D Subbarao

  • Raghuram Rajan: RBI's new face is also its hottest 16-09-2013 04:47 PM

    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 04-09-2013 10:26 PM

    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...
  • Chidambaram will one day say 'Thank God RBI exists': Subbarao 30-08-2013 11:39 AM

    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,...
  • RBI Governor blames UPA govt's 'loose fiscal stance' for the current economic woes 29-08-2013 09:24 PM

    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...
  • RBI to issue new Rs 5 coins to mark 150th birth anniversary of Vivekananda 29-08-2013 05:02 PM

    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...
  • D Subbarao cautions against creating 'too-large-to-fail bank' 13-08-2013 05:01 PM

    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...
  • RBI chief Raghuram Rajan: The young, outspoken former IMF heavyweight 07-08-2013 08:35 AM

    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...
  • Raghuram Rajan takes charge as RBI Governor for 3 years 06-08-2013 04:19 PM

    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...
  • RBI to rollback steps after stabilisation of forex market 02-08-2013 02:21 PM

    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...
  • RBI hints at status quo, will focus on stabilising rupee 29-07-2013 06:18 PM

    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...
  • RBI announces fresh steps to tackle rupee volatility 15-07-2013 10:58 PM

    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...
  • Reserve Bank should focus on growth now, says SBI 08-06-2013 02:23 AM

    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 05-06-2013 06:47 PM

    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 03-06-2013 09:44 PM

    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 30-05-2013 11:20 PM

    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...
  • RBI rules out ban on sale of gold coins by banks 28-05-2013 10:24 PM

    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...
  • I-T dept issues notices to ICICI, Axis, HDFC banks 28-05-2013 09:59 PM

    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...
  • RBI to take note of falling inflation in next policy review 15-05-2013 05:35 PM

    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 09-05-2013 09:45 PM

    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)...
  • RBI to launch plastic currency with longer shelf-life 09-05-2013 02:19 AM

    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 07-05-2013 02:27 AM

    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 23-04-2013 03:15 PM

    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...
  • 'RBI may cut benchmark lending rate by 0.25 pc in May' 21-04-2013 11:30 AM

    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...
  • Vasundhara Raje demands apology from RBI governor 09-04-2013 12:25 AM

    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 07-04-2013 08:28 PM

    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 06-04-2013 11:30 PM

    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 05-04-2013 05:00 AM

    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...