Three persons have been arrested in connection with the theft of Nobel Prize replica, citation and ornaments from Nobel Laureate Kailash Satyarthi's house in southeast Delhi's Kalkaji area.
On Tuesday, Patel and the newly formed monetary policy panel cut the policy rate by 25 basis points and softened the RBI's stance on the timeline for meeting its inflation target, indicating that it had until 2021 to reach it.
The CBI has taken over the probe into the murder of Hanif Kadawala, an accused in the 1993 Mumbai blasts case who gave an AK-56 rifle to actor Sanjay Dutt, and registered a case against gangster Chhota Rajan and his accomplices in this regard.
Governor Rajan, in effect, believes what the RBI act says that the role of the central bank and the governor is to protect the value of the rupee, to ensure that it does not inflate more than the limit allowed by the parliament. So inflation control is willy-nilly the foremost on the new governor's agenda. What else is on his to do list?
Urjit Patel, the new Governor of RBI who has maintained a contrasting low-profile to outspoken and rockstar-like Raghuram Rajan, has his immediate task cut out -- finishing the 'unfinished agenda' of his predecessor on completing 'deep surgery' of banks and winning the war on inflation.
He may have a week left at RBI, but Raghuram Rajan has managed to fire another reform salvo – a bunch of steps to broaden and deepen the corporate bond market last week.
Meetings go on to this day, but out went the kind of private chats that could unsettle markets, occurrences that became known as "open mouth operations", as opposed to open market operations the RBI carries out.
As the Mint Street readies for a new sheriff, industry and markets want much more than a change in the quintessential signature on currency notes when a soft-spoken but effective Urjit Patel takes over from an outspoken and rockstar-like Raghuram Rajan.
Admitting that the "action or inaction" of RBI during his tenure could have been among reasons for the present bad loan crisis, former governor D Subbarao today said he should have addressed those issues.
According to the Swiss financial services major, slowdown in real GDP growth in 2016-17 is likely and it expects growth of around 7.4 percent in 2016-17 after the 7.6 percent recorded in 2015-16.
A little over a month ago, the Indian market was fretting over the impact of the announcement of popular Reserve Bank chief Raghuram Rajan who announced he would not seek a second term.
There is an element of mistaken euphoria in many global assets classes, says Willem H Buiter, Global Chief Economist at Citi, adding, current equity valuations worldwide are not justified based on earnings growth seen ahead.
Madhu Kela of Reliance Capital firmly believes there is huge amount of money, both with local and global investors, waiting on the sidelines and investments will begin as earnings growth gathers momentum and monsoon pans out as expected.
This is a market in which smart money is so hungry for bad news (so that it gets an opportunity to buy cheap) that the first major correction (if any) will be lapped up by both hands, writes Anuj Singhal.
Delivering a lecture on "The Global Economy and India" here, the former Chief Economist of IMF said new rules need to be evolved for international monetary policy and called for the emerging markets like India to "speak up and raise their voice louder" to have a say in setting the global agenda.
Jahangir Aziz of JPMorgan said that it is too premature for the markets to take cues from the frenzy surrounding RBI governor's reappointment. It all depends on who replaces him, he said.
The Governor said it is important that this kind of investigation should not be done through the press, adding, "I think it does tend to create an environment which is not conducive to investigation".
As on September, the gross NPAs of PSBs have increased to Rs 3.01 lakh crore as against Rs 2.67 lakh crore in March.
The report says that in 2015, 62 billionaires together held as much wealth as 3.5 billion people put together -- that's the bottom 50 percent of the world's population. Also, the wealth of these 62 billionaires rose 44 percent between 2010 and 2015.
Taimur Baig of Deutsche Bank expects Reserve Bank Governor Raghuram Rajan to hold steady on policy rates today, highlighting there's no need to cut rates based on GDP figures.
Rajan, who was arrested in the popular tourist city of Bali on his arrival from Australia on October 25, is expected to be produced soon before an Indonesian court where the police will submit details of the cases for which he is wanted in India.
In any industry, increase in competition thins margins. In banking, the number of players is set to increase from 45 in 2014 to 66 by 2016, which is a 45 percent rise in the number of competitors.
Bank of Baroda has suspended two employees at the branch involved in the case, and has said as far as it was aware any loss would be insignificant as a result of the case.
At a time when volatility-hit street is hinting at jettisoning equities in favour of fixed income, JP Morgan believes equities will beat all other asset classes in 3-5 years.
The government's two five-star economists Raghuram Rajan, of the Reserve Bank, and Chief Economic Advisor Arvind Subramanian, seem to be poles apart when it comes to their readings on inflation.