Under his leadership, RBI kept the domestic markets, to a large extent, alienated from the international meltdown to avoid liquidity or solvency cascades.
President-elect Donald Trump's warning that BRICS countries will face 100 per cent tariffs if they choose to move away from the US dollar is unclear to what extent he will carry out his threat, as it remains to be seen if the US laws permit such an action, former RBI Governor Duvvuri Subbarao said on Monday. He also said even for BRICS, there are internal differences about bringing out an alternative to the US dollar.
Sanjay Malhotra takes charge as the 26th RBI governor at a time when headline retail inflation has shot up to 6.2%.
Perhaps because the Modi government had some differences of opinion with two of the economist governors (one of whom was appointed by the Manmohan Singh government), there is a view that its political leadership prefers a civil servant to head the RBI, notes A K Bhattacharya.
Rau's felt the need to be where the action was.
The institute that once drew largely elite students also decided to expand its base and cater to a wider pool.
'The prime minister's comment on 'revdi culture' was welcome. But I am disappointed he did not follow up on that.' 'All political parties, including the BJP, have been guilty of this.' 'Now, Modi's guarantees, the Congress's 'nyay' path and both ruling and Opposition parties are vying with each other for freebies in my home state Andhra Pradesh.'
Former Reserve Bank of India Governor Duvvuri Subbarao has said the central bank could lose control over money supply and inflation management if cryptocurrency is allowed in the country. Speaking at a webinar organised by the National Stock Exchange (NSE) and New York University (NYU) Stern School of Business, Rao also said India's case for issuing a central bank digital currency (CBDC) may not be strong as there are capital controls. "Crypto is backed by algorithms and there is fear that the central bank might lose control over money supply and inflation management.
RBI Governor Subbarao also said an increase in non-performing assets at lenders was a matter of concern, but added that banks were well capitalised, during a media briefing at the conclusion of the central bank's board meeting.
US Federal Reserve Chairman Ben S Bernanke held talks with RBI Governor Duvvuri Subbarao in Mumbai.
The RBI cut interest rates on Friday by a quarter point for the third time since January.
High current account deficit is leading to the rupee weakening.
Within days of assuming charge, he faced allegations of having made RBI the finance ministry's extension counter.
Due to a spike in crude oil prices and the govt's high fiscal deficit
Identity of next central bank chief remains a matter of speculation.
It's affecting deposits, too.
Regardless of who is right, Rajan has to quickly come to grips with a number of obvious challenges, ranging from the immediate to the medium term.
India's chief economic adviser, Raghuram Rajan has been appointed as the governor of the Reserve Bank of India.
The central bank has clearly signalled the conditions under which monetary easing would take place early this quarter. And, current conditions meets the RBI's paramters
The BSE benchmark Sensex on fell by 54 points in early trade due to profit-booking after two sessions of gains amid disappointing industrial production and retail inflation data.
Is unhappy about banks' reluctance to pass on lower interest rates.
Remarks come at a time when he is under pressure from the govt to cut interest rates.
Reserve Bank on Tuesday raised key interest rates by 25 basis points, its 13th such hike since March, 2010.
Policymakers say falling rupee could lead to rise in prices of imported items such as edible oil and build up inflationary expectations in the economy.
The central bank, however, would prefer money supply in deficit mode.
RBI Governor Duvvuri Subbarao on Tuesday defended the bank's decision to keep the key policy rate unchanged saying inflation could rise to above 8 per cent in the near-term.
The drop in headline inflation to a 40-month low of 5.96 per cent for March has increased the possibility of a rate cut by the Reserve Bank at its May 3 annual policy, analysts and rating agencies said.
Declining value of the rupee, widening Current Account Deficit (CAD) and the impact of likely tapering of US bond purchases are some of the key issues which will keep Raghuram Rajan busy.
State Bank Chairman Pratip Chaudhuri's call last week for abolishing the mandatory cash reserve ratio had attracted a sharp reaction from RBI Deputy Governor K C Chakrabarty. CRR is the amount of deposits that banks park with the RBI as a prudential measure without earning interest on it.
The Reserve Bank of India (RBI) sees a need to cap the total public debt as a proportion of the gross domestic product, considering that excessive government borrowing could hamper the nation's long-term growth, its governor Duvvuri Subbarao said on Wednesday.
The 30-share Sensex closed at 19,230 mark up 283 points whereas the 50-share Nifty ended higher by 87 points at 5,699 levels.
M&M, Bajaj Auto, Tata Motors and Hero Moto and Maruti Suzuki from Auto sector surged between 1-4%.
The government and the RBI are working together to tackle the country's economic problems but there is no "magic wand" to fix them, said Raghuram Rajan, who will take over as central bank governor next month.
Central bank estimate economy to grow at 5.5 per cent.
Broader markets ended weak with mid-caps falling 0.4 per cent while small-caps declined 1.3 per cent on the BSE.
India imports 80 percent of its oil, which adds to inflationary pressure.
The bank is due to review the monetary policy on July 30.
Monetary policy committee had recommended no change in the key rate.
Interview with the Governor of Reserve Bank of India.
It rose to 5.3 per cent of GDP in the second quarter.
RBI's task was made more difficult by exchange rate volatility.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances