Rajan will evolve a policy with the help of professional persons for a national consensus if we have to carry on with implementing social and economic changes in a complex economy.
The finance ministry is working on a Cabinet note for establishing a full-fledged Public Debt Management Office, officials told Business Standard.
The Financial Stability and Development Council members include heads of regulatory bodies like RBI, Sebi and Insurance Regulatory Development Authority.
The windfall from RBI may be used to trim borrowing, help fund Rs 3.3 lakh crore capex plan, capitalise banks and provide fiscal stimulus to some stressed sectors, experts and economists said.
Former Reserve Bank Governors do not seen any harm in central bank consulting the government before firming up monetary policy initiatives saying such an step would not amount to infringement on its independence.
Interview with former Reserve Bank of India governor by Duvvuri Subbarao.
RBI ex-governor's book on 'those turbulent but exciting times' to be launched on Sept 5 in Chennai.
T C A Srinivasa-Raghavan recalls a tussle between the government and RBI when Rajiv Gandhi was prime minister and how it was resolved.
Lauding the pro-reforms approach adopted by Reserve Bank of India Governor Raghuram Rajan, industry body Confederation of Indian Industry on Thursday expressed the hope that the central bank would shift towards an expansionary monetary policy by cutting interest rates to stimulate growth.
A staunch defender of demonetisation, it would be interesting to see how he handles the government's increasing demand for more cash from the RBI, and letting some weak banks get out of prompt corrective action.
The central bank's move comes against the backdrop of the government efforts to crackdown on entities, that are illegally raising large amounts of money from the public.
The G-20 meeting of the Finance Ministers and central bank governors beginning July 19 will also be attended by RBI Governor D Subbarao and Deputy Governor Urjit Patel.
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India's trade deficit widened to $20.1 billion in May because of high gold imports while exports declined by over a per cent, raising concerns about economic recovery.
The Reserve Bank on Monday pitched for creation of a conducive environment for investment and faster clearances of projects to boost economic growth which slowed to a decade low of 5 per cent in the previous fiscal.
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The document said potential growth, which hovered at 8-8.5 per cent levels in the period from the second quarter of 2005-06 to the second quarter of 2008-09, has gone down to 6 per cent.
The dollar index was up by 0.43 per cent against a basket of six major currencies as euro dropped against the dollar, after quarterly economic reports from France and Germany missed expectations, said analysts.
Some accounts can be revived by rescheduling loans, which the RBI envisages to do once the norms get finalised after the public discussion.
"I would hope that the government would very respectfully request him to continue for one term or my preference would be two terms," Narayana Murthy said.
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The RBI has bought Rs 124.62 billion worth of bonds since its announcement on Aug. 20 that it would occasionally buy bonds to relieve some of the cash tightness in the banking system.
On July 15, the Reserve Bank put in place measures to restore stability in the foreign exchange market, including raising the Marginal Standing Facility and bank rates to 10.25 per cent and restricting access by way of repos to Rs 75,000 crore (Rs 750 billion).
Central banking is a science, not an art, Tamal Bandyopadhyay tells RBI Governor Shaktikanta Das.
This time the all-powerful interest-rate setting panel, whose constitution was notified by the government on Thursday, will take call on interest rate. But that's not the only change. The Reserve Bank of India has also decided to change the timing of announcement of its policy review, due next Tuesday, to mid-afternoon.
Foreign institutional investors pulled out Rs 86.66 crore (Rs 866.6 million) from local stocks on Monday, as per provisional BSE data.
Issuance of new bank licences proves that the apex bank wants the financial sector to flourish.
RBI is scheduled to announce mid-quarter review of monetary policy for 2013-14 on June 17.
RBI Governor Raghuram Rajan on Tuesday said the government will decide on extension of his tenure.
Market participants are impressed that Rajan has set the ball rolling on his first day at RBI with a series of announcements, raising expectations that more are in store.
The biggest achievement of demonetisation is that it has brought about a social revolution against black money and corruption, says Sukumar Mukhopadhyay.
"I think the Governor has been doing a great job for the country and we would certainly see it as a very positive move if he were reappointed," Naushad Forbes, president, CII.
Rajan's appointment will be perceived as a positive development.
The currency fell 3.4 per cent this week, and is below the levels at which it was trading on July 15 when the Reserve Bank of India unveiled its cash tightening steps to defend the currency.
The RBI stipulated on Thursday that foreign institutional investors would require a mandate from participatory note holders to hedge on their behalf.
The rupee is being driven into a vicious circle.
The local currency had lost 119 paise in the past five sessions on rising worries over current account gap and fears that withdrawal of US stimulus will hit inflows from overseas.
It is important to understand that debt investors are a conservative lot and, in general, most such investments are hedged out of foreign exchange risk to simply earn an arbitrage profit, rather than carry the risk to possibly increase their yield.
There was no word on whether or when Patel would be talking to the media about his priorities and plan of action as head of Mint Street
Going by precedence, the 15th presidential election scheduled to be held on July 17 this year will see a contest, notwithstanding the frenetic political confabulations for a consensus candidate.
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A weak rupee makes imports costlier, including oil and other commodities.
The G20 meeting of the finance ministers and central bank governors beginning July 19 will also be attended by Reserve Bank of India Governor D Subbarao and Deputy Governor Urjit Patel.
The judgment in the 2G case is a huge, huge, indictment of the criminal investigation and justice system, says R Jagannathan.
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