The Reserve Bank of India (RBI)'sboard under newly-appointed governor Shaktikanta Das, set to meet Friday, is unlikely to take any major decisions relating to lending norms and providing relief to banks under the Prompt Corrective Action (PCA) framework. He was instrumental in pushing GST soon after the Modi government took charge.
To a question on the stand-off between the RBI and Centre, Das said: "I would not like to go into what the issues were or what the issues are between the government, which runs the country, and the RBI".
In his introductory remarks at a media interaction, the former bureaucrat, who was appointed the 25th RBI Governor on Tuesday, underscored that the central bank is "a great institution". This followed a host of issues with the government, including those on autonomy and its operational integrity. He also underlined the need to ensure that we have to develop a transparent and corruption-free system that can fast-track the decision-making process and a system in which key government decisions should be binding on every institution. PCA banks are expected to further push for a relaxation at the meeting.
As many as 11, including Dena Bank and Allahabad Bank, of the 21 public sector banks (PSBs) are under the RBI's PCA framework. He also claimed that it is only the banking segment that is facing several challenges now that need to be solved as soon as possible.
Das is meeting Mumbai-based state-run banks Thursday to get a feedback on the issues facing them.
Australia win toss, bat v India in scorching hot Perth India named their 13-man squad for this Test, with Ravichandran Ashwin and Rohit Sharma ruled out owing to injury concerns. Blues batsman Kurtis Patterson, though, proved runs can be found on the pitch as he scored a century in the same match.
Relaxation in PCA norms for weak banks was one of the key demands of the government, which felt that these norms are adversely impacting the lending capacity of banks, especially to the politically crucial small and medium enterprises (SMEs).
"Heartening to know that inflation is on target with a benign outlook", Das added.
The RBI central board meeting will be held as planned on December 14.
Rating agency Fitch Ratings has warned that a roll-back of measures that address long-standing bad-loan problems and restrict the growth of weakly-capitalised banks could have a negative impact on the credit profiles of the affected banks and may increase risks in the financial system.
The Appointments Committee of the Cabinet has approved the appointment of Shaktikanta Das for a period of three years after Urjit Patelresigned as RBI Governor. "I wish Dr Patel all the very best and many more years of public service".
A test flight of Virgin Galactic's SpaceShipTwo is scheduled to launch from the Mojave Air and Space Port, north of Los Angeles. The firm's SpaceShipTwo passenger rocket ship reached a height of 82.7km, beyond the altitude at which space is said to begin.
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Horford was nursing a sore left knee, Irving had a sore right shoulder, Hayward was ill and Baynes was out with a sprained ankle. The rookie scored seven points and hauled in 11 boards, to go along with not one, but two blocks on Anthony Davis .
The shower is associated with 3200 Phaethon, an asteroid that is believed to have collided with another object many years ago. This will occur from late tonight to the early hours of tomorrow morning, with 2am offering ideal viewing conditions.
On Twitter Wednesday, Trump urged OPEC not to restrict oil flows, but since then has not publicly addressed the market. Also, it seems that factors other than OPEC production are playing a bigger role in determining oil prices .
There is no evidence that the irregularities in absentee ballot returns changed the outcome of the race. Dowless is accused of paying workers to pick up absentee ballots it certain areas of the county.
The twin Voyagers launched from Cape Canaveral, Florida, in 1977, and zipped by Jupiter, Saturn, Uranus and Neptune. However, for all practical purposes, both spacecraft are in interstellar space or the space between stars.
PHOTO: Police motorcycles drive in the streets of Strasbourg , eastern France, after a shooting breakout, on December 11, 2018. Witnesses described shots and screams after the gunman opened fire around the Christmas market Tuesday evening.
Brady threw for 358 yards and three scores, but the stunned Patriots (9-4) lost in Miami for the fifth time in their past six visits.
USA planning actions targeting Chinese hackers and spies
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Liverpool 1-0 Napoli
They're at their best point since Klopp left them, but we're at our best point since Klopp joined. An ageing side they would provide little resistance to a fast flowing Liverpool .
Key Democrat says Trump allegations could be 'impeachable'
He's pardoned Joe Arpaio, the former Arizona sheriff who was convicted of criminal contempt for disobeying a judge's order, and I. Under US law, campaign contributions, defined as things of value given to a campaign to influence an election, must be disclosed.
Storm brings heavy snow to southern West Virginia
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Elon Musk suggests Tesla's new chairwoman won't rein him in
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