Business

Union Minister Arun Jaitley aid that Arvind Subramanian expressed his desire to go back to the United States on account of “pressing family commitments”.

In reference to recent suggestion by RBI Governor Urjit Patel that the central bank lacked powers to effectively deal with PSBs, Goyal said RBI has powers, but if additional powers are needed the government was open to the idea.

The move comes after US President Donald Trump pulled out of an international nuclear deal with Iran on May 8 and said he would reimpose sanctions within 180 days.

The letter said that the RBI could train newly recruited computer-savvy assistants in banks for assisting this monitoring exercise, which will stand RBI in good stead without stretching its human resources too much.

"The additional capital will go a long way in supporting our growth plans over the next few years, especially in semi-urban and rural India," its deputy managing director Paresh Sukthankar said in a video message.

In the December quarter, the deficit stood at a higher 2.1 per cent. The CAD is a keenly watched space that signifies the strength of an economy from an external sector point of view and also influences the currency markets.

The previous high in retail inflation was in January this year at 5.7 per cent.

The bank on May 30 announced that its Board has decided to institute a "comprehensive enquiry" to look into an anonymous whistleblower's complaint alleging that Kochhar had not adhered to provisions relating to "code of conduct" of the bank.

While the Hyderabad store will have spacious room designs, its Mumbai store will pack a lot more product into a smaller space to reflect the city's apartment sizes.

In the context of rising inflation and additional upside risks to the forecasts due to higher oil prices, exchange rate depreciation and other domestic factors, the IMF thinks that this was an appropriate step by the RBI on Wednesday.

The maximum impact of the hike will be on the home loan borrowers as loans are taken for a longer period.

Oil Minister Dharmendra Pradhan, who flew in here to witnessed arrival of first LNG ship under a 20-year import deal with Gazprom, termed the event as Golden Day in the India's energy pursuit.

As part of cracking down on black money flows and illicit assets, the Corporate Affairs Ministry has struck off the names of around 2.26 lakh companies that have not been carrying out business activities for long.

India retained the tag of the fastest growing major economy in the March quarter on robust performance by manufacturing and service sectors as well as good farm output.

Arvind Gupta has alleged that Ruia brothers of Essar group got undue favours from the bank for "round-tripping" investments into her spouse Deepak Kochhar's NuPower Group.

The total gross GST revenue collected in May 2018 is Rs 94,016 crore, of which CGST is Rs 15,866 crore, SGST Rs 21,691 crore, IGST Rs 49,120 crore and cess Rs 7,339 crore, the ministry said.