"The expectation is that the erratic monsoon may put pressure on inflation," RBI Deputy Governor K C Chakrabarty told reporters on the sidelines of a meeting of regional rural bank chiefs with Finance Minister Pranab Mukherjee.
A day after the storm, it was apparently business as usual for Reserve Bank of India Deputy Governor K C Chakrabarty.
Punjab National Bank CMD K C Chakrabarty has quit his post after his appointment as RBI Deputy Governor. "K C Chakrabarty has demitted office on June 14, 2009 on his appointment as Deputy Governor, Reserve Bank of India," PNB said in a filing to the Bombay Stock Exchange.
In a surprise move, Reserve Bank Deputy Governor K C Chakrabarty has resigned three months before his term was to end.
With inflation turning positive after 13 weeks, the Reserve Bank on Thursday said the wholesale price index may rise to six per cent by this fiscal end a development that may pose challenges to the central bank in maintaining a stable monetary policy.
Experts interviewed CMDs of nine public sector banks on Friday and Kamath is believed to be in the reckoning
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KC Chakrabarty who was appointed as RBI deputy governor in 2009, is considered frank with his views.
Amidst rising demand from banks that they be allowed to increase user fees and limit free ATMs, RBI Deputy Governor K C Chakrabarty said it is "ridiculous" for a bank to charge its own customers for these services.
Twenty-six entities, including the Tatas, Aditya Birla Group, Anil Ambani-led Reliance Capital and Religare, apart from India Post, applied. Videocon Group, later on withdrew its application.
After Chakrabarty's exit there will be two vacancies for deputy governors in the central bank.
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A rule change may make Nachiket Mor, among others, eligible to replace Chakrabarty.
RBI has already come out with a discussion paper on banking sector in India, on which the regulator has invited comments from stakeholders.
The Reserve Bank could consider setting up of a Fraud Registry on the lines of Credit Information Bureau to check criminal activities in the financial sector.
In spite of the high decibel financial inclusion drive being carried out for the past three years, a Crisil study has revealed stark disparities in the spread of banking services, saying the top six cities are home to an astonishing 11 per cent of bank branches.
'It is like bombing a building with 200 people to kill 5 terrorists.'
Head of state-run Indian Bank T M Bhasin had called for a CRR cut.
'RBI and the economy will gain tremendously from Urjit Patel's experience in both private and public sectors'
The government is set to carry out a performance review of companies that have opted for corporate debt restructuring (CDR).
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