Pragya Srivastava

Pragya Srivastava works for Financial Express Online - a newswoman by the day, binge-watcher by the night! She writes on Indian economy & banking and finance. Pragya is a staunch defender of free speech.

RBI Governor Shaktikanta Das says it’s government that runs country; sticky issues can be resolved

The government is not just a stakeholder. But the government of the day runs the economy, runs the country; manages major policy decisions, newly-appointed RBI governor Shaktikanta Das said.

The government is not just a stakeholder. But the government of the day runs the economy, runs the country; manages major policy decisions. News

Urjit Patel: The ‘yes’ man who wasn’t! How tables turned since demonetisation

While the RBI-board meeting on November 19 ended on "cordial" note, the buzz that the government was hoping to make the RBI a board-led body, weakening the powers of the governor and his team, kept tensions alive.

The RBI, under Patel, also said no to Axis Bank's Shikha Sharma, Yes Bank's Rana Kapoor and acted tough on Kotak Mahindra Bank and Bandhan Bank over promoters' shareholding. News

Urjit Patel resigns as RBI governor; cites personal reasons

On account of personal reasons, I have decided to step down from my current position effective immediately, said Urjit Patel.

On account of personal reasons, I have decided to step down from my current position effective immediately, said Urjit Patel News

RBI governor Urjit Patel steers clear of questions on tension with govt, Viral Acharya’s speech

The Reserve Bank of India (RBI) monetary policy decision on Wednesday was supposed to be a sideshow; what many of the market watchers were hoping to witness was what governor Urjit Patel had to say about the recent tension wi

The tension between the RBI and the Narendra Modi government became obvious when Viral Acharya, in a hard-hitting speech, warned that the governments that do not respect central bank's autonomy invite the wrath of the market. News

Big fall in GDP growth from 8.2% to 7.1%: ‘Future does not look rosy’; here’s what really went wrong

First of all, the low Q2 number confirms that the stunning GDP growth of 8.2% in the Q1 was an "aberration" led by favourable "base effects".

the low Q2 number confirms that the stunning growth of 8.2% in the Q1 was an "aberration" led by favourable "base effects" News

A massive fall in India’s GDP growth likely in July-Sep quarter; here’s why

The financial year 2018-19 started with a bang by registering an 8.2% GDP growth rate in the April-June quarter. But now a massive fall is expected. Here's why

The financial year 2018-19 started with a bang by registering an 8.2% GDP growth rate in the April-June quarter. But now a massive fall is expected News

Oil at $55 a barrel? Not for India. This is what you must know about WTI and Brent crude oil prices

The crude oil price has slumped to $55 a barrel. The only problem is that the oil, which is trading at $54.55, is United States' home-produced West Texas Intermediate (WTI), and not the world benchmark Brent.

oil import of india, oil prices today News

Crucial RBI board meet: ‘PCA, Basel norms not for India, homegrown rules needed’

As a crucial meeting of the Reserve Bank of India (RBI) board is underway over a range of issues, Charan Singh, former RBI Chair Professor at IIM-Bangalore, opines that banks should not be stopped from lending as it is their

PSB, public sector bank, indradhanush, privatisation, RBI News

Govt vs RBI: Using reserves for current expenditure is a bad idea, says Arvind Virmani

The RBI currently has total reserves of Rs 9.7 lakh crore, which is made up of 27% assets in the form of gold and currency.

One of the most contentious issues between the government and the RBI is the management of surplus. News

Cashless India is not happening; here’s why

Policymakers looking to eliminate financial exclusion should be mindful of the reality that half of the world is dependent on cash, say experts.

Cashless India is not happening News

Dilution of RBI norms for power companies will set dangerous precedent, say experts; SC verdict likely today

The Supreme Court is likely to deliver a verdict today on the clutch of petitions, including from power producers’ association, seeking relaxation of the Reserve Bank of India (RBI) norms that mandate insolvency proceed

SC verdict on power sector NPA likely today News

60 crore Indians hadn’t seen a bank; now half of them have their own bank accounts: Arun Jaitley

Arun Jaitley stresses upon the fact that not only India needs a higher growth rate to eliminate poverty but also inclusive policies to ensure that the benefits of the economic development reach the poor and the margianislied.

60 crore Indians hadn't seen a bank; now half of them have their own bank accounts: Arun Jaitley News

2 years of demonetisation: Whopping 60% Indians say black money is back to full scale

A whopping 60% Indians said that black money in the country has not died; in fact, its circulation is going to only increase before the 2019 General Elections, a survey by LocalCircles showed.

Demonetisation, NDA government, post demonetisation, NAPM, FRDI BILL, public sector bank, CATMi, unemployment, impact of demonetisation, indian economy News

Winter is coming for PSU banks! They need whopping Rs 1.2 lakh crore capital in just 5 months

India's public sector banks, which are sitting a huge pile of bad loans, will need a whopping Rs 1.2 lakh crore capital to meet Basel III banking norms in the next five months.

