Sources in the ministry of finance told Firstpost that Section 7 of the RBI Act has not been invoked. However, two letters were sent to RBI last month in which “Section 7 was quoted”, highlighting the existence of powers under the Act that allows the government to issue directions to the central bank on “matters of public interest”.
IndusInd Bank Share Price 1400, Big Downfall Expected – Buy Karna Mana Hai
IndusInd Bank’s promoter, IndusInd International Holdings Limited (IIHL), and Invesco Limited have completed the formation of their joint venture for the asset management company (AMC) as of 2 November. IIHL and Invesco Limited will now serve as the sponsors of Invesco Asset Management Company India.
Why Gold Prices Are Rising
Goldman Sachs Group Inc. says that “fear” has made a comeback and gold is benefiting as stocks slide and investors fret more about the possibility that the US economy may tumble back into recession.
Breaking News – China Reports Lower Than Expected Manufacturing Growth in October
China reported slower manufacturing growth in October for the second straight month as the country’s trade war dispute with the U.S. continues.
Banks Under RBI PCA Show Mixed Results
Eleven state-run banks under the Reserve Bank of India’s (RBI) prompt corrective action (PCA) framework recorded higher interest income but lower asset quality, a Mint analysis showed, even as differences between the government and central bank over the framework have burst out into the open.