Based on current status, anybody would have made a program with title 'RBI vs Govt.' but only RSTV can make 'RBI & Govt.' there by giving solution too to the problem (work together) 🤝
This is the level of panelists we the future Administrators of India wants. And, tackling this situation as a joint family is the idea which can result in solution of this scenario.
Section 7 (1) Of The RBI Act, 1934 - "The Central Government may from time to time give such directions to the Bank as it may, after consultation with the Governor of the Bank, consider necessary in the public interest " Section 7 empowers the government to issue directions to the RBI This section has never been used in till now The gov considers giving directions to RBI under Section 7 Gov is the owner of the RBI. Profits of the RBI belong to the Gov Section 7 has 2 parts 1) Consultation 2) Giving Directions the Allahabad High Court was hearing a petition from power companies who challenged stringent non-performing assets (NPA) norms notified by the RBI in February (Popularly known as the February 12 circular) Allahabad High Court Verdict - The government can issue directions to the RBI on regulatory and policy matters under section 7 The Deputy Governor Viral Acharya warned against encroaching on RBI autonomy The language of Viral Acharya’s speech was uncalled for The RBI Deputy Governor could have used a more nuanced language to communicate issues with government The RBI regulates the entire finance system.. The Gov wants the RBI to relax lending restrictions by weak banks (The bone of contention) The gov wants the RBI to open a special liquidity window for NBFCs (The bone of contention) The gov wants the RBI be lenient on loans to MSMEs (The bone of contention) Most of the Loans are coming from the public sector (One of the Major Issues) The Gov and the RBI should not let this issue go further as it will seriously affect investors.. Consultation process is very important The gov has the sovereign right to decide about the composition of the management The role of finance secretory is different from the RBI governor The Finance secretory is not a policy maker The execution of polity is made by the ministers The RBI act was amended - Bcz the gov thinks the autonomy of the RBI is a positive thing.. Should be worked on certern objective principles (Political pressures should not be crept in) Loan waiver - Political act done by the Gov The Monitory Policy Committee and The Banking Regulatory Authority should be together The need for autonomy should preserve the confidence of both domestic and foreign investors (No Compromise) The Autonomy is good but the accountability should be there The investors take decision for a long term (So there should be Stable financial system ) The gov should not force the RBI to do something (Deleterious effects in future) The Finance ministry is responsible for fiscal policy issues Stability, growth and inflation management (Goals to be achieved) Two Arms of The Same Body (According to Frank's point of view) A Part of A Joint Family (According to A. K. Bhattacharya) Kindly let me know if I missed any key points or had made any serious mistakes... Awesome Discussion !!! Thank You So Much Rajya Sabha TV
Unfortunately, for our democracy, it is the face-value that sells. The majority that votes sees vested interests.. Votes for liquor, Sari, goodies.. ask that class what the institutions' autonomy debate is.. they won't know.
Is this not the arrogance of this government what we are seeing today from CBI, SC, EC, CVC, to RBI ? Specifically in RBI row if government is not able manage its fiscal deficit then why RBI should pay the trouble that has been produced by the government. Government should have the confidence in RBI while meeting with them on sensitive and remarkable issues of economy and monetary policies. RBI is doing what it should do as an autonomous body or Central Bank of this country but government has done nothing on NPA and now implementing Section 7 because of their arrogance and economic mismanagement from giving loan waivers to farmers to very low investment in India and with these situations investors are going to take their investments outside India whatever they have. Let's see how economy and RBI goes and in which direction?
No one is saint here, RBI is also on faults here... They are obliged to give dividends from income as do all central banks do. Further, there is real issue of liquidity as seen by NBFCs conditions. Government is frustrated by the way NPAs has been tackled by them (specially the case of PNB as they are on bank boards , having power to audit and command ). But they have passed all the bucks on government. Yes, BJP being ideologue of indigenousness and industrial development, they want greater liquidity for MSMEs. I don't find a fault as previous economic model has not given adequate result.
