RBI deputy governor post has been lying vacant since N.S. Vishwanathan retired on 31 March. He was in charge of portfolios including banking regulation.
RBI’s transfer is slightly less than the Rs 60,000 cr estimated in Budget 2020-21, and is unlikely to plug the hole in revenues due to Covid and the lockdown.
Fear of probe agencies investigating bad loans left a deep scar on banking officials, raising their risk-averse nature to lending. RBI wants Kamath panel to take care of those fears.
RBI has accepted bankers’ demand for one-time loan restructuring instead of extending the moratorium as a way of countering the impact of the Covid-19 pandemic.
For nearly five months now, RBI has kept many of its staff and vendors, among others, isolated in a hotel and run payments system from its data centre in Navi Mumbai.
Policies like deficit monetisation, loan restructuring, higher tariffs and import licencing have been brought back to combat the economic fallout of Covid-19.
Experian Plc told RBI in July that HDFC Bank has been late in providing details of its loans, including repayment status of millions of retail borrowers.
RBI expects headline inflation to remain elevated in the second quarter of 2020-21. It also sees real GDP shrinking in the first half as well as the full year.
National Testing Agency’s charter is to assess the 'competence of candidates' for admission and recruitment, but NEET and UGC-NET firestorms have put its own competency in question.
The report predicts net emigration of 4,300 millionaires in 2024, lower than the outflow in 2023 & 2022. Congress has raised concerns about the outflow of HNIs from the country.
Lt Gen Nilakantan says revised Entitlement Rules & Guide to Medical Officers for pensions had been revised to rationalise disability classification, quantification & granting of disability.
Changed reality for Modi govt in its 3rd innings is by no means rise of a new phenomenon. It's a return to old normal where even majorities had to routinely wrestle with storied million mutinies.
COMMENTS