'RBI and the economy will gain tremendously from Urjit Patel's experience in both private and public sectors'
What differentiates Rajan from his predecessors is his proactive steps in anticipating a problem and coming up with out-of-the-box solutions
Former Reserve Bank of India (RBI) Governor Raghuram Rajan says the government should take advantage of the peaks in the Indian equity markets right now and sell stakes in PSUs while prioritising spending to get the economy back on track. The upcoming Budget for the fiscal year beginning April 1 should look to provide "relief to the poorer households and small and medium enterprises," he said. And then move on to getting the economy back on track.
'India's biggest loss is that we will not have anyone as principled and as courageous as Rajan.'
'That way you're not hostage just to US sort of exports to India.'
Rajan's appointment will be perceived as a positive development.
Raghuram Rajan's 'surgery' uncovers more bad loans
He endorsed transparency and financial stability in addition to issues related to inclusive growth and development, write Puran Singh and Nupur Pavan Bang.
Even before Prime Minister Narendra Modi swept to power in 2014, Subramanian Swamy was agitating for Rajan's removal.
If Mr Rajan's citizenship is considered relevant for heading an organisation that issues sovereign currency, should the provenance of a participant in a critical function of a sovereign democracy not count as well?
Will seek to bring inflation to the mid-point: Rajan
'It's important for India to think about areas where it wants the US to move.' 'We can be far more innovative in what we ask the US.' 'Given that there's a package deal, why not do it?'
RBI governor Raghuram Rajan has slashed rated by 50 bps.
Rajan, who has also served as chief economist at the International Monetary Fund (IMF), said he had no idea what statistics are pointing at currently and "a revamp" was needed "to really figure out what India's true growth rate is".
Jaitley has made it a habit of giving soundbytes to the media like his predecessors on why RBI should cut interest rates
Rajan said that while there were talks about Jan Dhan, it was difficult to target transfers to people through this tool. Jan Dhan, he said, does not really work as advertised.
Taking bank lottery scam to a new level, scamsters are using the name and picture of RBI chief Raghuram Rajan to lure gullible people into making a cash deposit of Rs 15,500 to get a winning amount of Rs 5.50 crore.
Reserve Bank of India (RBI) Governor Raghuram Rajan spoke on a host of issues at his last post-policy interaction with the media
The taxpayers and honest borrowers suffer when a big entity defaults.
'We are by no means anywhere nearing having external financing difficulties or internal financing difficulties. The government's credit is solid, there is absolutely no difficulty for the government in borrowing and it is borrowing effectively from the public today in a fairly free public debt market,' the RBI governor tells a meeting in Washington, DC
We need a change in mindset, says the RBI Governor.
'Government of India has the right to give directions to RBI'.
Because of Rajan's policies, the banking system has mustered enough courage to disclose their toxic assets
Reserve Bank Governor Shaktikanta Das on Tuesday said the fiscal-monetary coordination was at its best during the last six years even as he thanked Prime Minister Narendra Modi for giving the opportunity to head the monetary authority of the country. Das, in a series of posts on X, on his last day of his six-year term as RBI Governor, also thanked the Finance Minister, various stakeholders and his colleagues at the central bank.
Six out of eight monetary policies announced by him during his entire tenure so far have been on Tuesdays
Shaktikanta Das will demit the office on Tuesday after completing six years as the 25th Governor of the Reserve Bank of India. Revenue Secretary Sanjay Malhotra will replace him as the 26th Governor. He was appointed as the Governor on December 12, 2018, after the abrupt exit of Urjit Patel.
'The RBI risks becoming dangerously weakened, as successive governments and finance ministers have misunderstood its role'.
Former Prime Minister Manmohan Singh's 1991 budget unshackled India's economy, significantly enhancing the economic prospects for hundreds of millions of Indians, first deputy managing director of the International Monetary Fund (IMF) Gita Gopinath said on Friday.
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.
The immediate priority for the new governor will be to draft the mid-quarter review
Earlier, finance ministry officials had said sovereign bonds could address the financing problems of the CAD and the infrastructure sector.
'The critical event signalling a new era for India was Dr Singh's 1991 Budget in which he quoted Victor Hugo to say that no power on earth could stop an idea whose time has come,' recalls T N Ninan.
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.
RBI adds $5 bn to forex kitty since mid-March; rupee breaches 60-a-dollar mark but analysts say central bank will cap further gains
The appointment of Rajan, a former chief economist of the International Monetary Fund and now a professor of finance at University of Chicago, comes at a time when India, like most of the world economies, is grappling with the impact of the global credit crisis.
Rajan, who will be a key member of Finance Minister P Chidambaram's team, was also honorary economic adviser to Prime Minister Manmohan Singh.
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.
