The Reserve Bank of India (RBI) has made it mandatory for banks to link loans to retail customers and MSMEs to external interest rate benchmarks in a big push to make transmission of monetary policy more effective. Home and car loan rates, along with those for personal travel, are expected to fall, benefiting borrowers. Watch this video to know more. (Text: ET Bureau)
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Watch Repo-linked interest rates mandatory: What does RBI's move mean for borrowers | Economic Times With HD Quality.
The Reserve Bank of India (RBI) has made it mandatory for banks to link loans to retail customers and MSMEs to external interest rate benchmarks in a big push to make transmission of monetary policy more effective. Home and car loan rates, along with those for personal travel, are expected to fall, benefiting borrowers. Watch this video to know more. (Text: ET Bureau)
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Watch Repo-linked interest rates mandatory: What does RBI's move mean for borrowers | Economic Times With HD Quality
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When Finance Minister Nirmala Sitharaman last Friday announced the merger of 10 banks into 4, she was translating into action a tiered banking blueprint suggested in 1991 by Maidavolu Narasimham, who holds the distinction of being the only RBI cadre official to have headed the regulator. As chair of the 1991 Committee on the Financial System – he also led the 1998 Committee of Banking Sector Reforms – Narasimham had argued in favour of three-four mega banks at the top of the pyramid, supported by a wider base of last-mile financiers. Tune in as ET's Saloni Shukla brings you a lowdown of the key takeaways of Modi government's PSB merger drive and shares insight on what does the move mean for the banking industry and the economy going forward. (Text: ET Bureau)
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Watch Govt's mega PSB merger drive: What does this mean for banking industry | Economic Times With HD Quality
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When it came to redistributing portfolios among his ministers, Prime Minister Narendra Modi performed a major shake-up. While none of the top four ministries - Home, Defence, External Affairs and Finance - were touched, beneath that upper echelon, there were numerous changes.
Among them, Smriti Irani's transfer from the key Human Resource Development ministry to the Textile portfolio is being seen as the biggest demotion.
When it came to redistributing portfolios among his ministers, Prime Minister Narendra Modi performed a major shake-up. While none of the top four ministries - Home, Defence, External Affairs and Finance - were touched, beneath that upper echelon, there were numerous changes.
Among them, Smriti Irani's transfer from the key Human Resource Development ministry to the Textile portfolio is being seen as the biggest demotion.
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The transport ministry has issued draft guidelines for setting up authorised vehicle scrapping facilities, a move that will help legalise the industry in India. The guidelines posted on the ministry's website have been issued for 'protection of the environment and promotion of a legally compliant vehicle dismantling and scrapping industry.' But what does these proposed norms mean for the auto industry and vehicle owners? ET's Nehal Chaliawala has more.
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GST Rate Finder app, developed by the Central Board of Excise and Custom (CBEC), is available on the Google Play Store. It gives a clear picture of GST under 5 sub-heads. The app seems to be a clear representation of the complete rules and regulations for the guidance of the users. However, in our understanding it needs some enhancement.
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Indian Railways has launched an integrated mobile application - Rail SAARTHI - to cater to various passenger requirements, including ticket booking, inquiry, on-board cleaning and ordering meal on a single platform.
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Iran's missile attack on two American bases in Iraq in response to the US strike that killed its top general Qasem Soleimani is the culmination of nearly two years of steadily rising tensions since President Donald Trump withdrew from Iran's 2015 nuclear deal with world powers. The two countries are now engaged in their most serious confrontation since the 1979 Islamic revolution and takeover of the US Embassy. ET's Consulting Editor Swaminathan Aiyar shares his views on this escalation in US-Iran tensions and what does it mean for India. (Text: AP)
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The Economic Survey of India 2017-18, tabled in the Parliament on Monday, brings the most extensive study of the state of economy. The report, compiled by a team led by the Chief Economic Advisor Arvind Subramanian, presents a comprehensive picture of the way forward. Here's the report at a glance.
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Deloitte India's senior economist Richa Gupta lists-out four key takeaways from the Economic Survey of India 2018, tabled in the Parliament on Monday by Finance Minister Arun Jaitley. Tune in.
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