India's public sector banks, which are sitting a huge pile of bad loans, will need a whopping Rs 1.2 lakh crore capital to meet Basel III banking norms in next five months News

RBI vs Govt: Why central bank transfers surplus profit and here’s how it works

The reasons for conflict between the RBI and the government are many, including surplus profits transfer. What is surplus profits transfer? How does it work? Why has it put the RBI in a protectionist mode?

The reasons for conflict between the government and the RBI are many, including surplus profits transfer. (Image: PTI) News

It’s depositors’ money! Another RBI deputy governor hits back over pressure to relax bank lending rules

A strong and stable banking system is essential for the development of the economy, which comes from recognising weaknesses in the balance sheet and making provisions for them rather than pretending to believe that the balanc

The rejoinder from the deputy governor has come amid the conflict between the government and the RBI over several restrictions imposed by the regulator on weak banks. News

India staring at over Rs 1 lakh crore GST revenue shortfall in FY19 despite October collection cheer

In Budget 2018, the government had set the GST revenue target for the financial year 2018-19 at Rs 12 lakh crore, putting it at a monthly average of Rs 1.07 lakh crore.

The October GST collection at Rs 100,710 crore was higher than previous months mainly due to the onset of festive season News

Ease of Doing Business: Giant leap for India; to enter top 50, work on these areas, says Jaitley

Ease of Doing Business 2019: After being an underdog for years, India finally showed a huge progress on the World Bank's Ease of Doing Business ranking by jumping 53 ranks in the last two years. Yet, the dream to enter the 't

Jaitley said that India can crack into top 50 if it improves on parameters such as time taken for registering real estate, starting business and enforcement of contracts. News

Ease of Doing Business 2019: GST, IBC big winners; list of reforms that put India among top 10 improvers

Ease of Doing Business 2019: India has jumped 23 places to secure 77th rank on the World Bank Ease of Doing Business index on the back many business-friendly reforms, with the Goods and Services Tax (GST) and the Insolvency a

The World Bank noted that India improved on six of ten parameters as against eight last year, putting it among top ten improvers for the second time in a row. News

India is South Asia topper in Ease of Doing Business ranking

Ease of Doing Business 2019: By improving on six of the ten parameters, India has also made its place among top ten improvers in the world, for the second consecutive year.

Not only has India made remarkable progress but has also become the highest ranked economy in South Asia, leaving Bhutan behind. News

Alarm bell’s ringing! In 15 years, India will start ageing, now is time for creating job opportunities

NITI Aayog CEO Amitabh Kant, said, "Nowhere is this challenge starker, then in the state of Uttar Pradesh, which is home to one-sixth of India's population and has one of the youngest population in India."

Economy News

Whopping 9.94 crore additional jobs needed in India; these 10 states alone need 7.81 crore jobs; check list

India, which presently has a rich demographic dividend, will need 9.94 crore additional jobs over the decade, a report by global strategy consulting firm PwC has said.

80% of the new jobs demand will come from Tier 2 and Tier 3 districts of just 10 states. News

Arun Jaitley says RBI looked the ‘other way’ when banks lent carelessly in UPA-era

The conflict between the Modi government and the central bank reached a boiling point when deputy governor Viral Acharya, in a strongly-worded speech, recently said that undermining a central bank's independence could be "po

Interestingly, the tussle between the RBI and the government is not new; it seems to have escalated under present governor Urjit Patel News

ArcelorMittal wins bankrupt Essar Steel, finally! Ruias’ last ditch effort won’t work, say experts

The Committee of Creditors (CoC) for Essar Steel selected ArcelorMittal's bid late last night even as shareholders of the bankrupt company made the last minute settlement offer to bypass the Insolvency and Bankruptcy Code (IB

Industry News

ArcelorMittal hits back at Ruias offer, says withdrawal of Essar Steel IBC process not possible

Within hours of Essar Steel shareholders offering to clear all dues of lenders for withdrawal of the insolvency process, ArcelorMittal said that the withdrawal from the IBC process is not possible as expressions of interest h

Essar Steel shareholders have offered to pay an aggregate of Rs 54,389 crore including Rs 47,507 crore upfront cash payment to clear all dues owed to lenders, News

Will India repeat last year’s Ease of Doing Business success? World Bank to launch report on this day

On the back of as many as 37 reforms, India jumped 30 ranks last year to make its place in top 100 on the list. World Bank to release 2019 report on this date

By adopting and implementing as much as 37 reforms, India even became one of the top ten improvers among 190 economies assessed by the World Bank for the Ease of Doing Business list News

Essar Steel may script big IBC success; ArcelorMittal’s higher offer may result in minimal haircut to lenders

One of the reasons behind Essar Steel case, which may script a big success under the IBC is section 29A -- the ineligibility clause included in a hurry to bar wilful defaulters, defaulter promoters and related parties from bi

And one of the reasons behind this case, which may script a big success under the Insolvency and the Bankruptcy Code (IBC), is section 29A -- the ineligibility clause included in a hurry to bar wilful defaulters, defaulter promoters and related parties from bidding for any other NPA account. News
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