Of the eight RBI governors who have held office since the 1991 economic liberalisation, Bimal Jalan had the longest stint and S Venkitaramanan, the shortest. Current Governor Shaktikanta Das will overtake Bimal Jalan before completing his second term in December, points out Tamal Bandyopadhyay.
While the quality of regulation and governance is a key factor to rebuild business confidence in India, the deficiencies in these areas are even more alarming than the inadequacies of the country's physical infrastructure, Raghuram G Rajan, well-known for his critique on the American economic and financial crisis, said on Saturday.
Only time will tell whether an individual like Rajan would be able to influence the manner in which the Fund looks at the rest of the world, especially developing countries.\n\n
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.
The new Guv needs to focus on structural inflation problems.
Former RBI governor Raghuram Rajan on Tuesday said it is too premature to think that India will replace China when it comes to influencing global economic growth. However, the situation may change going forward as India is already the world's fifth largest economy, it is growing and has the potential to keep expanding. At a World Economic Forum (WEF) press briefing on the recently released Chief Economists Outlook that saw majority of them expecting a global recession in 2023, Rajan said any recovery in the Chinese economy would definitely boost the global growth prospects.
'The government should act proactively to instil confidence in the private investors, and also boost the purchasing power of people directly or indirectly by ensuring minimum wages.'
The rupee's travails allow the RBI's incoming governor to renegotiate the objectives of monetary policy.
'Das is friendly, but he finally does what he does. The quality of engagement is very good.'
Raghuram Rajan said government would do everything to maintain stable and sustainable financing of CAD.
Given that the public is no longer willing to tolerate lack of transparency, politicians will see they have no alternative but to change, feels Raghuram Rajan, economic advisor to the prime minister. Interestingly, Professor Rajan made this hard-hitting speech at an event to release a book in Prime Minister Manmohan Singh's honour.
NDA seems to have been seduced by the rise in the stock market and the adulation showered at organised Indian diaspora events, former FM said.
If they are made accountable, bad loan cases will shrink dramatically, recoveries will rise, and the NCLT process will be more manageable, asserts Debashis Basu.
Events proved that on every count the RBI had accurately predicted both the damage and the lack of benefit. What the RBI was hiding was the fact that Modi had ignored its concerns -- all of which turned out to be true -- and gone ahead anyway, asserts Aakar Patel.
'80% of the rural and urban population don't have enough purchasing power.'
Former RBI governor Raghuram Rajan has asked why SEBI has not yet got to the bottom of ownership of the four Mauritius-based funds who are said to have parked 90 per cent of their $6.9 billion in Adani group stocks, saying does the market regulator need help of investigating agencies for this? The funds -- Elara India Opportunities Fund, Cresta Fund, Albula Investment Fund and APMS Investment Fund -- have been under cloud for last couple of years after allegations that they may be shell companies. They came into focus once again in January when a US short seller alleged that Adani Group used offshore shell companies to inflate stock price.
India's inclusion in JP Morgan's bond index can channel billions of dollars into India. How will the government securities market handle it?
Haven't they heard about the 'Tale of Two Brothers'? asks Suveen Sinha.
The World Bank has appointed Indermit Gill, an Indian national, chief economist and senior vice-president for development economics at the multilateral development bank. "Indermit Gill brings to this role a combination of leadership, invaluable expertise and practical experience working with country governments on macroeconomic imbalances, growth, poverty, institutions, conflict, and climate change," World Bank President David Malpass said in a statement. His appointment will be effective September 1, 2022.
The party is very much united and working together, the AICC general secretary organisation said.
Indian economy grew at 7.9 per cent in fourth quarter of 2015-16.
Traditionally, Prime Minister picks the RBI Governor after consultation with the finance minister.
Reserve Bank of India Governor Raghuram Rajan said, in an election year, it is better to be ready for any eventuality.
Haasan, addressing office bearers in Chennai, said he has been invited by Rahul Gandhi to participate in the Yatra.
The Congress party has tweeted a 1.44-minute clip from the conversation which will be aired in full at 9 am Tuesday.
Rediff.com takes its readers through the various moods of Raghuram Rajan.
Meanwhile, Wholesale Prices Inflation (WPI) numbers which were announced on Thursday, accelerated to an eight-month high of 7.0% in October.
The Reserve Bank has reduced interest rate by 150 bps since January 2015.
Raghuram Rajan panel report has made a case for ending the 'special category' criteria.
Calling Rajan "no less patriotic", he virtually ticked off Swamy saying "if anybody considers himself above the system then it is wrong".
Raghuram Rajan, Governor of the Reserve Bank of India, has scoffed at the contention that BJP's Prime Ministerial nominee, Gujarat Chief Minister Narendra Modi will be the knight in shining armour who will root out corruption in India.
Hinting that the Centre might provide special status to Bihar, Finance Minister P Chidambaram on Saturday declared to set up a committee to determine the new criteria for backwardness.
Raghuram Rajan says he's not beholden to the Finance Ministry nor does he go around with the fear of being fired.
The Indian economy recovered from the Covid-induced downturn during 2022 and is poised for further improvement in the coming quarters though downside risks emanating from geopolitical tensions, strengthening dollar and elevated inflation will continue. The positive trajectory in the growth trend and improved fundamentals will help the nation in neutralising the impact of global headwinds which are expected to have a bearing on the country's exports in the months to come. The challenges before the government and the Reserve Bank in the new year would be to arrest inflation, check declining value of rupee against US dollar and promote private investment and growth, with a view to ensure that the country remains one the fastest growing major economies of the world.
After the e-mail was received, the RBI officials alerted the police.
His tweets led to his followers proclaiming that he was backing Patel's appointment
The government has retained Arvind Subramanian as its chief economic advisor, unlike other American professors Dr Raghuram Rajan and Arvind Panagariya, who quit their jobs as RBI governor and NITI deputy chairman respectively.
Dr Rajan is a person of very high caliber
Union Minister Nirmala Sitharaman was on Monday critical of RBI Governor Raghuram Rajan's description of Indian economy as the "one-eyed king in the land of the blind", saying better words should have been used.
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