Nationalisation has served its purpose. It's time to move ahead, keeping majority ownership of the government in a few banks to serve the people, argues Tamal Bandyopadhyay.
RBI Governor Raghuram Rajan on Tuesday said the government will decide on extension of his tenure.
The meeting, which comes just days before the next bi-monthly monetary policy review on June 3, lasted for about 50 minutes.
Centre to take a call only in August, just a month before his three-year term ends.
Raghuram Rajan on February 2 left the key interest rate unchanged.
In the mid-quarter review on December 18, the Reserve Bank left key policy rates unchanged but said it will hike interest rates if inflation does not subside.
Bharatiya Janata Party leader Subramanian Swamy on Sunday once again attacked Raghuram Rajan on the monetary policy, over a month after Prime Minister Narendra Modi had disapproved of his criticism of the Reserve Bank of India chief.
For now, the BJP's strategy for Khushbu seems to be one of denial -- denying the rival Congress in the state and also at the national-level a Muslim voice acceptable to Hindu audiences and TV news-watchers. This is much less than the induction of DMK veterans like Duraiswamy and Selvam, who still have a greater chances of winning assembly seats,, says N Sathiya Moorthy.
The RBI governor most famous oneliners -- 'I am Raghuram Rajan and I do what I do' -- that eventually summed up the year 2015 for the central bank
'I think the markets will move up given that there will be more money.'
IT exporters were the top gainers amid a weak rupee along with select index heavyweights.
Calling RBI Governor Raghuram Rajan's exit a 'bad omen' for the Indian economy, eminent economists and former policymakers on Sunday said it will be seen by the world as India's non-approval to a policy against inflation and bad loans.
A day after the Reserve Bank of India's monetary policy review, the RBI Governor talked to journalists on related issues.
Rajan also reiterated his view on the growth rate being inextricably linked with curbing inflation.
RBI promises to take all necessary steps, including liquidity support
Tension between the government, specially the finance ministry, and RBI is as old as the central bank itself.
The fake handle was opened in June this year but was not used to tweet anything before August 20.
Upside risks to inflation persist from higher growth and expansive govt spending.
Bank of India has become the first state-run lender to allow withdrawal of funds to individuals from its ATMs without an account in the bank.
RBI Governor Raghuram Rajan on February 2, left the key interest rate unchanged citing inflation.
'Ultimately, people will revolt at one time or the other.' 'You cannot feed the public with cultural issues forever.'
Jaitley slams Rajan for MSME banking crisis statement, says postmortem is easier than action
'Since the NDA took office in 2014, and aggressively since 2019, the Union government seems hell bent on centralising all power and resources, only to fail spectacularly.'
Rajan said the relationship between the RBI and the government has been strong.
Providing access to unbanked areas in the country has been high on the agenda of RBI, as almost 40 per cent of the population doesn't have a bank account.
Rajan was speaking at a news conference.
Raghuram Rajan's decision to go back to academics might spell short term negativity for the stock, currency and bond markets.
Raghuram Rajan - the new Reserve Bank of India (RBI) governor - has announced a slew of measures to attract capital flows in the country to provide support to the rupee which has depreciated around 22% in the current financial year.
The Centre's fiscal consolidation resolve led to the cut in banks' mandatory SLR for the second time in a row, RBI Governor Raghuram Rajan said on Tuesday, hinting at more such liquidity enhancing steps in tandem with the government's action on fiscal deficit.
The RBI Governor also reiterated his reservation against repeated loan waivers by various state governments, saying the move distorts credit pricing, thereby also disrupting the credit market.
The country has come a long way in the process of financial inclusion, Raghuram Rajan said, but "still has a way to go".
Raghuram Rajan is said to have informally written to select policymakers and experts, to curb 'unnecessary' speculation over his future at RBI.
In an interaction with former Congress chief Rahul Gandhi on the impact of lockdown on India's economy, Rajiv Bajaj, MD, Bajaj Auto, said India tried to implement a hard lockdown which was still porous and ended up with the worst of both worlds.
Raghuram Rajan, whose current three-year tenure ends on September 4, has already said no to a second term.
RBI Governor Raghuram Rajan said that consolidated fiscal deficit of the Centre and states rose to 7.2 per cent in 2015 from 7 per cent in the previous year.
Reiterating his earlier stance, BJP's Rajya Sabha member Subramanian Swamy has written a letter to Prime Minister Narendra Modi, asking him to sack RBI Governor Raghuram Rajan.
It was this day, March 6, in 1971 that Sunil Manohar Gavaskar made his debut in Test cricket.
The rank of COO is the latest in a series of decisions that met with internal resistance at Mint Road and now North Block.
He also made it clear that the pre-2005 notes will continue to be legal tender.
By March 28, the reserves rose by a whopping $5.038 billion to $303.673 billion, the second highest in the fiscal.
