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Finance Commission: Enlightened leadership needed to resolve north-south divide on distribution of tax pool: Ex-RBI Guv Duvvuri Subbarao

Former RBI Governor Duvvuri Subbarao has argued that enlightened leadership at both the Centre and State levels is necessary to resolve the north-south divide in determining the distribution of the tax pool among states. He cited the fact that richer states like Tamil Nadu and Maharashtra receive less than a rupee for every rupee they contribute to the Centre s taxes, while poorer states like Bihar and Jharkhand receive more than a rupee. ....

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RBI slaps penalties on Five Co-op Banks for Regulatory Breaches

The Reserve Bank of India has imposed penalties on five cooperative banks for breaching RBI norms. Vaish ....

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How fintech revolution may have opened the floodgates to fraud

Transactions are faster, but more complex. Regulatory sanctions against Kotak Mahindra Bank weren’t the first they won’t be the last ....

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Business News: Discussions underway with RBI on crypto, digital currency: FM Sitharaman

Discussions underway with RBI on crypto, digital currency: FM Sitharaman : Rashtra News #Discussions #underway #RBI #crypto #digital #currency #Sitharaman Finance Minister Nirmala Sitharaman on Monday said discussions with regard to private cryptocurrencies and central bank-backed digital currency have been going on with the Reserve Bank and a decision will be taken after due deliberations. ....

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Bank deposit rates rise, but yet to fully reflect repo hike

Regulator-market discord on rate transmission persists. Fresh term deposits show full 2.5% repo rate hike. Interest margins squeezed, WADTDR at 6.62% in March. WALR for commercial banks at 9.37%. ....

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