'When there is no middle ground possible between the government and the governor, the governor has to go.'
'It will be interesting to see how Dr Patel handles gadflies with the maturity of egregiously petulant three year olds.' 'That Dr Patel does not, in so far as we can tell, cause society matrons to gush like hormonal teenagers can only be a good thing for him.' 'Look where their febrile imaginations and breathless prose took his predecessor.'
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The Reserve Bank released a report on 'Banking Structure in India -- The Way Forward' in August 2013, which covered issues such as consolidation of large-sized banks with a view to have a few global-sized banks and the desirability and practicality of having small, localised banks as preferred vehicles for financial inclusion.
Rajan has ignored pressure to loosen policy.
India needs to move towards full capital account convertibility to become a leading global economy.
Kotak announced a 0.15 per cent cut in base rate to 9.85 per cent.
Duterte had consistently led the Time 100 Reader Poll, an online survey in which the publication had asked its readers to vote for who should be included in this year's Time 100 list of the world's most influential people.
Reserve Bank of India (RBI) governor Raghuram Rajan says global markets are at risk of a "crash" should investors start bailing out of risky assets created by the loose monetary policies of developed economies.
Given Indian corporates's high indebtedness, new credit will be used for servicing loans rather than building factories. This is setting us up for more companies on life support and more zombie banks, warns Rahul Jacob.
The RBI governor has to convert the zero-sum game with the government from a non-cooperative one -- which his two predecessors had made it -- to a cooperative one, explains T C A Srinivasa Raghavan.
The right policy response to global price increases is not straightforward. The draft report is wide-ranging in its scope, and it attempts to provide a coherent, integrated view of financial sector reforms that would equip India's financial sector to support growth, widen financial access and maintain stability over the next decades. The report is being released for public discussion at a critical juncture in both the domestic and global economy.
'Access to finance is one of the most crucial needs in the economy.'
'Urjit Patel's appointment is a right decision and in the interest of the country.'
The Indian response came as Pakistan summoned India's Acting Deputy High Commissioner S Raghuram and expressed concern over the cancellation of operation of Samjhauta Express on Thursday due to farmer protest in India leaving over 200 passengers from both countries stranded.
The chargesheet involving India Cements also named two senior serving IAS officers -- special chief secretary (environment and forests), M Samuel, and principal secretary of the irrigation department, Adityanath Das.
Dhoot stated that Value Industries has not withdrawn the application and has only sought clarifications from RBI on certain issues.
Considering the economic downturn, the banking sector should help strengthen the cooperative sector to encourage small and medium industries and create jobs, Chavan said.
Rajan said that despite easy liquidity, banks have passed rate cuts into lending rates modestly.
Barry Eichengreen, professor of economics and political science, University of California, Berkeley, analyzes the transparency of the Reserve Bank of India, the growth rate of the Indian economy and why he feels globalisation can never be rolled back.
While Chanda Kochhar got a pay of Rs 2.66 crore, Arundhati Bhattacharya took home only Rs 28.96 lakh
Urjit Patel as the new RBI governor whose focus is on taming inflation has lowered the probability of interest rate cut soon
'I would say restore the banks to health, get active board composed of professionals, then there will be an ideal situation for merger.'
Supported by greater demand from both domestic and external markets, total new business rose at the fastest pace since March
Jaitley said if interest rates were lowered, the economy could grow faster than 7-7.5 per cent.
All policy planners want low interest rate, says Jaitley
RBI Governor Raghuram Rajan on Friday defended his development index for measuring backwardness of states, saying the aim is to "encourage development" and "everything over and above that is a political spin."
The move will to a large extent speed up the monetary transmission process--which is banks passing on the rate cuts that the Reserve Bank announces to their borrowers without much delays--something that has been missing all these while and something that the RBI has been unhappy with.
Rajan was speaking in Hyderabad at an interactive session at National Institute of Rural Development and Panchayati Raj.
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