Email By business editor Ian Verrender Updated November 27, 2017 19:56:53 Photo: The Prime Minister has repeatedly rejected the idea of a banking royal commission. (ABC News: Nick Haggarty) Related Story: Banking royal commission snub could fuel 'wipe-out' at next election, Liberal warns Related Story: What is a royal commission and why does Labor want one? Related Story: Turnbull cancels sitting week to deal with same-sex marriage vote Map: Australia The onslaught has begun.The television ads are in overdrive, the tame media commentators are barking and even the bankers themselves are putting on a parade, gracing as they did the stage at a "summit" last Thursday.And all within a week since rumblings from Coalition members threatening a private members bill to bring on a royal commission into banking.Those bloated profits from our financial institutions, they benefit all of us, we're told in soothing tones by reassuringly ordinary looking Aussies staring benignly from … [Read more...] about Royal commission into banking: The inquiry that could kill the Government
Reserve bank interest rate
Email By Anna Henderson and Dan Conifer Updated April 11, 2016 13:00:34 Related Story: Labor takes aim at big banks, promising royal commission Map: Australia Federal Opposition Leader Bill Shorten says an incoming Labor government would hold a royal commission into misconduct in the banking industry.We look at the role of royal commissions and what would likely be involved.What's a royal commission?Royal commissions are public inquiries governed by an act of Parliament. They can be called on any matter "connected with the peace, order and good government of the Commonwealth or any public purpose or any power of the Commonwealth".Why does Labor want one?The financial and banking sectors have been rocked by controversies in recent years. CommInsure scandal: Who's who?Meet some of the key players involved in the scandal engulfing one of Australia's biggest life insurers, CommInsure. In 2014 a Senate committee recommended a royal commission into the Commonwealth Bank … [Read more...] about What is a royal commission and why does Labor want one into the banking industry?
NEW DELHI: Sharp deceleration in manufacturing output and subdued farm sector activity pulled down India's gross domestic product (GDP) growth to over six-year low of 5 per cent in the April-June quarter of 2019-20. The gross value added (GVA) growth in the manufacturing sector tumbled to 0.6 per cent in the first quarter of this fiscal from 12.1 per cent expansion a year ago. Here are how Dalal Street experts and economists reacted to the GDP figures: Sujan Hajra, Chief Economist and Executive Director, Anand Rathi Shares & Stock BrokersGDP growth at 5% in Q1FY20 has been significantly below our expectations. India is now behind not only China, but also the Philippines and Indonesia in terms of real growth rate. While the slowdown is broad-based, the deterioration is most marked for private consumption and manufacturing. We feel that India would do better in the second-half of FY20. Yet, at least 7.5% growth would be needed in the last two quarters to reach even 6.5% growth … [Read more...] about GDP growth hits over 6-year low: Experts say 25-40 bps rate cut by RBI likely
In a chat with ET Now, Vallabh Bhanshali, Chairman, Enam Group talks about the latest government's demonetization policy and about global environment where developed markets are talking about protectionism. Whereas we can talk about merits and demerits in the way how the black money has been scrapped and what it will do to the financial system. At a broader level at a society level what do you think will automatically change because of this? I call this freedom fight, we had the political freedom achieved in 1947, we started the economic liberation in 1991 and this is a kind of social liberation. We had got so used to right from the British times to economy which had black money and then black money represented everything black in our life whether it was personal life, social life or political or I mean national interest. So from doing drugs to doing mujara to doing whatever it was always facilitated by black money and what this move has done is it has made that very very difficult. … [Read more...] about Government has done everything which is reformist, difficult: Vallabh Bhanshali
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