US President Barack Obama has nominated Janet Yellen to head the Federal Reserve Board, describing her as one of America's "foremost economists and policy makers".
The best way for India to prepare is by preserving and strengthening the RBI's hard-won credibility, point out Rajeswari Sengupta and Vaishali Garga.
If indeed we want the board to manage the RBI, probably the government should take a close look at the US Federal Reserve system which has a two-part structure - a central authority in Washington, DC, and a decentralised network of 12 Federal Reserve Banks located throughout the country, says Tamal Bandyopadhyay.
'Das is friendly, but he finally does what he does. The quality of engagement is very good.'
Noting that these three Cs haunt Indian education today, the Congress Parliamentary Party chairperson said in an article that this "carnage" of India's public education system must end.
Yellen is currently Vice Chairman of the Board of Governors of the Federal Reserve System.
In August, the Fed announced that it would develop a "new interbank 24x7x365 RTGS with integrated clearing functionality to support faster payments in the United States". The Fed Board asked for comments on FedNow by November. In reply to this, Google mentioned its experience of launching Google Pay -- Google's payments app which uses the UPI -- in India.
For five consecutive policy reviews in 2023, the Reserve Bank of India (RBI) chose to hold rates, citing inflation threat. And when the prices did cool off a bit, it reminded all about the target to get the headline consumer price inflation at 4 per cent and the risks from food inflation. Heading into the new year, all eyes are on when RBI will cut the rates, especially after one of the Monetary Policy Committee (MPC) members stressed on the need for such an action in the face of the US Federal Reserve's guidance for easing rates.
India may adopt norms similar to the US Federal Reserve model, which regulates conglomerate-led banks in the country.
President Donald Trump has tapped Jerome "Jay" Powell to lead the US central bank, bypassing Janet Yellen for a second term despite praising her excellent management of the world's largest economy over the past four years.
Tamal Bandyopadhyay offers some unsolicited advice for a government wh,ich came to power, with brute majority and the nation's pragmatic chief money man.
Reserve Bank Governor Shaktikanta Das on Wednesday said underlying economic activity in India continues to be strong, but external factors will cause some "dent" to the economy. Speaking at the BFSI Insight Summit 2022 organised by Business Standard, Das said the RBI tracks 70 fast moving indicators and most of them are in the "green box". It is the external sector, mired by a fear of recession or clear visibility about slowing growth in a large part of the world, where the challenges lie, he said, adding that the impact of external demand will "dent" the economy.
When he didn't respond (Mr Saver has lost count of how many relationship managers he has had in the past few years!), the gentleman landed up at his doorstep and started pleading with him to open fixed deposits with the bank, observes Tamal Bandyopadhyay.
The speed at which he led the central bank in different areas -- ranging from internal reorganisation to inflation fighting, stabilising the currency, taking on rogue corporations, cleaning up bank balance sheets, and opening the sector -- makes one believe that Rajan knew he had only three years to do his job. A fascinating excerpt from Tamal Bandyopadhyay's MUST-READ Roller Coaster: An Affair with Banking.
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 challenge for the RBI in 2024 is likely to be less about containing elevated inflation and more about curbing excessive financial market exuberance and a 'problem of plenty', notes Sajjid Chinoy, Chief India Economist JP Morgan.
India will welcome two trade missions in 2015 focused on meeting its infrastructure needs with US technology and services.
All evidence suggests that the US Federal Reserve will raise interest rates soon.
'The temptation of governments, to have a finger in the RBI pie will be just too great to resist, unless extensive amendments are carried out in the RBI Act treating it almost as the fourth branch of the government.'
It isn't Rajan ignoring money as much as it is Bernanke ignoring capital and exchange rates.
"We have to collectively address all doubts. The vision of flexibility with which this policy was brought... We will have to show in a similar way maximum flexibility in implementing it," Modi said while addressing the 'Governors' Conference on the Role of NEP in Transforming Higher Education'.
The next policy meeting will be in mid-June, when the panel will be joined by Stanley Fischer, the former Bank of Israel governor whose nomination to the Fed's board was confirmed on Wednesday by the US Senate.
The prime minister and president stated their intention to expand defence co-operation to bolster national, regional and global security.
Investors booked profit ahead of the outcome of the two-day US Fed policy meet which begins today.
The number of recoveries also surged with 2,48,189 patients cured so far, while there were 1,78,014 active cases, according to the updated official figures at 8 am.
Reserve Bank of India Governor Shaktikanta Das tells Anup Roy, Raghu Mohan and Niraj Bhatt that it is time for banks to lower interest rates and start lending to cash-starved finance companies after due credit appraisal and proper risk assessment.
Banks led the decline with Nifty Bank and BSE Bank index dropping over 3% each.
The Indian economy was on an impressive growth path through the first decade of this century till it was brought to an abrupt halt by the policy inertia during UPA2 and the Modi government's inability to restore economic and financial momentum. Fascinating glimpses of what went wrong from Puja Mehra's must-read book The Lost Decade: How India's Growth Story Devolved Into Growth Without A Story.
Khan stressed on taking austerity measures, working on tax reforms instead of taking loans, rooting out corruption.
India's good fortune, experts in the US feel, is not the result of a fundamentally strong economy, but because it is the best of a bad set of options.
Moving ahead with their new mantra -- Chalein Saath Saath: Forward Together We Go -- Prime Minister Narendra Modi and United States President Barack Obama on Tuesday vowed to deepen cooperation in every sector for the benefit of global stability and people's livelihoods over the next ten years.
'The approach towards Mallya is not right because his unit could have been turned around earlier with additional funds from his side and the bank's side.'
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances