Former Union finance minister P Chidambaram asked the Centre what was its "tearing hurry" to "fix" the capital framework of Reserve Bank of India when the ruling dispensation had just four months to complete the term.
As an unprecedented fight plays out between the RBI and the government, it is the central bank's 18 board members who are being keenly watched for their next course of action -- they are not only central bankers and government officials but also business leaders, economists and activists.
Former finance minister P Chidambaram warned the NDA government against laying its hands on RBI reserves, saying it will have "catastrophic" economic consequences for the country.
The government will soon issue a statement to address the growing differences between the finance ministry and the country’s central bank, said.
With about USD 11 billion foreign portfolio investments outflow this year, the government is trying to find ways to ensure stability of FPI fund flows into the financial markets, Economic Affairs Secretary Subhash Chandra Garg said.
Asserting that trade tensions and rising oil prices are affecting emerging nations, Economic Affairs Secretary Subhash Chandra Garg said G-20 countries should take coordinated action to minimise the negative spillover effects of global risks on developing economies.
India has not yet worked out a payment mechanism for continued purchase of Iranian oil, a finance ministry official told CNBC TV18 news channel.
Jaitley met RBI Deputy Governor B P Kanungo to discuss RBI’s data localisation norm for global financial technology companies.
The government on Friday welcomed the Reserve Bank of India (RBI) decision to keep its key benchmark lending rates unchanged, but disagreed with the monetary policy committee's (MPC) growth forecast.
India is considering special deposit scheme for non-resident Indians to boost dollar inflows, news agency NewsRise reported on Wednesday, citing an unnamed finance ministry official.