@@krishnavashistha7481 Govt.(or public) is the owner of Public banks like PNB. since Govt. is the major share-holder it has most influence on decision-making including selection of board of directors. RBI is only the regulator. You can't put all the blame on RBI for NPA problems as most of the NPA problem is in public sector banks.
Section 7(1) in The Reserve Bank of India Act, 1934: The Central Government may from time to time give such directions to the Bank as it may, after consultation with the Governor of the Bank, consider necessary in the public interest.
Dear Mr Frank Pereira - thanx for hosting this important video clip...Further mai I suggest to you not to grow beard, otherwise we will miss your innocent face n your magic smile...
DEVOLUTION OF POWERS - this debate is going on since independence . In the constitutional assembly , when the states are carved out from the Indian union , many parliamentarians are in favor of giving some autonomous & independent powers to states . same is true for , when we create some other institutions (Like RBI , ECI etc ) . So , if central gov. don't have a confidence in them , then what is the purpose behind for their creation . its an obligation on the gov. to provide an autonomous environment to their institutions , so that they can work independently , and fulfill their responsibilities which has given to them .
We should not blame for anyone ...at the end of day performance is checked by people's of the country...I think gov is playing there part correctly..we move from 142 to 77 rank in ease of doing business bcoz of gov policies... speculation is not always helpful...we should accept there was an integrity deficit on the regulatory part of the RBI which is resulted as huge piles of NPA...
@Anurag mishra I agree 👍. Just to give a better perspective, Pre 2008 crisis banking euphoria propelled ,fuelled by 8% + gdp growth of country has resulted in to imprudent, mindless,unchecked lending by banks. Later when Crisis happened in West they started to give loans to capitalist industries of developing countries in abysmally low rate, which dried out our bank's market for newer lending. Previous borrowers fail due to various reason, prominent being our 'so govt policy. Huge chunk got trapped in infra projects, mainly real estates which was goverened by jungle rule before new RERA act. Our Mutual fund market, capital markets have also fall prey to same trap....... So there are many issue which are interwoven and interelated one being RBI 's weak supervision, absence of regulatory guidelines like today's PCA, S4A, AQR, stressed asset restructuring etc, absence of cyber laws, obsolate & silo woring mechanisms for inter bank & Bank -RBI communication have aggravated the a simple wound to a big injury......... I really appreciate u r interest and view in this....
Day by day bjp losing popularity. Interfering in cbi , RBI , making appointments without leader of opposition party , cji , wasting 💰 in stutues and affecting areas of tribal people. Will see tight election in 2019.🎉🎉
Ease of doing business is not directly related to the health of the economy rather it is based on several other parameters. I may be wrong but that is primary understanding. What killed the economy to a great extend was the demonatization, and now the government is frantically looking for other options to tackle the fiscal deficit and i believe thats the reality
It would be apt if you had put the title "Sec 7 and RBI'. Your 70%time on debate was focussed only on sec 7. I think debate missed some of the critical issues.Mr.Ashok nag tried to touch a little some of those issues. P.S. Mr.Frank asking about sec 7 repeatedly made debate unbalanced and superflous.
Who's going to monitor if they are engaging in an organized mess such as bad loans, who were supposed to monitor them? In the democracy, the elected government should have full rights to question any organization in the country. as per the constitution. The organizations were not formed on their own, we don't need an elected government when organizations supposed to work with total autonomy.
Suppose if they behave in an autocratic way which leads to destruction of nation who will be accountable for so??autonomy without accountability is meaningless n destructive which we are already facing by media..
@@mohanmadhavaram4991 excellent 👏👏👏. ..they must be held responsible to parliament n state assembly and their work should be monitored by the elected government.
Someone tell the animals in times now and Republic, that this is how humans debate.
Subham Goenka bhai this imo is not a debate.. this is a discussion.
It happens on each and every channel nowadays.
🤣🤣
Omg. Ikr. 😂😂😂
But animals listen to none other than their masters (here their funding politicians )
Based on current status, anybody would have made a program with title 'RBI vs Govt.' but only RSTV can make 'RBI & Govt.' there by giving solution too to the problem (work together) 🤝
Vijay Thyagan Great observance and henceforth,analysis.
