Sitharaman addresses RBI board, explains priorities of government


Finance Minister on Tuesday explained the government’s priorities to the Reserve Bank of India’s central board during their first meeting after presentation of the Union Budget 2021-22.


As per the tradition, the finance minister holds customary meeting with the board members of the RBI and the Securities and Exchange Board of India (Sebi) after Budget presentation every year.



The finance minister addressed the 587th RBI central board meeting and informed the members about the key initiatives in the Budget and the priorities of the government, RBI said in a statement.


“Complimenting the finance minister on the budget, the board members made various suggestions for consideration of the government,” it added.


At its first meeting after the presentation of the Budget for 2021-22, the central board of directors also reviewed the current economic situation.


“The board in its meeting reviewed the current economic situation, global and domestic challenges and various areas of operations of the Reserve Bank, including ways for strengthening of grievance redress mechanism in banks,” it said.


The meeting on Tuesday was chaired by RBI Governor Shaktikanta Das through video

Read More

Future says Amazon asked for $40mn as compensation for RIL deal


Future Group has alleged that had asked for USD 40 million (around Rs 290.41 crore) in compensation for the deal with Reliance Industries, a charge that the e-commerce major termed as “false and misleading claims”.


According to documents submitted to the emergency arbitrator of SIAC by the Kishore Biyani-led firm, had asked for USD 40 million in compensation from Future Group for the deal with Reliance Industries, and that the US-based company was well aware of the Rs 24,713 crore Future-RIL deal.



However, an spokesperson said the company denies the “false and misleading claims being made by the Future Group on a purported request for compensation to forego the right of first refusal”.


“This is a questionable and an ill-timed attempt to mislead the public at large more particularly when Amazon has filed a special leave petition in the Supreme Court. Amazon has consistently offered to assist FRL during the economic downturn caused by COVID and reiterated our openness for a dialogue even during the Delhi High Court hearings, which was declined by Future Group,” the spokesperson said in an emailed statement.


In August

Read More

Foreign Contractor Killed, Others Wounded In Arbil Rocket Attack

A volley of rockets targeting an airbase in Iraq’s Kurdistan region late on Monday killed a foreign civilian contractor and wounded five others and a US soldier, the US-led coalition said.

The attack was the first time Western military or diplomatic installations have been targeted in Iraq in nearly two months, after a string of such incidents.

Under former US President Donald Trump, Washington had vowed that the killing of an American national in such a rocket attack would prompt a mass bombing campaign in Iraq.

At around 9:30 pm (1830 GMT), an AFP reporter heard several loud explosions in the northwestern outskirts of Arbil, the capital of Iraq’s autonomous Kurdistan region.

Iraqi and Western security sources told AFP that at least three rockets were fired in the direction of the city’s airport, where foreign troops are based as part of an international alliance fighting the Islamic State group.

Coalition spokesman Colonel Wayne Marotto confirmed to AFP that the dead contractor was not Iraqi, but could not give immediate details on the victim’s nationality.

Two other rockets hit residential neighbourhoods on Arbil’s outskirts.

Delovan Jalal, the head of Arbil’s health directorate, told AFP at least five civilians were wounded and

Read More