(LiveMint) The functioning of the Reserve Bank of India (RBI) is to soon come under greater scrutiny of Parliament. The Standing Committee of Finance is proposing to examine the quality of supervision and oversight of financial institutions, inflation targeting guidelines and monetary transmission, and a performance appraisal of the banking system. All these issues intersect with RBI. “One of the topics that we will be taking up in the committee, and it reflects widespread consensus among members, is the functioning of the RBI and what we can do to further strengthen the institution,” Jayant Sinha, chairman of the standing committee on finance, said in an interview.…
Author: Aruna Sharma
(PTI) Delhi Chief Minister Arvind Kejriwal said a final call on extending the odd-even scheme would be taken on Monday as the air quality is expected to improve in the next two-three days. “We do not want people to undergo unnecessary inconvenience,” Kejriwal said at a press conference here on Friday. “Air quality is predicted to improve over the next two-three days. A final call on extending the odd even scheme will be taken on Monday,” he said.The road-rationing scheme, rolled out on November 4, ends on Friday. “The residents cooperated very much in implementation of the scheme. There were 250-300 challans…
(PTI) The country’s largest steel maker SAIL on November 14 posted a loss of Rs 342.84 crore for the July-September quarter of the current fiscal due to demand contraction and moderation in prices. The steel PSU had posted a standalone profit of Rs 553.69 crore in the second quarter of the previous fiscal. Income during the second quarter declined to Rs 14,286.18 crore, from Rs 16,832.37 crore in the year-ago period, SAIL said in a regulatory filing.Total expenses also fell to Rs 14,809.21 crore during the quarter from Rs 15,950.21 crore in the corresponding quarter of the previous fiscal. The second quarter result was affected…
Ms. Kalli Purie, Vice-Chairperson of India Today Group, was conferred upon the prestigious IWEC award on November 12th in New Delhi. It is a notable accolade for Ms. Purie and the India Today Group since only a few weeks back she was also honoured with the ‘Outstanding Media & Entertainment Award’ at the annual 21st Century Icon Awards in London as well as ‘India’s Most Powerful Women in Media’ award at the famed Confluence Excellence awards at the British Parliament. Ms. Purie’s contribution to the field of media has been of immense importance and her clear vision about the future of news is nothing short of exemplary.…
(ET) India will allow global energy companies to bid during the strategic disinvestment of state-run oil companies, oil minister Dharmendra Pradhan has said. He added that the proposed partnership with Saudi Aramco and Abu Dhabi’s ADNOC for building a $44-billion mega refinery complex in Maharashtra was on “right track”. Reports from Abu Dhabi, where Pradhan is attending the energy conference and exhibition ADIPEC, quoted the minister as saying that the doors for foreign direct investments in India’s fuel retail market were opened by Prime Minister Narendra Modi when he met oil company bosses in Houston during his recent US visit. The Prime Minister’s round-table was attended,…
(PTI) Reliance Industries on Wednesday began its arguments against a 2017 Sebi order barring it from the equity derivative market in the Securities Appellate Tribunal, claiming it had done no wrong in the case. The Sebi had barred the company and 12 of its promoter group entities from dealing in equity derivatives.The watchdog had barred the company and the entities for alleged unfair trade practices related to the securities market. Appearing on behalf of RIL, senior counsel Harish Salve said there is nothing in the law which would prevent the company from undertaking the transactions for which it was acted against…
(FE) India is pushing for a complete restoration of duty-free export benefits under the so-called Generalised System of Preferences (GSP) by the Trump administration, and not just a partial relief as indicated by the US earlier, as the two sides are in an advanced stage of hammering out broad contours of a limited trade deal. Commerce and industry minister Piyush Goyal is in the US to hold talks with US Trade Representative Robert E. Lighthizer later on Wednesday (Washington time). The limited deal could cover India’s willingness to extend greater market access in agriculture and also sweeten its initial offer…
(FE) Improper or unauthorised use of photograph of Prime Minister or President for promotion of trade and business may soon attract fine of Rs 1 lakh and repeat offence Rs 5 lakh and up to six months jail. Currently, the penalty for such offences including the improper use of national emblems such as the National Flag, Ashok Chakra, official seal of Parliament, Supreme Court etc is merely Rs 500 and there is no provision for higher fine for repeat offence. The consumer affairs ministry has proposed these changes in the Emblem and Names (Prevention of Improper Use) Act. The current provision…
(PTI) India is the world’s most “open and investment friendly” economy, Prime Minister Narendra Modi said here on Thursday as he wooed the BRICS business leaders, urging them to invest in the country and take advantage of its “limitless” possibilities and “countless” opportunities. Addressing the closing ceremony of the BRICS Business Forum, prime minister Modi said the grouping of five countries had led to economic development despite the global economic slowdown. “India is the most open and investment friendly economy in the world due to political stability, predictable policy and business friendly reforms. By 2024, we want to make India a five trillion…
(FE) Gujarat Cabinet on Wednesday announced Rs. 700-crore relief package for more than four lakh farmers who suffered heavy losses due to unseasonal rain in the state. “The decision was taken in the cabinet meeting chaired by chief minister Vijay Rupani. Compensation would be given to farmers as per the central government’s Calamity Relief Fund norms. Rs. 13,500 per hectare will be given for irrigated crop and Rs. 6,800 for non-irrigated crops where losses are more than 33%,” said deputy chief minister Nitin Patel. According to Patel, many districts received heavy rain during July to September and in some districts rain…