D Subbarao

  • Raghuram Rajan: RBI's new face is also its hottest September 17, 2013

    New Delhi: 'Y is every1 going ga ga abt RBI gov Raghuram Rajan? Me thinks he looks a bit wily! N I mean it in a sweeeet nice way! Wink wink :)' reads a post which was put up on Twitter today. The fact that people continue to take to...
  • RBI governor Raghuram Rajan's new proposals September 4, 2013

    Reserve Bank of India Governor, Raghuram Rajan, on Wednesday announced a slew of proposals in his first day of office. Below are some highlights of the proposed action. Monetary Policy Postpones first monetary policy statement as Governor to September 20 from September 16. To set up a panel on how to strengthen monetary policy...
  • Chidambaram will one day say 'Thank God RBI exists': Subbarao August 30, 2013

    Mumbai: Bringing their differences into open, outgoing RBI governor D Subbarao on Thursday took a dig at finance minister P Chidambaram for his comment once that he would "walk alone" to ensure growth in the face of tight money policy of the central bank. A week before he demits office, Subbarao...
  • RBI Governor blames UPA govt's 'loose fiscal stance' for the current economic woes August 29, 2013

    In a forthright "last public lecture" before he retires next week, RBI Governor D Subbarao was, on Thursday, sharply critical of the government, blaming its "loose fiscal stance" for the current economic woes, and warned that the root cause of rupee depreciation is "domestic structural factors." While the speed and timing...
  • RBI to issue new Rs 5 coins to mark 150th birth anniversary of Vivekananda August 29, 2013

    The Reserve Bank will soon issue Rs 5 coins to commemorate the 150th birth anniversary of Swami Vivekananda. "The government has minted the above coins (to commemorate the 150th birth anniversary of Swami Vivekananda), which the Reserve Bank of India will shortly put into circulation," RBI said in a press release. RBI...
  • D Subbarao cautions against creating 'too-large-to-fail bank' August 13, 2013

    Amidst the ongoing talks of consolidating small state-run banks to create one or two globally large size banks, Reserve Bank governor D Subbarao on Tuesday cautioned against making a 'too-large-to-fail' banks, saying what is needed is not a monopolist but a number of comparatively large banks. Citing the 2008 credit crisis,...
  • RBI chief Raghuram Rajan: The young, outspoken former IMF heavyweight September 4, 2013

    New Delhi: India named a former International Monetary Fund chief economist to head the Reserve Bank of India on Tuesday, giving fresh impetus to efforts to revive a struggling economy and a currency that is languishing at record lows. Raghuram Rajan, who predicted the global financial crisis in 2005, will take...
  • Raghuram Rajan takes charge as RBI Governor for 3 years August 6, 2013

    New Delhi: Chief Economic Advisor Raghuram G Rajan has taken charge as the next Governor of the Reserve Bank of India (RBI). Rajan replaced D Subbarao, who completes his five-year term on September 4, and will be the 23rd Governor of the central bank. "Prime Minister Manmohan Singh has approved appointment...
  • RBI to rollback steps after stabilisation of forex market August 2, 2013

    Hyderabad: The Reserve Bank on Friday said liquidity tightening measures will be rolled back only after stability is restored in the forex market as volatility hurts growth. "We will roll back these (liquidity tightening) measures only after we determine that stability has been restored to the foreign exchange market," RBI Governor...
  • RBI hints at status quo, will focus on stabilising rupee July 29, 2013

    Mumbai: Hinting at status quo on policy rates, the RBI on Monday said its immediate focus is to stabilise rupee and made a case for calibrated action to contain the current account deficit, which is a major reason for the steep fall in currency. "The priority for monetary policy now is...
  • RBI announces fresh steps to tackle rupee volatility July 15, 2013

    Mumbai: In a move to stem the continuing fall of rupee, the RBI on Monday night came out with a slew of measures including hiking the lending rates for banks and sucking up of Rs 12,000 crore, to make the currency dearer. The measures came after high level meetings between the...
  • Reserve Bank should focus on growth now, says SBI June 8, 2013

    Jaipur: Pitching for cut in policy rates, country's largest bank SBI on Friday said the Reserve Bank should now focus on growth as inflation has eased. "In my opinion, this is the time to focus on growth because a lot of ... has been done for inflation control and the...
  • Ponzi schemes: RBI for increasing regulations June 5, 2013

    Mumbai: In the wake of ponzi schemes and chit fund scams, Reserve Bank Governor D Subbarao on Wednesday said there is a need to review the regulations governing these sectors and increase surveillance on such entities. "There is a need to review the regulatory oversight of this sector keeping in...
  • RBI not targeting any particular exchange rate: Subbarao June 3, 2013

    New Delhi: With rupee hitting 11-month lows against dollar, Reserve Bank Governor D Subbarao on Monday said it is not targeting any particular exchange rate or any band. "We do not target an exchange rate. We do not target an exchange rate band. And I believe that our actions or...
  • Some truth in Cobrapost expose, will take action: RBI May 30, 2013

    Ahmedabad: There is "some truth" in Cobrapost's allegations of wrong doings by banks and RBI has issued notices to their managements, central bank Governor D Subbarao said on Thursday. "We have done study of those banks, investigated them ... We have done a larger study of those banks and we have...
  • RBI rules out ban on sale of gold coins by banks May 28, 2013

