The areas for improvement include greater de jure independence of regulatory agencies, consolidated supervision of financial conglomerates and reductions in the large exposures and related-party lending limits in banks.
Raghuram Rajan, a former chief economist at the International Monetary Fund, takes charge at the RBI as the country faces its worst economic crunch since a balance of payments crisis two decades ago.
Raghuram Rajan becomes the 23rd governor of Reserve Bank of India.
India should give greater priority to markets and trade liberalisation than to capital market liberalisation, a top official of the International Monetary Fund has said.
Industrial countries cannot at this point wash their hands off developing economises and say we will do what we need to, and you do the adjustment you need to, says RBI Governor.
IMF has sharply cut its forecast for world growth this year.
The agreement is subject to approval by the IMF management and consideration by its executive board, which is expected in early April.
The marginal decline in reserves was on account of fall in foreign currency assets
Raghuram Rajan says he's not beholden to the Finance Ministry nor does he go around with the fear of being fired.
India's chief economic adviser, Raghuram Rajan has been appointed as the governor of the Reserve Bank of India.
A rapidly deteriorating balance of payments may warrant that but the political climate is too risky
The FATF warned Pakistan that if it doesn't complete a full action plan by June, it could lead to consequences on its businesses
India will soon allow corporate houses to open banks despite misgivings within the RBI.
India lags behind 132 countries in per capita income.
"Now is the time for countries with room in their budgets to deploy -- or get ready to deploy -- fiscal firepower. In fact, low interest rates may give some policymakers additional money to spend," new IMF chief Kristalina Georgieva said.
'The numbers are null and void now. Look, we can give out projections now, but we know that a week later those numbers will also be irrelevant. So we need to wait,' a top government official said.
Such an economic environment tends to be positive for gold, the ultimate safe-haven asset. Since gold cannot be debased by central banks, it naturally gains in value.
On global imbalances, Lagarde noted that IMF is assessing external imbalances and misalignments through its new External Sector Report.
Take the rediff business quiz and see how much you know about India and its association with the International Monetary Fund.
For the week under review, Special Drawing Rights fell by $ 13 million to $4.19 billion, while India's reserve position with the International Monetary Fund was down $3.5 million to $1.14 billion.
Christine Lagarde recently gave a speech in which she outlined steps needed to avoid future global crisis.
Describing it as 'a very powerful order' Trump told reporters during his daily news briefing at the White House on Wednesday that he signed the order to protect American workers' jobs in an economy pummelled by the COVID-19 pandemic.
The IMF's Financial System Stability Assessment Update said India had improved its supervision and regulations in the 20 years since it started liberalising its economy and that its financial system fared well in the global financial crisis.
RBI Governor Shaktikanta Das and Finance Secretary Subhash Chandra Garg are also expected to attend the meetings.
The reserves had touched an all-time high of $367.16 billion previously
Softening inflation, Das said would make available more policy space to the central bank to address risks to the growth going forward.
The downgraded World Bank forecast follows a similar move by the International Monetary Fund, which cut its growth forecasts two months ago
Fitch Ratings director Thomas Rookmaaker said India's debt-to-GDP ratio is likely to rise to 76 per cent from 70 per cent currently due to wider fiscal deficit and low economic growth.
Prime Minister Narendra Modi is in Hamburg, Germany for the G20 summit and it seems that NaMo is on a spree -- of handshakes that is. From China's Xi Jinping to Canada's Justin Trudeau, the PM has met them all and it appears he's having a really good time.
The year 2020 could see the worst global economic fallout since the Great Depression in the 1930s, with over 170 countries likely to experience negative per capita income growth due to the raging coronavirus pandemic, IMF Managing Director Kristalina Georgieva said on Thursday. Georgieva made the remarks during her address on 'Confronting the Crisis: Priorities for the Global Economy' in Washington, DC, ahead of next week's annual spring meeting of the International Monetary Fund and the World Bank.
Revising its economic outlook, International Monetary Fund (IMF) today marginally brought down India's growth rate projections to 5.6 per cent for this fiscal and 6.3 per cent for the next financial year.
Rajan said he believes that capitalism is breaking down because it is not providing equal opportunities.
Indian central bank may soon edge out its counterpart in the Netherlands from the top-10 list, as latter's holding has largely remained unchanged.
The International Monetary Fund (IMF) has cut down its 2013 forecast for global economic growth to 3.9 per cent from the 4.1 per cent, trimming projections for most advanced and emerging economies.
Venu Rajamony, a career diplomat, has been appointed as press secretary to President Pranab Mukherjee.
Venu Rajamony, a career diplomat, has been appointed as press secretary to President Pranab Mukherjee.
International Monetary Fund has said more remains to be done to put the US public finances back on sustainable path.
The gold reserves remained unchanged at $18.151 billion.
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