Trimming of India's sovereign ratings to the lowest investment grade by Moody's Investors Service has triggered the move
He joined the Bank in the 1996 and heads finance, human resources, and other departments
Flagging economic recovery, therefore, would be a key concern for the Monetary Policy Committee, says our editorial.
The basic argument that Mr Patel has been making has its roots in the discourse on banking reform and reducing dominant state ownership and control over the banks
Another rate cut will not help at this point
The Sensex ended at 36,940, down 667 points, or 1.8 per cent - the highest since July 14
The brokerage had last month penciled in 5 to 7.5 per cent contraction in GDP this fiscal, saying each month of lockdown has shaved off 100 bps of the economy
Contracting economy, rising bond supply, inching up of long-term rates reduce prospects of successive rate cuts
Reserve Bank of India's surveys of various economic indicators will be key inputs - specifically household inflation expectations - into the actual rate decision
Proposal to prune stake to 51% in six banks may fetch over Rs 43,000 crore
Economies are shrinking and central banks are getting low on firepower
While the economy battling with the pandemic shock needs support, inflation continues to remain above the central bank's target band
For RBI Governor Shaktikanta Das, this is probably the toughest monetary policy. The message it sends out is more important than the action
Recovery depends on how quickly the pandemic is contained
The management committee of the Indian Banks Association feels banks should be given the discretion to decide how the recast is to be customised and the eligibility criterion
The opportunity to list overseas provides a huge opportunity for new-age digital and fintechs
But bear in mind that the government will surely organise a bailout in such a scenario
Acharya, who resigned after run-ins with the government last year, said the dip in financial savings is also another reason which can explain the disagreements between Mint Road and North Block
The MPC, headed by RBI Governor, is scheduled to meet for three days beginning August 4 and announce its decision on August 6
Acharya said that because the RBI does not distinguish in its rules between public and private sector banks it is forced to adopt weaker standards for the system as a whole