Committees
JULY 2014
Rangarajan Committee
Submits Report On Poverty To Planning Commission
C Rangarajan, former chief of the Prime Minister’s Economic Advisory Council (PMEAC), has submitted a report on Tendulkar Committee methodology for estimating poverty to Planning Minister Rao Inderjit Singh on 1 July. According to an expert panel headed by C Rangarajan those spending over Rs 32 a day in rural areas and Rs 47 in towns and cities should not be considered poor. The panel’s recommendation, however results in an increase in the below poverty line population, which is estimated at 363 million in 2011-12, compared to the 270 million estimate based on the Tendulkar formula. This means 29.5% of the India population lives below the poverty line as defined by the panel against 21.9% according to Tendulkar.
C Rangarajan, former chief of the Prime Minister’s Economic Advisory Council (PMEAC), has submitted a report on Tendulkar Committee methodology for estimating poverty to Planning Minister Rao Inderjit Singh on 1 July. According to an expert panel headed by C Rangarajan those spending over Rs 32 a day in rural areas and Rs 47 in towns and cities should not be considered poor. The panel’s recommendation, however results in an increase in the below poverty line population, which is estimated at 363 million in 2011-12, compared to the 270 million estimate based on the Tendulkar formula. This means 29.5% of the India population lives below the poverty line as defined by the panel against 21.9% according to Tendulkar.
JUNE
Saumitra Chaudhuri Committee Suggest
Cess Levy On Petrol and Diesel
A Government panel headed by former Planning Commission member Saumitra Chaudhuri has suggested levying cess amounting to 75 paise a litre on petrol and diesel in order to cover the cost of upgrading refineries across the country to produce higher grade of auto fuel for the future – in other words achieve Bharat Stage (BS) V level norms by the year 2020 – which comes to around Rs 80,000 crore. The Chaudhuri panel had recently submitted its report titled “Auto Fuel Vision and Policy 2025″ to the MoPNG.
A Government panel headed by former Planning Commission member Saumitra Chaudhuri has suggested levying cess amounting to 75 paise a litre on petrol and diesel in order to cover the cost of upgrading refineries across the country to produce higher grade of auto fuel for the future – in other words achieve Bharat Stage (BS) V level norms by the year 2020 – which comes to around Rs 80,000 crore. The Chaudhuri panel had recently submitted its report titled “Auto Fuel Vision and Policy 2025″ to the MoPNG.
MAY
P. J Nayak Committee For Diluting Govt
Stake In Public Sector Banks To Below 50 percent
The Reserve Bank of India (RBI) committee report has recommended on 13 May that the government should divest its stake in state-owned banks to less than 50%, allow private equity houses to own 40% in distressed banks, and strip managers of private sector banks of their bonuses and Esops if they are caught ever-greening sticky loans. The report covers 27 state-controlled lenders. The committee was led by P. Jayendra Nayak, the former chief executive of Axis Bank Ltd. and former India country head of Morgan Stanle
APRIL
The Reserve Bank of India (RBI) committee report has recommended on 13 May that the government should divest its stake in state-owned banks to less than 50%, allow private equity houses to own 40% in distressed banks, and strip managers of private sector banks of their bonuses and Esops if they are caught ever-greening sticky loans. The report covers 27 state-controlled lenders. The committee was led by P. Jayendra Nayak, the former chief executive of Axis Bank Ltd. and former India country head of Morgan Stanle
APRIL
Anand Sinha Committee Recommends Benchmark
For Floating Interest Rate
A Reserve Bank of India (RBI) committee headed by former RBI Deputy Governor Anand Sinha suggested a benchmark floating interest rate, especially for home loans, to bring greater transparency in the pricing of credit.The committee on 10 April released Draft Report on ‘Working Group on Pricing of Credit’. As per the report, the Indian Banks Association (IBA) may develop a new benchmark for floating interest rate products, namely, the Indian Banks Base Rate (IBBR), which may be collated and published by IBA on a periodic basis.
A Reserve Bank of India (RBI) committee headed by former RBI Deputy Governor Anand Sinha suggested a benchmark floating interest rate, especially for home loans, to bring greater transparency in the pricing of credit.The committee on 10 April released Draft Report on ‘Working Group on Pricing of Credit’. As per the report, the Indian Banks Association (IBA) may develop a new benchmark for floating interest rate products, namely, the Indian Banks Base Rate (IBBR), which may be collated and published by IBA on a periodic basis.
MARCH
Shyamala Gopinath
Committee Recommendations
The Union Government on 4 March 2014 decided to hike interest rates on fixed deposit schemes offered by post offices by up to 0.2 %. The decision to hike interest rates is taken on the recommendations of Reserve Bank of India (RBI) Deputy Governor Shyamala Gopinath Committee.As per the Shyamala Gopinath Committee’s recommendations - The interest rate on fixed deposits for one and two years has been increased to 8.4% from the present 8.2%. Fixed deposits of three and five years will earn 0.1% higher rate at 8.4% and 8.5%. The rate on National Savings Scheme (NSC) with 5 and 10 year maturities also remain unchanged at 8.5 % and 8.8 %. The new interest rates on small savings schemes will come into effect from April 1, 2014.
The Union Government on 4 March 2014 decided to hike interest rates on fixed deposit schemes offered by post offices by up to 0.2 %. The decision to hike interest rates is taken on the recommendations of Reserve Bank of India (RBI) Deputy Governor Shyamala Gopinath Committee.As per the Shyamala Gopinath Committee’s recommendations - The interest rate on fixed deposits for one and two years has been increased to 8.4% from the present 8.2%. Fixed deposits of three and five years will earn 0.1% higher rate at 8.4% and 8.5%. The rate on National Savings Scheme (NSC) with 5 and 10 year maturities also remain unchanged at 8.5 % and 8.8 %. The new interest rates on small savings schemes will come into effect from April 1, 2014.
FEBRUARY
Bimal Jalan Committee
On Bank Licences Submits Recommendations To RBI
The Bimal Jalan committee which is scrutinising applications for new bank licences submitted its report to the Reserve Bank of India (RBI) on 25 February.The committee led by former Reserve Bank of India (RBI) Governor Dr Jalan held its third and final meeting before submitting its recommendations to the central bank.
The Bimal Jalan committee which is scrutinising applications for new bank licences submitted its report to the Reserve Bank of India (RBI) on 25 February.The committee led by former Reserve Bank of India (RBI) Governor Dr Jalan held its third and final meeting before submitting its recommendations to the central bank.
JANUARY
Nachiket Mor Committee’s
Report on Financial Inclusion
The committee constituted by the Reserve Bank of India (RBI’s) on 23 September 2013 to suggest steps for promoting financial inclusion headed by veteran banker and ex-ICICI Bank executive director Nachiket Mor. The committee on 7 January 2014 suggested setting up of specialised banks to cater to low income households to ensure that all citizens have bank accounts by January 1, 2016
The committee constituted by the Reserve Bank of India (RBI’s) on 23 September 2013 to suggest steps for promoting financial inclusion headed by veteran banker and ex-ICICI Bank executive director Nachiket Mor. The committee on 7 January 2014 suggested setting up of specialised banks to cater to low income households to ensure that all citizens have bank accounts by January 1, 2016
Hi. I’m Designer of Blog Magic. I’m CEO/Founder of ThemeXpose. I’m Creative Art Director, Web Designer, UI/UX Designer, Interaction Designer, Industrial Designer, Web Developer, Business Enthusiast, StartUp Enthusiast, Speaker, Writer and Photographer. Inspired to make things looks better.
0 comments:
Post a Comment