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Digvijaya Singh slams Narendra Modi govt after RBI transfers Rs 1.76 lakh, says Centre 'has no clue what terrible recession our country is facing'
•Senior Congress leader Digvijaya Singh on Wednesday slammed the Prime Minister Narendra Modi-led Central government after the Reserve Bank of India decided to transfer Rs 1.76 lakh crore to Centre
RBI to transfer highest-ever surplus of Rs 1.76 lakh cr to govt; all you need to know about central bank's excess capital
Fp Staff •The Narendra Modi government and the RBI under its previous governor Urjit Patel had been at loggerheads over the optimum level of surplus capital with the central bank.
RBI is the new LIC for govt to rescue economy; with Rs 1.76 trillion bonanza, it just saved Nirmala Sitharaman from a fiscal embarrassment
Dinesh Unnikrishnan123 •This RBI-sponsored stimulus package is also a major face-saver for Finance Minister Nirmala Sitharaman who has been caught in an extremely difficult fiscal situation.
Govt gets windfall gain of Rs 1.76 lakh cr from Reserve Bank of India; raises expectation of fiscal stimulus
•A source familiar with discussions said the government will use the funds to stimulate the economy by cutting taxes
RBI to transfer Rs 1.76 lakh cr surplus to Centre, accepts Bimal Jalan panel recommendations
Fp Staff •The Bimal Jalan committee, constituted to assess the adequate size of capital reserves that the RBI should hold, submitted its report today
RBI may cut interest rates by 40 basis points before this fiscal-end; monetary easing insufficient to boost economic growth: Fitch
•RBI has cut interest rates four times this year but the transmission of the same by banks to borrowers has lagged.
Bimal Jalan panel to submit report to RBI soon; suggests transfer of cental bank’s surplus capital in tranches over 3-5 years
•The six-member panel, under former RBI governor Jalan was appointed on 26 December 2018, to review the economic capital framework for the RBI.
In the shadows of a debt crisis: A closer look at how IL&FS episode unfolded and impacted the larger economy
Manasi Karthik •IL&FS has not just failed to bring private capital into the infrastructure sector but has used public assets to create opportunities for itself
RBI capital transfer: Bimal Jalan panel likely to get extension to finalise report; govt to replace its representative after SC Garg's transfer
•The government and the RBI, during the tenure of the previous governor Urjit Patel, had been at loggerheads over the surplus capital with the central bank.
Subhash Chandra Garg’s exit and Bimal Jalan report: Did dissent on surplus transfer trigger top official’s ouster from FinMin?
Dinesh Unnikrishnan123 •The ECF is one issue, but Garg has spearheaded too many controversial battles for the Finance Ministry with the RBI.