Great observation really Vijay
Good observation
great observation. I must say
Right Observation 👍🏻👍🏻👍🏻
How many of you are for here UPSC IAS??
Not for UPSC...but for RBI Grade B
I'm here for upsc
yeah..
For upsc
🤗
This is the level of panelists we the future Administrators of India wants. And, tackling this situation as a joint family is the idea which can result in solution of this scenario.
frank really has a great skill to manage debate and take out valuable analysis from all penalists within this short timespan👍👍
frank wants to look hansome in Diwali. so preparing for that:):)
Section 7 (1) Of The RBI Act, 1934 - "The Central Government may from time to time give such directions to the Bank as it may, after consultation with the Governor of the Bank, consider necessary in the public interest "
Section 7 empowers the government to issue directions to the RBI
This section has never been used in till now
The gov considers giving directions to RBI under Section 7
Gov is the owner of the RBI. Profits of the RBI belong to the Gov
Section 7 has 2 parts 1) Consultation 2) Giving Directions
the Allahabad High Court was hearing a petition from power companies who challenged stringent non-performing assets (NPA) norms notified by the RBI in February (Popularly known as the February 12 circular)
Allahabad High Court Verdict - The government can issue directions to the RBI on regulatory and policy matters under section 7
The Deputy Governor Viral Acharya warned against encroaching on RBI autonomy
The language of Viral Acharya’s speech was uncalled for
The RBI Deputy Governor could have used a more nuanced language to communicate issues with government
The RBI regulates the entire finance system..
The Gov wants the RBI to relax lending restrictions by weak banks (The bone of contention)
The gov wants the RBI to open a special liquidity window for NBFCs (The bone of contention)
The gov wants the RBI be lenient on loans to MSMEs (The bone of contention)
Most of the Loans are coming from the public sector (One of the Major Issues)
The Gov and the RBI should not let this issue go further as it will seriously affect investors..
Consultation process is very important
The gov has the sovereign right to decide about the composition of the management
The role of finance secretory is different from the RBI governor
The Finance secretory is not a policy maker
The execution of polity is made by the ministers
The RBI act was amended - Bcz the gov thinks the autonomy of the RBI is a positive thing..
Should be worked on certern objective principles (Political pressures should not be crept in)
Loan waiver - Political act done by the Gov
The Monitory Policy Committee and The Banking Regulatory Authority should be together
The need for autonomy should preserve the confidence of both domestic and foreign investors (No Compromise)
The Autonomy is good but the accountability should be there
The investors take decision for a long term (So there should be Stable financial system )
The gov should not force the RBI to do something (Deleterious effects in future)
The Finance ministry is responsible for fiscal policy issues
Stability, growth and inflation management (Goals to be achieved)
Two Arms of The Same Body (According to Frank's point of view)
A Part of A Joint Family (According to A. K. Bhattacharya)
Kindly let me know if I missed any key points or had made any serious mistakes...
Awesome Discussion !!!
Thank You So Much Rajya Sabha TV
Frank sir in "No-Shave-November" mode😛 Looking cool:))
Things has come to this pt.just bcoz we the people of india are more interested in ram madir ,staues and bigboss than national affairs.. 😟😟😟
Rightly pointed out the facts👍🏻👍🏻👍🏻
Tnx #RSTV 4 such a balanced debate & given clear picture of using section 7 .🤗
Thanx big picture for clearing doubt about Finance ministry v/s RBI
Very informative productive discussion. Appreciate co_ ordinator and esteemed well knowledge participants
Good topic,Great debate.
BJP Govt wants to control every institution in this country which isn't good.They will pay for this in upcoming elections.
Yes they will
Don't you get the meaning of this debate. Don't play politics here
Differences have been there between Government and Central bank from time immemorial. This is a global phenomenon.
Unfortunately, for our democracy, it is the face-value that sells. The majority that votes sees vested interests.. Votes for liquor, Sari, goodies.. ask that class what the institutions' autonomy debate is.. they won't know.
