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Urjit Patel Resignation “Disturbing”, Says Bank Staff Association
Although the All India Bank Employees’ Association (AIBEA) had earlier asked RBI Governor Urjit Patel’s resignation, his calling it quits on Monday has left the banking body shocked and disturbed and it has termed it a “dangerous trend”. “The resignation of RBI Governor Urjit Patel is quite shocking and disturbing. The reasons for his resignation …
Kotak Bank Moves Court “To Protect Interest” On Preference Shares
Kotak Mahindra Bank Ltd stated on Monday it had challenged in court the central bank’s decision to disregard the issue of preference shares to reduce promoter stake in the private-sector lender, sending shares sharply lower. Uday Kotak, the billionaire lead of Kotak Mahindra Bank, has been asked by the Reserve Bank of India (RBI) to …
Results of assembly polls indicate people fed up with BJP’s rhetoric
India will be “BJP Mukt” in the year 2019, the AamAadmi Party stated on Tuesday, as assembly election trends indicated that the saffron party was trailing in two of the three states it ruled. The Bharatiya Janata Party was behind its major rival Congress in Rajasthan and Chhattisgarh; it was locked in a close contest …
“Effective Immediately”: Urjit Patel Statement On Quitting RBI
Reserve Bank of India Governor Urjit Patel stepped back on Monday. His resignation will take effect consequently, Mr. Patel said in a statement. He took charge as chief of the central bank in September 2016, replacing Raghuram Rajan, who stepped down to return to academia after a single three-year term. Mr. Patel’s stepped down from …
Cabinet Rise In Government Contribution To National Pension System
The Union Cabinet on Monday increased government contribution towards the National Pension System (NPS) to 14 percent. The move, which will head to higher payouts, is expected to benefit 18 lakh central government employees, the Ministry of Finance said in a statement. The important contribution by the central government for its employees covered under the …
Falling Oil, Gas production A Concern: Oil Minister
The falling oil and gas production is an issue of concern, Oil Minister Dharmendra Pradhan said, adding the government will soon set up a gas trading hub. Crude oil production in October dropped 5 percent from a year earlier to about 2.89 million tonnes, while natural gas output was down 0.4 percent at 2.80 billion …
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G20: PM Modi meets Saudi Crown Prince
Prime Minister Narendra Modi visited Saudi Arabia Crown Prince Mohammed bin Salman and UN Secretary-General Antonio Guterres on the sidelines of the Group of 20 or G20 Summit in Argentina’s Buenos Aires on Thursday. The Prime Minister is on a five-day meeting to the nation to attend the summit on Friday and Saturday. In their …
What is the National Defence Academy (NDA)?
The National Defence Academy is an iconic institution and hallmark of global excellence in the horizon of military education. The NDA is situated at Khadakwasla near Pune, Maharashtra. It is the first tri-service academy in the world. NDA alumni have guided and fought in every major conflict in which the Indian Armed Forces has been …
Indian-Origin Lawmaker Faces Backlash On Ireland Food Shortage Remark
A major Indian-origin Brexiteer MP has come under pressure over her suggestion that potential food shortages between borders could be utilized as leverage to secure a better deal from the EU, ahead of a crucial vote in the UK Parliament next week over Prime Minister Theresa May’s Brexit deal. Priti Patel, one of the most …
NPA crisis not due to farm loan waiver, MGNREGA not a failure
The non-performing assets (NPA) crisis in the country is not because of loan waivers to farmers, stated BJP Lok Sabha member Varun Gandhi on Friday as he backed the UPA government’s Mahatma Gandhi National Rural Employment Guarantee Act (MNREGA) scheme. Labeling students at the Indian Institute of Management, Ahmedabad (IIM-A), where he also launched his …
