Plan and Policy

Plan & Policy

RBI to pay Rs 10,000cr dividend

The Reserve Bank of India (RBI) will pay Rs 10,000 crore dividend to the government. According to official sour­ces, the government receive d the RBI decision on interim dividend payment. The dividend would be paid this mo­nth, sources said on Thursday.

The amount has been ca­lculated for 6 mon­ths thr­o­u­gh December 31. RBI’s fina­ncial year runs from July to June.

RBI had earlier declined requests from the government for an additional payment after the dividend payout dropp­ed to a 5-year low.

PNB staggered payment plea hangs in balance

State-owned Punjab National Bank (PNB) has sought the Reserve Bank India’s (RBI) permission to stagger the over Rs 12,000 crore payment to other len­d­ers over four quarters in the next financial year, according to official sources on Thursday.

UIDAI allays fears of data leak in 80-minute presentation before SC

Unique Identification Authority of India (UIDAI) CEO Ajay Bhushan Pandey on Thursday made a power point presentation on various aspects of Aadhaar before a five-judge bench of the Supreme Court in a bid to allay apprehensions with regard to leakage of data and security breach.

PMO wants RCS to cover 100 cities

With an eye on general elections next year, the government wants the aviation ministry to include more cities for providing air services under the ambitious regional connectivity scheme (RCS) that promises to give wings to the common man.

Official sources said the prime minister’s office (PMO) has advised the aviation ministry to cover 100 cities under the ambitious scheme that seeks to make air travel affordable by offering tickets for Rs 2,500 or less.

BJP, Cong slug it out over Facebook data breach controversy

The online data-theft controversy hit the Indian shores with IT minister Ravi Shankar Prasad threatening to summon Facebook promoter Mark Zuckerberg even as he stirred a political storm by questioning Congress’ links with Cambridge Analytica accused of misusing data sourced from the social media giant.

Garg to meet RBI’s Acharya to discuss borrowing calendar

RBI Deputy Governor Viral Acharya will meet Economic Affairs secretary Subhas Chandra Garg on March 22 to discuss the borrowing calender for 2018-19 fiscal.

The government has plans to borrow Rs 4.07 lakh crore from the money market in 2018-19. According to sources, they would along with other ministry officials, discuss the issues on the timing, tools  of the government borrowing.

Panel may ease IBC qualification criteria

The panel reviewing the Insolvency and Bankruptcy Code (IBC) may suggest easing of qualification criteria to allow larger participation in resolution process.

Sources said the panel is in favour of allowing companies that have not been in management of non-performing assets (NPA) to bid for stressed assets. Thus the treatment would bring out a clear distinction between promoters of defaulting firms that don’t have a managerial role, from those

who also manage stressed assets.