Yeah dude paid 😁😁😁
Enjoyed every bit of the debate. Such a mature and profound panelists.
good way question Mr. Frank
on accontability vs autonomus
Is this not the arrogance of this government what we are seeing today from CBI, SC, EC, CVC, to RBI ?
Specifically in RBI row if government is not able manage its fiscal deficit then why RBI should pay the trouble that has been produced by the government.
Government should have the confidence in RBI while meeting with them on sensitive and remarkable issues of economy and monetary policies.
RBI is doing what it should do as an autonomous body or Central Bank of this country but government has done nothing on NPA and now implementing Section 7 because of their arrogance and economic mismanagement from giving loan waivers to farmers to very low investment in India and with these situations investors are going to take their investments outside India whatever they have.
Let's see how economy and RBI goes and in which direction?
Actually they want their own rule and Constitution. Rss ideology.☺️😊
@@govtexamprep2219 Let manusmriti rule the RBI....
No one is saint here, RBI is also on faults here... They are obliged to give dividends from income as do all central banks do. Further, there is real issue of liquidity as seen by NBFCs conditions. Government is frustrated by the way NPAs has been tackled by them (specially the case of PNB as they are on bank boards , having power to audit and command ). But they have passed all the bucks on government.
Yes, BJP being ideologue of indigenousness and industrial development, they want greater liquidity for MSMEs.
I don't find a fault as previous economic model has not given adequate result.
@@krishnavashistha7481 Govt.(or public) is the owner of Public banks like PNB. since Govt. is the major share-holder it has most influence on decision-making including selection of board of directors. RBI is only the regulator. You can't put all the blame on RBI for NPA problems as most of the NPA problem is in public sector banks.
Come on guys keep these stupid comments for quint and wire.have something constructive here on RS tv...
Section 7(1) in The Reserve Bank of India Act, 1934:
The Central Government may from time to time give such directions to the Bank as it may, after consultation with the Governor of the Bank, consider necessary in the public interest.
Dear Mr Frank Pereira - thanx for hosting this important video clip...Further mai I suggest to you not to grow beard, otherwise we will miss your innocent face n your magic smile...
DEVOLUTION OF POWERS - this debate is going on since independence . In the constitutional assembly , when the states are carved out from the Indian union , many parliamentarians are in favor of giving some autonomous & independent powers to states . same is true for , when we create some other institutions (Like RBI , ECI etc ) .
So , if central gov. don't have a confidence in them , then what is the purpose behind for their creation .
its an obligation on the gov. to provide an autonomous environment to their institutions , so that they can work independently , and fulfill their responsibilities which has given to them .
Dear RSTV Need a debate on CBI controversy
More centralised system is needed for making India great again👏👌💪
Franc Sir.... You look more good in clean shave.
I guess Frank took no shave November seriously.
Sir Please add subtitles in this debate........
Why you call Mr. Ashok Nag to the programme when you don't allow him the reasonable time to talk on his views...
Thanks rstv, 01/11/2018
Awesome explanation
another good debate .
Sir subtitles ¿¿¿¿¿¿¿¿¿¿¿
Subtitle option pls
Nitin desai best penalist in this debate secretary is not very clear in his views
Frank sir ,Kisi ki na suno aapse smart h hi nhi koi ..hahaha
We should not blame for anyone ...at the end of day performance is checked by people's of the country...I think gov is playing there part correctly..we move from 142 to 77 rank in ease of doing business bcoz of gov policies... speculation is not always helpful...we should accept there was an integrity deficit on the regulatory part of the RBI which is resulted as huge piles of NPA...
In my view, your comment is biased in the favor of govt.
Right economic policy lacuna also have a play. RBI could have checked & have acted strongly does not make a full argument.
@@santoshkumarbarik8134 it's very true ...I just saying that policy of regulatory forbearance opted by RBI was questionable in present environment ...
