Dr Rohini Acharya -- the Rashtriya Janata Dal candidate from the Saran Lok Sabha constituency -- filed her nomination papers for the Lok Sabha elections, April 29, 2024, accompanied by her father and RJD supremo Lalu Prasad Yadav, mother Rabri Devi and younger brother Tejashwi Yadav.
'We get to know secrets such as some of India's top-rated firms do not always make payments when due and many State-owned, listed, enterprises that borrow in bond markets default regularly.' 'Without naming the bank, he says that ever-greening of poor loans by a part of India's shadow banking lay at the doorstep of India's banking, notably 'one private bank'.' Viral Acharya's Quest for Restoring Financial Stability in India won't be music to many ears, observes Tamal Bandyopadhyay.
The first five months of 2023 have witnessed at least six major events/trends that augur badly for global economic and socio-political prospects, points out Shankar Acharya, former chief economic adviser to the Government of India.
Governments that did not respect the central bank's independence would sooner or later incur the wrath of financial markets, ignite economic fire, and come to rue the day they undermined the regulatory institution, Deputy Governor Viral Acharya warned.
'Tilting at the Government in English in front of India may make him feel like Joan of Arc, but without a feel for Bharat he will merely be Don Quixote,' says S Muraleedharan, former managing director, BNP Paribas.
'Trust your new governor,' Omkar Goswami advises RBI Deputy Governor Viral Acharya. 'Just because he is from the IAS and doesn't carry a PhD from a US university does not make him unsuitable for the task.' 'If anything, Das will pour oil on troubled waters, and save the RBI's reputation.'
Economic Affairs Secretary Subhash Garg is the finance ministry's primary liaison with the RBI.
Today, with growth having slowed and macro-economic challenges in every direction, would the government have benefited from the advice of 'Harvard' economists? asks T N Ninan.
Reserve Bank of India Deputy Governor Viral Acharya is the eighth economist to quit since the Modi government took office.
Does the Union government or the RBI see itself as Krishna beheading Shishupal and what will constitute the 101st or indeed the past many sins for which a Sudarshan Chakra will have to be used? More importantly, what are those sins?
'The finance minister has messed up the economy.'
The blasts outside the Chinnaswamy stadium in Bengaluru on April 17 was carried out by a terrorist organisation at the behest of the betting lobby, Karnataka Home Minister Dr V S Acharya told rediff.com on Tuesday.
In an interview with rediff.com's Vicky Nanjappa, Karnataka Home Minister Dr V S Acharya claims that the BJP government acted swiftly and firmly against the culprits involved in the Mangalore attack.
Although this may not be music to Raghuram Rajan and Viral Acharya's ears, the real reason in my estimation for their quitting is expatriate over-sensitivity, intolerance or arrogance, argues B S Raghavan, the distinguished civil servant.
Given the pressure from India Inc and the banking fraternity, it is surmised that the portfolio rejig will take place before April.
'There are deeper, underlying, forces at work and we need institutional arrangements to guard against them.'
'Those who come from outside are surprised at the relatively small strength of the RBI supervisory cadre, relative to the needs of the country and the needs of the financial sector.'
'His (Das) approach to work seems that of working as a team with ease in communication.'
'But the world would be much poorer without economics' contribution to understanding how societies function and without economists' suggestions as to how politicians might improve them. 'And economists themselves could do wonders by simply incorporating the country-specific factors in their econometric models rather than just applying them in toto," say Soumya Kanti Ghosh and Samir K Jha.
'Without appropriate supervisory constraints in place, banks are in a position to delay the recognition of losses and engage in ever-greening or zombie lending, which is essentially the rolling over of debts of unviable borrowers that would have otherwise defaulted,' points out RBI Deputy Governor Viral Acharya.
'Only the coming years will tell whether the government finds this an easy way of relieving itself from its fiscal constraints.'
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