The Reserve Bank of India is India's central banking institution, which controls the issuance and supply of the Indian rupee. Until the Monetary Policy Committee was established in 2016, it also controlled monetary policy in India.
Finance Minister Nirmala Sitharaman on Friday categorically said budgetary commitments for social sector spending would not be affected in case of tax shortfall while reiterating that the government was interacting with each sector facing challenges in the present economic situation.
The Supreme Court has issued a notice to the Centre on a plea by a Tamil Nadu-based businessman who failed to deposit Rs 1.17 crore in scrapped currency notes within the stipulated time frame in December 2016.
The RBI decision to transfer Rs 1.76 lakh crore to the Central government in the current year will help strengthen its fiscal position in the backdrop of the economic slowdown, Acuite Ratings said on Wednesday.
Criticising Nirmala Sitharaman over her "rhetorical" and "non-serious" response, Congress leader Kapil Sibal on Wednesday said that the Union Finance Minister should tell the people why the central government needed Rs 1.76 lakh crore from the Reserve Bank of India (RBI).
Criticising the Reserve Bank of India's (RBI) move to transfer Rs 1.76 lakh crore to the government, AIMIM president Asaduddin Owaisi on Tuesday urged the Centre to generate employment in the country.
Finance Minister Nirmala Sitharaman on Tuesday hit out at criticism of the Bimal Jalan panel's recommendations on the RBI's Economic Capital Framework (ECF) for the central bank to transfer Rs 1.76 lakh crore to the government.
The Communist Party of India-Marxist (CPI-M) on Tuesday condemned the manner in which the Reserve Bank of India's (RBI) reserves were being transferred to the government and profit-making public sector navaratnas like ONGC were 'fleeced' in the past to meet Modi government's 'extravagant expenditure.'
Easing US-China trade tensions and the RBI's decision to transfer Rs 1.76 lakh crore of surplus funds to the government aided the Indian equity indices to close higher on Tuesday.
the recommendations of the Bimal Jalan committee and has decided to transfer Rs 1,76,051 crore to the government. This is broken as Rs 1,23,414 crore as surplus for year 2018-19 and another Rs 52,637 crore of excess provisions identified by the committee as per the revised Economic Capital Framework (ECF).
Voting for a conventional 25 basis points (bps) RBI rate cut in August, as opposed to the majority in the Monetary Policy Committee (MPC), external MPC member Chetan Ghate had said that by agreeing to a 35 bps cut, the RBI could be burning through monetary policy space, the minutes of the last MPC meeting released on Wednesday showed.