@@anilbera9499 I'm respecting your view🙏
@Anurag mishra I agree 👍. Just to give a better perspective, Pre 2008 crisis banking euphoria propelled ,fuelled by 8% + gdp growth of country has resulted in to imprudent, mindless,unchecked lending by banks. Later when Crisis happened in West they started to give loans to capitalist industries of developing countries in abysmally low rate, which dried out our bank's market for newer lending. Previous borrowers fail due to various reason, prominent being our 'so govt policy. Huge chunk got trapped in infra projects, mainly real estates which was goverened by jungle rule before new RERA act. Our Mutual fund market, capital markets have also fall prey to same trap....... So there are many issue which are interwoven and interelated one being RBI 's weak supervision, absence of regulatory guidelines like today's PCA, S4A, AQR, stressed asset restructuring etc, absence of cyber laws, obsolate & silo woring mechanisms for inter bank & Bank -RBI communication have aggravated the a simple wound to a big injury.........
I really appreciate u r interest and view in this....
No franksir u rvlooking vry good here there is noissue of beard tnx sir
frank good
two arms of the same body!
Mr.Bhattacharya🤣That guy needs to let Frank finish the question.
Awesome debate ,
Damnn..did Mr. Bhattacharya just cut short Frank's sentence? xD
Sir beard is not suiting your face 😔😔
Well that's my view 😅😅
@journey of anand sharma yup kind of 😅😅
@journey of anand sharma is beard prohibited there?
Thanks sir... 😊
SIR MAKE SUBTITLES IN VIDEO PLEASE.............................
Day by day bjp losing popularity. Interfering in cbi , RBI , making appointments without leader of opposition party , cji , wasting 💰 in stutues and affecting areas of tribal people. Will see tight election in 2019.🎉🎉
Why does Frank always looks like as if he is sleepy
This govt. Is gober govt. And finance minister is zombie.
that's why ease of doing business came to 77 from 140's in past four year
Ease of doing business is not directly related to the health of the economy rather it is based on several other parameters. I may be wrong but that is primary understanding. What killed the economy to a great extend was the demonatization, and now the government is frantically looking for other options to tackle the fiscal deficit and i believe thats the reality
@@cricketkedewane8362 : Try opening a small business..start with Mudra Loan...Bank will show you door straight on your face...
sir your beard is distraction .
your comment too, for me :p
haha
Rbi and gover. in beetwin should mostsly good comestary otherwise out big problems for country . careining and done work
Subtitles sir ?
DON FRANK
Honestly,Frank sir is looking rough and tough.
Compare his face with earlier big pic. episode and you will appreciate his new look.
👍👍👍👍👍👍👍👍👍👍👍👍👍👍👍👍
Nice video 👍 👌
Panelists👍
It would be apt if you had put the title "Sec 7 and RBI'.
Your 70%time on debate was focussed only on sec 7.
I think debate missed some of the critical issues.Mr.Ashok nag tried to touch a little some of those issues.
P.S. Mr.Frank asking about sec 7 repeatedly made debate unbalanced and superflous.
Rbi have big resposblty so Rbi against government . understund government and discuss on section 7 ..
abhar
I feel sometimes Frank sir became bore due to febate😃😃
I think some organisations should be given full autonomy and power to do it's job freely without political influence as
1) RBI
2) ECI
3) CBI
4) MEDIA
CAG
CIC
SC
HCs
Lokpal
Lokyukta
If we make the list ..We have many like this
Who's going to monitor if they are engaging in an organized mess such as bad loans, who were supposed to monitor them? In the democracy, the elected government should have full rights to question any organization in the country. as per the constitution. The organizations were not formed on their own, we don't need an elected government when organizations supposed to work with total autonomy.
Suppose if they behave in an autocratic way which leads to destruction of nation who will be accountable for so??autonomy without accountability is meaningless n destructive which we are already facing by media..
@@mohanmadhavaram4991 excellent 👏👏👏. ..they must be held responsible to parliament n state assembly and their work should be monitored by the elected government.
Frank sir , aao kabhi haveli pe karawa lo clean shave yhi se..👍😊
Bring BJP again in 2019 and make India great again.
#MakeIndiaGreatAgain
RsTv👍
Frank are you following #noshavenovember ?
2 arms of same body nice
Frank sir , shave Kara lo. You should shave your beared
shankar Tiwari beard*