The Reserve Bank of India (RBI) does not target any price level on the rupee, Governor Sanjay Malhotra reiterated at an International Monetary Fund and World Bank event on Wednesday.
Of the eight RBI governors who have held office since the 1991 economic liberalisation, Bimal Jalan had the longest stint and S Venkitaramanan, the shortest. Current Governor Shaktikanta Das will overtake Bimal Jalan before completing his second term in December, points out Tamal Bandyopadhyay.
A prominent Indian Diaspora body, FIIDS, on Monday urged Finance Minister Nirmala Sitharaman to allow non-resident Indians and overseas citizens of India (OCI) card holders to invest in the Indian stock market. Such a move would boost the Indian economy further by attracting investment from the global Indian community, said the Foundation for India and Indian Diaspora Studies (FIIDS) USA. FIIDS is a US-based institute for US-India policy studies and awareness.
The IMF and World Bank have stopped loans, and the FATF warned its 39 member nations to block Taliban assets.
When Pandit was in Japan last week, meeting International Monetary Fund and World Bank officials, Michael E O'Neill, the new chairman of Citigroup since April, was applying the final touches of his masterplan to remove Pandit.
The meeting, on the sidelines of the Annual Spring session of the International Monetary Fund and World Bank, will happen within a couple days of about a dozen US industry associations writing to the US Treasury Secretary to take up the controversial move by India to amend the Income Tax Act with retrospective effect.
At the IMF, India is expected to link announcement of additional resources to the IMF to the implementation of 2012 quota reform.
According to the finance minister, India was compliant with most of the internationally accepted standards in banking, securities markets and insurance sector.
Finance Minister Pranab Mukherjee is cutting short his visit to Washington and rushing to New York to meet Prime Minister Manmohan Singh, amid a storm back home over his ministry's note to the prime ministers on the 2G scam.
On Wednesday, Mukherjee addressed two press conferences at the International Monetary Fund.
Ahead of the annual meeting of the IMF and World Bank here, a top US official indicated on Tuesday that greater representation of emerging economies in the bodies hinged upon their acceptance of greater accountability for the impact of their decisions on the global economy.
Finance Minister Jaswant Singh will not attend the spring meeting of International Monetary Fund and World Bank, starting in Washington on March 20.
The International Monetary Fund and World Bank heads want their shareholders' consensus before working to rebuild Iraq, but some countries worry the United States is trying to use the multilateral lenders to cut out the United Nations.
Expectations are high. There is a little bit of euphoria in India, says RBI governor.
FM said every major terrorist incident in the world has a 'Pakistani footprint' around it.
Speaking at the State Banquet hosted in the honour of President Pranab Mukherjee, Namibian President Hage Geingob said Namibia commends India's commitment towards peaceful use of nuclear energy.
Moody's Investors Service on Friday projected India's growth at zero per cent for the current fiscal and said the negative outlook on sovereign rating reflects increasing risks that GDP growth will remain significantly lower than in the past. The outlook also partly shows weaker policy effectiveness to address economic and institutional issues, it noted in the update to its November 2019 rating forecast.
A feature of this year's BRICS summit was economic cooperation.
Jaitley said the Congress party which ruled the country for decades is out of sync with the ground realities and aspirations of India as it exists now.
Soon after Prime Minister Modi's assertion, the G20 countries also came down heavily on terrorism.
UPA-II has yielded a 7.5 per cent average annual growth rate
There is also a lobby within the bureaucracy that wants to see Rajan's influence curtailed
If the new governor can think out of the box even as he signals that he can bat for the RBI cadre and respect its institutional memory, that will go a long way in getting out of the current impasse.
That is bad news for officials taking part in discussions at the International Monetary Fund and World Bank meetings this week.
Most mainstream researchers agree that good governance is a necessary condition for growth.
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