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.
The people of conflict-torn Manipur will have every right to feel betrayed if the new government doesn’t break its silence and show its commitment to addressing the state's issues.
Move to bring down differences in commodity prices with neighbouring states, says government. Oppn, dealers blame it on welfare, Congress's guarantees.
Occasional lovers’ tiffs have marked history of RSS-BJP relations. To think that Nagpur will bring about any change in leadership is a misreading of both its intent and its power.
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