The latest Reserve Bank of India (RBI) circular will allow banks to access an additional Rs 2.5 lakh crore by pledging two per cent extra government paper signalling an easing of the liquidity stress. Banks can now dip into government bonds under the mandated Statutory Liquidity Ratio (SLR) up to 15 per cent of Net Demand To Liquidity (NDTL) for meeting liquidity requirements.
A new three-judge bench of the Supreme Court will start daily hearings in the Ayodhya case beginning October 29. After several twists and turns the final hearings will begin in a bid to resolve the sensitive issue. The bench that included Chief Justice Dipak Misra has maintained that the apex court’s 1994 verdict in the Ismail Faruqui case will not be sent to a larger bench.
The Supreme Court’s judgment on Aadhaar is significant for a number of reasons, but chiefly for upholding the safety aspect of it, which has been a concern among many. The government will see this as vindication of its stand for using Aadhaar as basic identity proof to roll out welfare schemes.
India could be going through its own Lehman Brothers moment that rattled US markets and triggered a financial turmoil a decade ago.
Ayushman Bharat, the mega healthcare and insurance scheme and the largest globally, has been launched by prime minister Narendra Modi from Ranchi in Jharkhand. The government and the prime minister himself have invested much in the ambitious scheme.
India has traditionally refused to recognise unilateral sanctions slapped by one country against other without the explicit approval of the United Nations. During UPA-II, Manmohan Singh’s government had rejected the US sanctions against Iran over its nuclear programme. This policy continues to be followed by the NDA government of prime minister Narendra Modi.
The Reserve Bank of India (RBI) has cracked the whip. Its latest decision to terminate Rana Kapoor as chief executive officer of Yes Bank by January 31, 2019 has caused consternation in the Indian financial world.
With the three-day lecture series, the Rashtriya Swayamsevak Sangh (RSS) has made the first move to engage with intellectuals of every hue and all communities on its vision for and of India. RSS chief Mohan Bhagwat put forth the Sangh line of thought on a host of issues from Hindutva to caste-based reservations in jobs and education institutions and the minorities.
The Union cabinet has recommended a presidential ordinance – to which the president has given his assent – to end the regressive practice of triple talaq and make it a criminal offence. Prime minister Narendra Modi was keen on the step even as he called for justice for Muslim women and an end to instant divorce through triple talaq.
The idea of creating big Indian banks with large national and global footprint was first considered by the Atal Bihari Vajpayee government over 15 years back. Then finance ministers Yashwant Sinha and later Jaswant Singh were amenable to the mergers and acquisitions in the banking sector to take on global banks.