Time to revisit deposit rates - Barendra Kumar Bhoi, Business Line
In October 2011, the Reserve Bank of India deregulated the interest rate on savings bank deposits in order to improve monetary policy transmission. However, the post-deregulation experience has been stickiness of this interest rate at 4 per cent offered by the public sector banks (PSBs) — a clear case of cartelisation by PSBs.
Political funding: Arun Jaitley may be right when he said victimisation kept India Inc from donating via cheque - Financial Express
Finance minister Arun Jaitley may well be right when he says the fear of victimisation has kept India Inc from donating to political parties by cheque—he has also removed the cap on donations now. If company A, according to this logic, gives funds to party B then, when it comes to power, party C will try and take revenge for funding rivals.
RBI chief Urjit Patel's new problem: Rupee surge, Banks awash with funds - Anirban Nag, NDTV
The rupee's surge and a banking system awash with funds will shift focus to a little-used tool in the Indian central bank's arsenal before next month's policy review. The Reserve Bank of India may consider raising the cash reserve ratio for the first time since 2010 if deposits accumulated due to November's cash ban don't flee over the coming months, economists say.
Case for an inter-meeting rate hike - Surjit S Bhalla, Indian Express
At the February 8 Monetary Policy Committee (MPC) meeting, the RBI surprised the world, and itself, by keeping the repo rate constant at 6.25 per cent — and by changing the policy stance to neutral from accommodative. Many (all?) criticised this decision as not grounded in economic reality; indeed, I titled my criticism ‘Jaywalking at the RBI’ (IE, February 25).
Finally, GST from July? - Pioneer
The endorsement by the GST Council of two crucial Bills paves the way for the rollout of the Goods and Services Tax regime in the country from this July. On Thursday, the panel headed by Union Minister for Finance Arun Jaitley cleared the State Goods and Services Tax (SGST) and the Union Territory Goods and Services Tax (UTGST) supplementary Bills.
Poll magic: Nifty hits record high, Sensex at 2-yr peak on BJP win - Pioneer
With BJP’s strong show in the state elections, especially in Uttar Pradesh, The markets rallied record highs on Tuesday as the Nifty pulled off an all-time closing high of 9,087 and the Sensex raced to a 2-year high as well.
Government likely to ease FDI rules for retail - Sidhartha, Economic Times
The government is expected to move swiftly to ease foreign investment rules for the tightly-policed multibrand retail sector after BJP’s resounding win in the Uttar Pradesh assembly elections.
RBI says it's still Tata to Docomo - Financial Express
The Reserve Bank of India (RBI) on Wednesday once again opposed the $1.17 billion settlement between Tata Sons and Japan’s NTT DoCoMo, leaving the fate of the payment to the Delhi High Court. Consistent with its stand, first in February 2015 and subsequently in July 2016, the RBI told the court Tata Sons cannot pay DoCoMO despite the London Court of International Arbitration (LCIA) award in June 2016 as it would amount to violating the Foreign Exchange Management Act.
Liberating avenues for FDI - Katarzyna Kaszubska, Pioneer
Given the diminishing role of the Foreign Investment Promotion Board in recent years, the scrapping of this body is welcome. Moreover, the decision is in line with the Government's commitment to create favourable conditions for foreign direct investment.
IRCTC’s next-gen system is a nightmare - Rajkamal Rao, Business Line
9599198015 jhaWith much fanfare in 2014, Indian Railways announced that the launch of its Next Generation Reservation System from IRCTC — a massive ₹180 crore rewrite — was going to make passenger travel easier. The new system boasted a host of new easy-to-use features, including showing train availability for multiple dates, across multiple classes, in dedicated tabs.
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