pouches to suppliers, & recycle them.
Union Road Transport and Highways Ministry set to notify proposal that includes a fine of Rs 5,000 for those speaking on the mobile phone while driving.
The 1991 liberalisation left the financial sector unreformed. The uncompetitive finance system whose growth depends on taxpayer bailouts needs to be replaced.
In May 1974, RSS chief Madhukar Dattatraya Deoras spoke at a lecture series in Pune about caste-based discrimination and social equality within the Hindu fold.
SEBI probe concluded that purported loans and fund transfers were paid back in full and did not amount to deceptive market practices or unreported related party transactions.
While the IAF remains committed to the Tejas programme and has placed orders for 180 Tejas Mk1A, the force is eagerly waiting for the Tejas Mk 2 version.
What Munir has achieved with Trump is a return to normal, ironing out the post-Abbottabad crease. The White House picture gives us insight into how Pakistan survives, occasionally thrives and thinks.
I am not a fan of framing a law to regulate each activity, including how many glasses of water one should drink each day. Consider the FRBM Act and how successive governments have made short work of it. How many cusses are quietly merged into the general revenues of the government, not spent for the designated purposes. 2. As far as transfer of surplus is concerned, Revaluation reserves are clearly a no no. Why should at least one third of each year’s genuine earned surplus not be added to the reserves. That is how the RBI has something in the bank, when the rest of the government is so clearly broke. 3. The Governor is the custodian of the RBI’s long term institutional interests. History will make its judgments.
I am not a fan of framing a law to regulate each activity, including how many glasses of water one should drink each day. Consider the FRBM Act and how successive governments have made short work of it. How many cusses are quietly merged into the general revenues of the government, not spent for the designated purposes. 2. As far as transfer of surplus is concerned, Revaluation reserves are clearly a no no. Why should at least one third of each year’s genuine earned surplus not be added to the reserves. That is how the RBI has something in the bank, when the rest of the government is so clearly broke. 3. The Governor is the custodian of the RBI’s long term institutional interests. History will make its judgments.
cesses…