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The finance ministry has turned down the Reserve Bank's proposal to bifurcate the post of chairman and managing director in public sector banks saying this position doesn't enjoy absolute powers as is being claimed by some international experts.

April 09, 2014 9:02 IST | India Infoline News Service
The country's banking system is well-positioned to cope with the financial impact of the reduction in monetary stimulus by the US Federal Reserve and the resultant rise in interest rates, according to Moody's Investors Service. (ET)

The finance ministry has turned down the Reserve Bank's proposal to bifurcate the post of chairman and managing director in public sector banks saying this position doesn't enjoy absolute powers as is being claimed by some international experts. (ET)

India’s growth could recover to 5.4% in the current fiscal year and increase by one percentage point to 6.4% in the next year to March 2016 due to stronger global growth, an improvement in export competitiveness and implementation of the recently-approved investment projects, according to the International Monetary Fund. (ET)

India and other major emerging economies are expected to see weak growth, even as prospects have stabilized in most of the advanced countries, says a report by the Organization for Economic Co-operation and Development. (BS)

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