Raghuram Rajan said prioritising spending is important as it would help the government focus on what is essential, such as relief to poor households and small businesses

Allowing big industrial houses in the banking sector has its own set of challenges

RBI panel's proposal to allow big corporates/industrial houses to own and run banks and NBFCs is contrary to RBI's own earlier stand, economic logic and historical evidence of multiple economic crises caused by reckless private financial sector players

Former Reserve Bank of India's (RBI) governor Raghuram Rajan and deputy governor Viral Acharya have said that the proposals put out by an internal working group (IWG) of the central bank to allow corporate entry into banking is a \"bad idea.\"; Software giant Microsoft has rolled out a new feature on its Teams app through which up to 300 participants will be able to do free voice or video calls all day; Biotechnology major Biocon on Monday said it has inked an agreement for the acquisition of 26% stake on a fully diluted basis in Hinduja Renewables Two Pvt Ltd for Rs 5.91 crore. Watch this and more on News Blast.Also Read: 'India, top priority': Serum Institute CEO Adar Poonawalla on COVID-19 vaccine distribution plan

SpiceJet founders venture into COVID-19 testing SpiceHealth, a healthcare company founded by the promoters of low-cost carrier SpiceJet, announced on November 23 that it would conduct Real-Time Polymerase Chain Reaction (RT-PCR) tests, touted as the most decisive and crucial test for COVID-19, starting at Rs 499. The company also claimed that the test report will be generated in a record time of 6 hours after sample collection, in stark contrast to the current 24 to 48 hours it takes at mos...

The agency added that the RBI's internal working group's concerns regarding the concentration of economic power, as well as financial stability in permitting corporate houses to own banks, are some of the potential risks

Former Reserve Bank of India's (RBI) governor Raghuram Rajan and deputy governor Viral Acharya in an article he posted on LinkedIn, stated that it is important to stick to the tried and tested limits on corporate involvement in banking

While India is firmly focused on AatmaNirbhar Bharat for a V-shaped recovery, its key fiscal numbers show the economy is slipping with falling capital expenditure, muted consumption and higher precautionary savings

Multiple factors are responsible for this; some are well-known, like data fudging and man-made disasters of demonetisation, GST, and stringent lockdown; others are lost sight of, like lack of institutional support and intellectual rigour and frivolous approach to serious crisis

The Mudra portfolio of the largest bank in the country with over 20 per cent market share in banking assets indicates a similar situation in other public sector banks

India has learnt that growth in GDP does not automatically translate into growth in jobs and that GDP growth does not necessarily mean well-being of a vast majority of population. It needs to put these experiences into work and frame appropriate policy responses to the job crisis

Raghuram Rajan said he is not clear what government means by 'Atma Nirbhar Bharat', adding that if it is about creating an environment for production then it is a rebranding of the 'Make in India' initiative

In order to ensure timely completion of IBC, out of court settlement needs to be encouraged, and the NCLT, NCLAT infrastructure needs to be strengthened

Minimum support price hiked for wheat, 5 other rabi crops amid Farm Bills RowGovernment has hiked minimum support prices (MSPs) for six rabi crops while intense protests by farmers continue across the country over the new farm laws. Farmers are apprehensive that the new laws will undermine the MSP system.15% of Rs 31.3 lakh crore corporate debt under stressClose to 15 per cent or corporate debt worth Rs 4.6 lakh crore is stressed, revealed a study by IIFL Securities. These estimates were a...

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The reform of public sector banks so far by Prime Minister Narendra Modi-led NDA government is a \"still-born effort,\" said former RBI governor Raghuram Rajan and former deputy governor Viral Acharya in a newly released research paper

Public sector banks might perform better if they are freed from court-mandated new entry-level hiring constraints that hiring can be done through open exams, which makes it hard for PSBs to attract candidates from elite educational institutions, who have little desire to sit for yet another exam

A new research paper by former RBI Governor Raghuram Rajan and former deputy Governor Viral Acharya talks about a range of issues including management of bad loans, winding up of the Financial Services Department in the Finance Ministry and reforms in public sector banks

Former Reserve Bank of India Governor Raghuram Rajan and former Deputy Governor Viral Acharya opine that the first step to deal with bad loans is an honest recognition of loan losses

Former Reserve Bank of India (RBI)governor Raghuram Rajan and former deputy governor Viral Acharya have together proposed winding down of Department of Financial Services in the Finance Ministry