Addressing the 25th World Congress of Savings and Retail Banks, Jaitley said an aspirational society cannot wait indefinitely for the benefits of growth to improve the quality of life of the poor
Jaitley's comments come at a time when both the RBI and the government are witnessing a tense relationship that has spilled out in the public
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Jaitley said that in the last two decades, four legislations altered the commercial jurisprudence of which Competition law was the first
The latest meeting comes amid concerns about the role of the 'super-regulator'
Tensions between the finance ministry and RBI have risen since the bank's deputy governor said in a speech on Friday that undermining a central bank's independence could be potentially catastrophic
The latest flashpoint between the finance ministry and the RBI occurred on the back of a liquidity crisis in NBFCs
Speaking at an IDFC event here, he said governments increasingly get opportunities to interact with various stakeholders
He also regretted that the attempts were being made to weaken the authority of the elected
Heads of six large public sector banks have assured the government of adequate liquidity in the system even as sectoral concerns prevail
BJP govt should use majority to undertake pending reforms
"He lies a dozen times and then in self-delusion believes it to be true or is it a case of a Clown Prince' out-clowning himself?", says Arun Jaitley for Rahul Gandhi
Jaitley said global oil prices have risen on account of 'artificial shortages' and it has adversely impacted India
A study by the Organisation for Economic Co-operation and Development concluded that jurisdictions, including India, which provide exemptions to PSEs under competition law adversely impact competition
"This is little excessive," he says adding that free speech could, under the Constitution be restrained only under certain circumstances such as public order
The crisis has triggered concerns of liquidity squeeze in the NBFCs and mutual funds
He said public sector banks have recovered Rs 365.51 billion of bad loans or NPAs during April-June quarter
Jaitley said some global trends do adversely affect India, but going ahead they will open up avenues for the country to grow faster
This is the first meeting that the government is holding with public sector bankers, following its announcement to merge Bank of Baroda, Dena Bank and Vijaya Bank
He said the government has maintained complete transparency in the matter