There's no point in having a brilliant RBI governor if politicians do not listen to him.
After Raghuram Rajan leaves, the world for the succeeding RBI governors will be distinctly different.
Indian stock market benchmarks, Sensex and Nifty, saw gains in early trading, driven by anticipation surrounding the Reserve Bank of India's monetary policy decision, despite mixed global cues and significant FII outflows.
Rediff.com did a word cloud analysis of the governor's speech.
Although the rupee has recovered after Thursday's announcement by Subbarao on the possibility of selling dollars directly to oil companies, it had fallen to 56.07 to a dollar in the morning trade, after Thursday's close of 55.65.
The increasing use of models, algorithms, and code across the financial industry is reshaping how outcomes are generated. However, their limitations, such as explainability, embedded bias, and model drift may not be immediately apparent and may emerge only as these technologies gain scale, warns RBI deputy governor Shirish Chandra Murmu.
The government has extended the term of Reserve Bank of India Governor Shaktikanta Das by another three years upto December 2024, according to an official order.
Will Arundhati Bhattacharya be the RBI's first woman governor? Or will Urjit Patel succeed Raghuram Rajanas RBI governor when his term ends on September 4?
Most members of the Reserve Bank of India's Monetary Policy Committee (MPC) expressed concerns about inflation becoming generalised and highlighted uncertainties surrounding both inflation and growth prospects due to the West Asia conflict, according to the recently released minutes.
Scenes from polling stations in Mumbai which voted in the Lok Sabha election on Monday, May 20, 2024.
The primary objective of introduction of polymer notes was to increase its life and not to combat counterfeiting.
Ending months of suspense, Prime Minister Manmohan Singh on Tuesday gave a two-year extension to RBI Governor D Subbarao beyond September.
Raghuram Rajan will take over as RBI Governor on September 4 at a time when the country is facing a grave economic crisis.
Raghuram Rajan has appointed him as head of several committees soon after taking charge.
While the economy seems to be on a firm growth path, the fight against inflation is not over yet. Shaktikanta Das seems to be in no hurry. After playing well through a five-year Test match, he doesn't want to get out hit wicket, observes Tamal Bandyopadhyay.
Microsoft co-founder Bill Gates on Tuesday met Reserve Bank of India Governor Shaktikanta Das and discussed various issues including financial inclusion, payment systems, microfinance and digital lending among others. "Mr.@BillGates visited RBI Mumbai today and held wide ranging discussions with Governor @DasShaktikanta #RBI #rbitoday #rbigovernor #shaktikantadas #BillGates," RBI said in a tweet. Gates Foundation pursues a lot of activity in India including promotion of financial inclusion, health sector and climate change.
Reserve Bank of India Deputy Governor Rohit Jain has stated that India cannot rely solely on bank balance sheets to fund the extensive investment required for its 'Viksit Bharat' (developed India) goal by 2047, emphasising the critical need for deeper corporate bond, foreign exchange, and derivatives markets.
The Reserve Bank on Wednesday said it plans to issue new bank licences around January, "consistent with the highest standards of transparency and diligence."
The challenge for India lies in navigating complex landscape to its best advantage. The BRICS Summit will test its navigation skills, asserts former foreign secretary Shyam Saran.
Most central banks across the world have around 5-7 years of tenure for the governor and deputy governors.
Former RBI governor admits to being a 'greenhorn' as he started his stint at the central bank.
With RBI governor Duvvuri Subbarao retiring in September, 2013, the government is on the look out for the most eligible person to head the Reserve Bank of India.
RBI has cited at least 10 areas where it has no control over PSBs.
The Indian government has extended the Reserve Bank of India's (RBI) mandate to maintain retail inflation at 4 per cent, with a tolerance band of 2 per cent on either side, for another five years until March 2031.
It's unfair to over-emphasise Urjit Patel's shy and reticent image.
After a 25 basis point rate cut in December, the RBI on Friday decided to pause on the policy rate front amid geopolitical uncertainties.
Raghuram Rajan, whose current three-year tenure ends on September 4, has already said no to a second term.
The friction with the political class is not only about interest rates and monetary policy. While the government often spoke freely about its discomfiture, the RBI had to be careful even in its response to the government as any loose statement would affect the markets.
MNS president Raj Thackeray questions the fuel consumption during recent election campaigns, asking if austerity measures are only meant for the common people.
The criticism of the RBI governor's handling of inflation is fraught with an oversimplification of the current inflation dynamics.
'Wages have not risen. Rural wages have stagnated. The growth was 0.7 per cent last year. For casual and irregular labour, the wage growth is negative.'
The Reserve Bank of India (RBI) has introduced stricter timelines for banks to process inward cross-border remittances, aiming to reduce delays in crediting funds to beneficiaries by mandating immediate customer intimation and more frequent nostro account reconciliation.
Infosys co-founder Nandan Nilekani predicts that large corporations in India will lose jobs due to automation and AI, while millions of small businesses will drive future employment growth. He advocates for deregulation, simplified business interfaces, and digital platforms to support small entrepreneurs and a gig economy workforce.
Interview with former Reserve Bank of India governor by Duvvuri Subbarao.
Panagariya, who heads the government's main economic advisory body NITI Aayog, is also India's Group of 20 summit negotiator
The RBI seems to be acknowledging that all deposits are not equal -- a deposit with a lower run-off assumption is inherently more valuable than one that could disappear overnight, points out Tamal Bandyopadhyay.
Vegetable rates may ease from September, led by tomato prices, which have started showing signs of correction on the back of increased supply, Reserve Bank of India (RBI) Governor Shaktikanta Das said on Wednesday. "Looking ahead, the spike in vegetable prices in July is starting to see a correction, led by tomato prices. "New arrivals of tomatoes in mandis are already softening the prices, coupled with proactive supply management in the case of onions.
'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.'
Indian stock market indices closed on a mixed note, with the Sensex gaining 374 points driven by buying in Reliance Industries and ICICI Bank, while the Nifty remained flat. This divergence is attributed to a new Closing Auction Session (CAS) mechanism introduced by stock exchanges, impacting market liquidity and price discovery.
Balance is needed in selecting members for the proposed monetary policy committee, says Abheek Barua.
