The Union Budget for 2019-20 is likely to spell out a roadmap for banking reforms, including consolidation of the state-owned lenders, with a view to enable the sector to play a pivotal role in pushing India towards $5 trillion economy, sources said
What the Economy Needs Now is a collection of essays by Indian economists, each tackling an issue facing the country, and providing suggestions for economic growth.
The next few days will be very crucial for the central bank and markets and the earlier a decision taken on Urjit Patel's resignation, the better it will be to eschew speculation
India should brace itself for slowdown for some time; agriculture, financial system under stress, says ex-CEA Arvind Subramanian
Speaking at the release of his book, Of Counsel: The Challenges of the Modi-Jaitley Economy, Arvind Subramanian said, both demonetisation and implementation of Goods and Services Tax (GST) have resulted in moderation of the economy
With 32% NPAs on its books, IDBI Bank is now the bad loan King in India: Ring a bell, dear LIC policyholder?
IDBI Bank is the target bank Life Insurance Corportation (LIC) is in the process of acquiring using policyholders’ hard-earned money.
India fastest growing economy in Asia; on track to meet FY18 target of 7.3%, accelerate to 7.6% in FY19: ADB
Led by India, South Asia will continue to be the fastest growing economic area despite new trade tensions in Asia and Pacific region, Asian Development Bank (ADB) said in a new report today.
IMF lowers growth rate for India to 7.3% in 2018, 7.5% in 2019, but it still retains world's top spot
India continues to outperform China, IMF's WEO update figures reflect. Growth in China is projected to moderate from 6.9 percent in 2017 to 6.6 percent in 2018 and 6.4 percent in 2019, as regulatory tightening of the financial sector takes hold and external demand softens, the report said.
Bad loans mess: Forensic audits at PSBs are a good start, but structural reforms are the need of the hour
Forensic audits of PSB loan accounts will be useful only if learnings are used to frame better policies and implement substantial structural reforms.
Look beyond bank recapitalisation: Budget announcements may help speed up bad loan hive-offs for PSBs
Banking reforms may be a slower process, but the monkeys of bad loans may be off the back of public sector banks sooner than we think.
For both critics and fans, 2017 belonged to Narendra Modi; will Gujarat slow down his reform juggernaut in 2018?
Narendra Modi govt is facing a difficult task in shaping the budget this year on account of less than expected revenue collections from GST
"Reform agenda is the highest priority which has to be implemented along with capitalisation. A whole lot of reforms will come so that genuine borrowers don't suffer and get hassle-free, need based credit," Financial Services Secretary Rajiv Kumar said.
Narendra Modi's Gujarat speech: If bank nationalisation was Indira’s drama, he has a chance to undo it
Narendra Modi's claim on bank nationalisation is not entirely correct. It has indeed helped improve access to formal banking to the poor in far flung areas
Most of these pending reforms are likely to take a backseat if Rahul's suit-boot-ki-sarkar jibe continues to play at the back of Modi's mind
More than the number game, the huge public mandate will give a psychological advantage to Modi in the House and will help the government progress on the reforms agenda, mainly the remaining work on GST, and later the politically sensitive land and labour reforms
During his speech, Jaitley said the government will take care of the additional capital requirements of these banks, but past experience have shown such assurances have hardly materialized.
At the end of its 5-year tenure, banking sector reforms will be watched closely to evaluate this government’s willingness and ability to undertake ‘bold’ reforms. The UPA, under Manmohan Singh, failed to initiate bold reforms in the banking sector. Narendra Modi shouldn’t repeat the mistake.
Patel has taken over the charge from Rajan after serving as deputy governor of RBI since January 2013. He was reappointed as deputy governor on January 2016.
The responsibility of acting on recommendations such as reforming state-run banks and bringing in bankruptcy laws, rests with the government.
The 2015/16 budget is billed as a "make-or-break" event for Prime Minister Narendra Modi's eight-month-old government.