Former deputy governor of Reserve Bank of India says idea that India'll somehow fix governance problems of PSBs won't work; I see only two parts that can work -- healthier banks can be floated in market and others should find niche business models that work, he says

Acharya, in his book, \"Quest for Restoring Financial Stability in India, argues that numerous policies \"regressed\" the economic climate in the country while he was deputy governor between early January 2017 and mid-July 2019

In a surprise move, Acharya has resigned from his position at the RBI merely six months ahead of the scheduled end of his three-year term, citing personal reasons.

Acharya submitted a letter to the RBI informing that due to unavoidable personal circumstances, he is unable to continue his term as a Deputy Governor of the RBI beyond July 23, 2019

Acharya's resignation could be an indication that some differences still continue to exist between the apex bank and government in terms of decision making. He was, after all, seen as the last man in RBI vociferously batting for autonomy.

Viral Acharya in October 2018 made a powerful speech lamenting that the government did not respect central bank's independence (with historic examples) and would sooner or later incur the wrath of financial markets, ignite economic fire and come to rue the day they undermined the regulatory institution

\"Applying the Basel-specified risk-weights would understate the true riskiness of loan assets carried on the books of our banks\"

The RBI had kept the repo rate -- at which it lends to banks -- at 6.50 per cent in the MPC review held between December 3-5.

Union Finance Minister Arun Jaitley on Tuesday said the Central government respects autonomy and independence of the RBI and there is no truth that government is pressuring the central bank. He also went on to speak about other issues like NPAs which are affecting the country's finances. Watch the video.

Finance Minister Arun Jaitley on Tuesday said that Urjit Patel is not the first governor to have resigned, others have resigned in the past as well. Jaitley was speaking to India Today editor Rajdeep Sardesai on India's current financial situation, the role of RBI and the government's role. Watch the interview.

The Centre wants to know how much cash reserve should be kept with the RBI, and how can it be used for other purposes, says Jaitley.

After a pretty volatile week, Vikas Jain of Reliance Securities rounds up what happened at the markets and lists out the key developments to watch out for and sectors to invest in this BusinessToday.In Weekly Market Wrap.

Finance minister Arun Jaitley, while admitting that government has issues with the central bank on credit flow and liquidity, said the government has begun \"discussions\" with it to rectify the same

The International Monetary Fund said \"operational independence\" of central banks like the Reserve Bank of India was important for carrying out their responsibilities

Flipkart rejigs leadership, appoints Sriram Venkataraman as COOWalmart-backed Flipkart has rejigged its senior leadership team, including the appointment of Sriram Venkataraman as a chief operating officer (COO).Venkataraman, who is currently the chief financial officer at Flipkart, is assuming the additional role as COO, according to an e-mail sent to employees by Flipkart CEO Kalyan Krishnamurthy. As part of the COO charter, he will be responsible for Ekart (logistics vertical), the marketp...

As RBI Governor Urjit Patel resigned citing 'personal reasons', analysts and politicians attributed it to pressure from the government on RBI to ease curbs. While finance minister Arun Jaitley deeply appreciated services rendered by Patel in his tenure, opposition leaders did not mince words while criticising the government. Watch how people reacted to the big move by Urjit Patel.

India expresses 'deep satisfaction' over the judgement of 'flashy billionaire' Mallya's extradition; Vijay Mallya's extradition to India will take months: Lawyer; Surjit Bhalla resigns from PM Modi's economic advisory council; rupee opens 114 paise lower after RBI governor Urjit Patel resigns. Watch more in this episode of Business Wrap.

India expresses 'deep satisfaction' over the judgement of 'flashy billionaire' Mallya's extraditionIndia has expressed \"deep satisfaction\" over the judgement of a UK court which ordered Vijay Mallya's extradition after concluding that the \"flashy billionaire\" does have a case to answer in the Indian courts over substantial \"misrepresentations\" of his financial dealings. External Affairs Ministry Spokesperson Raveesh Kumar said India will continue to work with the British government for ...

The Singapore banking group, DBS said that immediate resignation of RBI Governor Urjit Patel comes at a time when negotiations with the government to iron out differences on key regulatory aspects are ongoing

The government is likely to announce Urjit Patel's successor as Reserve Bank of India's Governor later in the day says Finance Secretary A N Jha