A PhD from Chicago-Booth and a top-ranking IIT-IIM alumnus, Krishnamurthy Subramanian is one of the world's leading experts in banking, corporate governance and economic policy
While Raghuram Rajan's departure under these circumstances is a pity, it would be wrong to conclude that the RBI or the economy cannot do without him.
Nudging the RBI to cut interest rates to boost growth, Finance Minister Arun Jaitley on Sunday said he had already made his mind clear and hoped the central bank will take decision after taking into account various factors.
Reserve Bank of India (RBI) Governor Raghuram Rajan has set himself a target of lowering consumer inflation and is even ready to raise rates to achieve it, risking friction with the new government, if he is seen as overstepping.
Infrastructure bonds were launched by the RBI last year in a bid to help the government fulfill its plan to provide affordable housing to all by 2022
Bajaj hit out at banks for not passing the entire benefits to consumers.
Dhoot stated that Value Industries has not withdrawn the application and has only sought clarifications from RBI on certain issues.
A reading above 50 denotes expansion while one below means contraction.
With Raghuram Rajan not 'really there', the FinMin has decided to keep a watch on market developments this week with all key officials on the job.
The recovery in manufacturing is still likely to prove "protracted" given the lingering structural constraints.
To the question on what comes first, clean up or growth, Rajan said the answer is unambiguously 'Clean up!'
Based on this screening, the committee may weed out applications that do not meet the eligibility yardstick or the 'fit and proper' criteria for securing a licence.
'When there is no middle ground possible between the government and the governor, the governor has to go.'
'The Chinese devalued the yuan initially but then stopped'.
The Indian Met Department has predicted a below normal monsoon.
Rajan said expecting the government to provide all solutions wasn't right.
'Lower rates are only part of the solution and sometimes not the right solution at all.'
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The rupee resumed slightly lower at 62.05 per dollar as against the last weekend's level of 62.04 at the Interbank Foreign Exchange market. It recovered to 61.88 per dollar before quoting 61.93 at 1045 hours.
Of the 52 economists polled, 50 expect the policy repo rate to remain at 7.25 per cent, and 47 of 48 respondents see the cash reserve ratio, or the portion of deposits banks have to maintain with the central bank, unchanged at 4 per cent.
The Reserve Bank of India unexpectedly raised its policy interest rate on Tuesday by 25 basis points (bps) but said that if consumer price inflation eases as projected, it does not foresee further near-term tightening.
RBI Governor flayed easy monetary policy of central banks in advanced economies saying it is "more cause than medicine".
Rajan also said the outlook for agriculture is subdued, in view of both rabi and kharif prospects being hit by monsoon vagaries.
Over to the government how they manage the uncertainty of monsoon and revive spending in order to entice RBI for another round of rate cuts
Industrial production was seen growing 1.8 per cent from a year earlier in July, slower than June's 3.4 per cent increase, according to the median consensus in a poll of 31 economists.
Rbi cut rates for teh third time to ease economic situation.
He will be the eighth Deputy Governor to be made Governor at RBI
The status quo decision came as a breather as only last week the RBI had pulled up banks for not helping it in monetary policy transmission.
Rajan said whatever answer he gives on Modi will be 'problematic'
Given the stability of the rupee over the last 10 months, many companies have been tempted not to hedge their foreign currency risk.
The RBI is exploring ways to allow banks more flexibility in loan restructuring.
There are 350,000 jewellers, of which 13,000 are BIS-certified.
Of the eight RBI governors who have held office since the 1991 economic liberalisation, Bimal Jalan had the longest stint and S Venkitaramanan, the shortest. Current Governor Shaktikanta Das will overtake Bimal Jalan before completing his second term in December, points out Tamal Bandyopadhyay.
State Bank of India does not levy any charge for non-maintenance of a minimum balance in basic savings account.
The Indian economy recovered from the Covid-induced downturn during 2022 and is poised for further improvement in the coming quarters though downside risks emanating from geopolitical tensions, strengthening dollar and elevated inflation will continue. The positive trajectory in the growth trend and improved fundamentals will help the nation in neutralising the impact of global headwinds which are expected to have a bearing on the country's exports in the months to come. The challenges before the government and the Reserve Bank in the new year would be to arrest inflation, check declining value of rupee against US dollar and promote private investment and growth, with a view to ensure that the country remains one the fastest growing major economies of the world.
A number of industrial countries are now resorting to populism and this has its own set of political implications.
A committee headed by Patel recommended retail inflation targeting and a monetary policy committee.
Says GDP growth rate from 2014-15 to 2015-16 will be greater than that of 2014-15 from 2013-14
The appointment will be made by Prime Minister Narendra Modi in consultation with Finance Minister Arun Jaitley.
'The RBI is something like a seat belt. As a driver, the driver being the government, it has the possibility of not putting on a seat belt but of course if you do not put on your seat belt you get into an accident and the accident can be quite severe,' Raghuram Rajan told CNBC TV18. 'The aim of the board is to be Rahul Dravid -- sensible, thoughtful and not, with due respect, Navjot Sidhu,' he added.
In policy review meet in June, RBI Governor Raghuram Rajan kept interest rates intact.
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