    Pune: The Reserve Bank on Tuesday ruled out a ban on the sale of gold by banks but asked lenders to refrain from aggressively selling the precious metal. RBI Governor D Subbarao told reporters here that the RBI did not intend to ban sale of gold coins by banks. "We do...
  • I-T dept issues notices to ICICI, Axis, HDFC banks May 28, 2013

    New Delhi: Income Tax department has issued notices to three top private lenders in the country - ICICI Bank, Axis Bank and HDFC Bank - in connection with alleged money laundering charges levelled by online portal Cobrapost. The department has asked these banks to produce documents for verification as part of...
  • RBI to take note of falling inflation in next policy review May 15, 2013

    Frankfurt: The Reserve Bank of India (RBI) has said it would take into account falling inflation while deciding on policy initiative in its review next month. "We certainly will take note of the softening of inflation and the external payments situation in the next mid-quarter policy statement on June 17,"...
  • No criminality in Cobrapost findings: SBI May 9, 2013

    Chandigarh: Bank officials' advices of splitting deposits to evade taxes, as exposed in a sting operation by an online news portal, are "undesirable loose talks" but there is no apparent criminality, SBI Chairman Pratip Chaudhuri said on Thursday. "Prima facie, things that have come to our notice it looks (that) there is...
  • RBI to launch plastic currency with longer shelf-life May 9, 2013

    Srinagar: Reserve Bank Governor D Subbarao on Wednesday said the central bank will soon introduce on a pilot basis plastic currency notes as they have longer shelf-life. "We are trying to introduce plastic currency...We hope to introduce it on trial basis and if that succeeds it will be replicated in...
  • RBI to use all options, including CRR, to manage liquidity May 7, 2013

    Mumbai: Reserve Bank Governor D Subbarao on Monday said the Reserve Bank will consider all options available, including reducing the cash reserve ratio (CRR), to manage liquidity in the system. "The assumption that OMOs will be the preferred tool is wrong. Don't go with that assumption. We will use all...
  • Will tweak KYC norms if required: RBI Dy Gov Chakrabarty April 23, 2013

    Mumbai: RBI Deputy Governor KC Chakrabarty on Tuesday said the central bank may introduce some corrective measures in KYC norms as an when necessary to check any "transaction-level aberrations" in the functioning of banks. "System is good, there is no problem. There are... (at the) transactional level, some aberration will always...
  • 'RBI may cut benchmark lending rate by 0.25 pc in May' April 21, 2013

    New Delhi: The Reserve Bank may cut the benchmark short-term lending rate by about 0.25 per cent in its annual monetary policy in May in the backdrop of declining inflation and the urgency to promote growth, say economists. "Right now conditions should enable the RBI to cut repo rate. We expect...
  • Vasundhara Raje demands apology from RBI governor April 9, 2013

    Jaipur: BJP Rajasthan president Vasundhara Raje on Monday demanded apology from RBI Governor D Subbarao for his comment on the rise in food inflation. The RBI Governor by saying that rural people's shift to protein and eating more of egg, milk and fruits is causing food inflation is an insult...
  • Rise in rural incomes fuelling food inflation: RBI Governor April 7, 2013

    Bangalore: The Reserve Bank of India (RBI) Governor D Subbarao sparked a controversy when he said rise in rural incomes was fuelling food inflation in the country. The Bharatiya Janata Party (BJP), the Left and even the Congress party have condemned his remark saying it is an insult to the...
  • RBI may ease monetary policy if inflation comes down April 6, 2013

    Bangalore: The Reserve Bank of India (RBI) would further ease its monetary policy if inflation comes down, the central bank's governor D Subbarao said Saturday. "We hope that as we go forward, inflation will come down and if that happens, it would be possible for the Reserve Bank to further...
  • Price stability necessary for long-term growth: RBI April 5, 2013

    Mumbai: Reserve Bank Governor D Subbarao has said that price stability was necessary for ensuring sustainable growth in the long term as it helps investors and consumers to take informed decisions. "There might be some trade-off in the short term but in the medium to long term, you need price stability...
  • RBI expresses concerns over Cyprus banks facing meltdown March 23, 2013

    Bangalore: Reserve Bank Governor D Subbarao on Friday expressed concerns over Cyprus banks facing meltdown, saying it has implications on the banking sector everywhere. The Cyprus banks' is "such a big issue" as the island nation is inter-connected with the world and what happens there has implications on the banking...
  • Room for monetary easing limited, says RBI Governor February 18, 2013

    Moscow: The Reserve Bank on Monday said there is a limited scope for easing of monetary policy over the next few months as there is a risk of inflation escalation as well as concerns over fiscal and current account deficits. "There is room for monetary easing over the next few...
  • India's trade deficit at $ 20 bn in Jan, 2nd highest ever February 13, 2013

    New Delhi: India posted its second highest ever monthly trade deficit of $20 billion in January, worsening from a $17.7 billion deficit in December, piling pressure on a widening current account deficit and limiting scope for the RBI to cut interest rates. Struggling to turn around an economy that is...