RBI adds $5 bn to forex kitty since mid-March; rupee breaches 60-a-dollar mark but analysts say central bank will cap further gains
It is unlikely that the RBI will drop rates until the inflation rate drops below five per cent.
The Reserve Bank has reduced interest rate by 150 bps since January 2015.
In January 2003, the American Finance Association awarded Rajan the inaugural Fischer Black Prize for the best finance researcher under the age of 40.
Dr Rajan is a person of very high caliber
Raghuram Rajan says he's not beholden to the Finance Ministry nor does he go around with the fear of being fired.
The RBI is expected to issue only a few bank licences after completing due diligence.
The EC is yet to decide on RBI's request to grant new licences during the election season.
On Aug 11, the Chinese central bank surprised markets by devaluing the yuan by nearly 2 per cent.
Reliance Industries' refining earnings will remain steady, supported by its position as India's largest importer of Russian crude and favourable global supplies, according to analysts at JM Financial and Goldman Sachs. Reliance imported more Russian barrels than any other Indian refiner in the past eight months, according to data from Bloomberg/Kpler.
Traditionally, Prime Minister picks the RBI Governor after consultation with the finance minister.
RBI governor Raghuram Rajan says a cut in cash reserve ration will not at all impact lending rates.
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The Reserve Bank released a report on 'Banking Structure in India -- The Way Forward' in August 2013, which covered issues such as consolidation of large-sized banks with a view to have a few global-sized banks and the desirability and practicality of having small, localised banks as preferred vehicles for financial inclusion.
Reserve Bank of India Governor Raghuram Rajan said, in an election year, it is better to be ready for any eventuality.
Individuals will have to wait for some more time; RBI may do away with mid-quarter policy reviews.
The new Guv needs to focus on structural inflation problems.
Rajan was expected to join the search committee to appoint three external members of a new six-member RBI Monetary Policy Committee
Rajan also reiterated his view on the growth rate being inextricably linked with curbing inflation.
The current account deficit, which is the difference between inflow and outflow of foreign exchange, rose to a record high of 4.8 per cent of GDP in 2012-13, from 2.8 per cent in 2010-11.
The Reserve Bank of India (RBI) is likely to keep monetary policy steady in June despite sluggish economic activity as inflation remains elevated, a Reuters poll showed on Wednesday.
Reserve Bank Governor Raghuram Rajan on Friday said banking sector will see major changes in the coming years.
India needs foreign exchange buffer reserves to insulate itself from exchange rate volatility as we have "no friends" for swap lines and Japan was the only country that helped during the taper tantrum in 2013, former RBI Governor Raghuram Rajan said on Tuesday. Participating in a virtual event organised by economic think tank NCAER, Rajan said during the taper tantrum in 2013, India asked for swap lines, and only country who helped was Japan. "We need this (foreign exchange) reserve buffer to insulate ourselves because we have no friends.
Everything seems to be falling in place for the new RBI governor but there is a need to prepare for the imminent tapering by the Fed.
Raghuram Rajan's signal of a neutral stance is at odds with concerns about inflation and markets' revised expectation of more increases in the repo rate
The RBI targets inflation at 6 percent by January 2016 and 4 percent for 2017/18.
Rajan, further said, the government was not contemplating more steps to curb gold import, and significant reduction was likely in June.
He doesn't expect banks to raise interest rates, as they'd not reduced these after the policy rate cuts in May and March.
Undaunted by what non-ideal mortals call pragmatic reality, he rolled up his sleeves on his first day in office and rolled out a series of measures that turned sentiment, as if on a dime.
A panel headed by Reserve Bank of India deputy governor Urjit Patel recommended in January moving to an inflation target.
India's macroeconomic indicators are improving and inflation has been coming down consistent with the central bank's forecast, but Asia's third-largest economy needs investment growth to pick up, he added.
This was the near-unanimous replies of 10 market participants.
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The central bank will come out with two measures on restructuring to tackle financial stress, Rajan said.
Business houses expect rate cut in next RBI policy.
Former Banque de France head Jacques de Larosire was given the Lifetime Achievement Award for his lengthy struggle for monetary order, the magazine said in a statement on Monday.
The rank of COO is the latest in a series of decisions that met with internal resistance at Mint Road and now North Block.
RBI governor highlights the role of fate in his career at a meeting of the IIM-A alumni.
'There will be no serious effect on Indian economy because one person, one man, however powerful, however influential, however great, cannot have an impact on an economy as big and complex as India.'
Rajan said an interest rate cut won't by itself lead to higher economic growth
The rupee's travails allow the RBI's incoming governor to renegotiate the objectives of monetary policy.
Traditionally, food prices have been seasonal in nature.
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