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
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The Keynesian advice comes after Finance Minister P Chidambaram has said he considers the fiscal deficit at 4.8 per cent of gross domestic product in 2013-14 as a 'red line'.
Are we adopting an idea whose time has come and gone? My feeling is, yes, says ex-banker C Joseph Chacko in the fourth article of the series on inflation targeting.
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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.
Never one to mince words, Rajan will walk away with a mixed legacy
Rajan said that while there were talks about Jan Dhan, it was difficult to target transfers to people through this tool. Jan Dhan, he said, does not really work as advertised.
The finance ministry is working on a Cabinet note for establishing a full-fledged Public Debt Management Office, officials told Business Standard.
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Policymakers stepped in late Thursday to calm markets.
T C A Srinivasa-Raghavan recalls a tussle between the government and RBI when Rajiv Gandhi was prime minister and how it was resolved.
Reddy has worked to reform the economy.
Thanks to Rajan we are an inflation-targeting country now
Hawkish tone likely to guard rupee from further slide
Raghuram Rajan remains focused on a long-term inflation target of 4 percent.
The principal challenge for Rajan's successor is to work with the Bank Board Bureau and the finance ministry to complete these processes of banking reform.
Experts point to the bitter experience of countries including Mexico, Thailand, South Korea and Russia and desist from going forward with plans of issuance of such securities. They say rather than going abroad, the country should increase participation of foreign investor in the government securities which does not have any forex risk.
Policymakers have been grappling with high prices for food staples such as onions and potatoes even after the central bank raised interest rates by a quarter percentage point in each of its previous two reviews.
The RBI expects inflation in 2015 to hover around 6 per cent -- its target for January 2016 -- and sees risks to the target evenly balanced.
Kolkata's creme de la creme turned up at the launch of Bandhan, The Making of a Bank, but the evening nevertheless had an informal touch typical of the young bank with CMD Chandra Shekhar Ghosh personally welcoming the dignitaries, reports Indrani Roy/Rediff.com.
Bukkapuram Nadella Yugandhar's 'formidable legacy will survive through a generation of civil servants whom he trained, nurtured, mentored and inspired with a rare combination of energy, enthusiasm and passion,' says former RBI govenor Dr Duvvuri Subbarao.
Rajan tells RBI colleagues he will be returning to academics
The rupee is likely to strengthen to 60-61 level by this fiscal-end on expectations of improvement in current account deficit (CAD) and higher inflows from overseas investors.
The 30-share Sensex ended down 90 points at 19,429 after hitting an intra-day low of 19,398 and the 50-share Nifty ended down 40 points at 5,881 after touching an intra-day low of 5,871.
He endorsed transparency and financial stability in addition to issues related to inclusive growth and development, write Puran Singh and Nupur Pavan Bang.
Manmohan Singh, reveals the former President, was keen that either P Chidambaram or Montek Singh Ahluwalia be the finance minister.
Reducing policy rates is not enough. The key is to ensure banks lend to credit-constrained borrowers.
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.
I-T lens on current account deposits over Rs 12.5 lakh. All the news and more post demonetisation.
We are all 'Chasing the Monsoon', notes Ajit Balakishnan.
What Shekhar Gupta would have really liked to know from Pranabda: Why did Sonia prefer Dr Singh to him as PM? Why did he deny finance first, why did he accept it 5 years later, and why did he make such a mess of it? How did he force Sonia to nominate him for President and not Hamid Ansari? And how does he justify that most toxic legacy -- the Vodafone tax amendment?
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