Regulatory Review Authority (November 2021) It's a reform that never received the credit it deserved. It incorporated some of the best practices from global central banks on consultation ahead of policy formulation; feedback from regulated entities (REs) and trade bodies; and structured meetings with banks' CEOs and senior compliance officials. Over 400 circulars were withdrawn. It was the central bank's 'open-door policy' aimed at fostering better engagement with REs. Regulatory Review Authority (RRA) 2.0 came two decades after Y V Reddy, as deputy governor, set up the first edition of RRA in 1999.
Playing the diplomat on new bank licences (November 2021) A Mint Road Internal Working Group (IWG) had, on November 20, 2020, made a case for large corporate and industrial houses as promoters of banks. It also suggested that large non-banking financial companies (NBFCs) with an asset size of ₹50,000 crore and above (including those owned by corporate houses) be considered for conversion into banks. However, instead of saying 'no' (which would have been seen as inflexible), the Reserve Bank of India (RBI) played it smart. While accepting 21 of the IWG's 31 recommendations, it said that "the remaining recommendations are under examination".
Housekeeping in shadow banks (October 2022)
This story is from the December 10, 2024 edition of Business Standard.
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This story is from the December 10, 2024 edition of Business Standard.
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Gukesh draws against Liren in 13th game
Indian Grandmaster D Gukesh (pictured) tried his best but could not break past a resilient defending champion Ding Liren of China and had to settle for a draw after 68 moves in the 13th and penultimate game of the World Chess championship on Wednesday.
Indian tourist boom spurs revival in US hotel revenues
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Willow sets the stage for AI's quantum leap
With Google announcing the milestone of Willow—a state-of-the-art quantum computing chip that can solve complex problems in under five minutes, a computation so complex it would have taken a supercomputer around 10 septillion years to complete—tech experts believe this breakthrough could impact artificial intelligence (AI), particularly by making it more accessible to the masses.
Content overload causing indigestion
PRASOON JOSHI (53) began as a writer in his teens, did an MBA and then got into advertising. From Daag Ache hain (Surf Excel) to Thanda Matlab Coca-Cola, his work shone with an Indianness that changed the way marketers spoke to consumers. His second foray into writing, as a lyricist (Taare Zameen Par, Delhi 6, etc), dialogue writer (Rang De Basanti) and then a scriptwriter (Bhaag Milkha Bhaag) has been successful. In 2017, he became the head of the Central Board for Film Certification (CBFC). In November this year, Joshi forayed into theatre, with Rajadhiraaj: Love. Life. Leela., a musical depicting the journey of Shri Krishna. In a video interview, Vanita Kohli-Khandekar spoke to Joshi about the play and other things. Edited excerpts:
STAR TREK
As Mercedes completes three decades in India, its three-pointed star sits atop the luxury table. What drives it?
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