Raghuram Rajan

  • No one else but Mahatma Gandhi on currency notes: Raghuram Rajan August 12, 2014

    Mumbai: As speculation swirled about various names for Bharat Ratna, Reserve Bank Governor Raghuram Rajan on Monday said that nobody but Mahatma Gandhi should feature on the currency notes. "There are so many great Indians, but of course he (Gandhi) stands above head and shoulders above every one. There are many...
  • Rajan says western governments must do more to revive economies August 12, 2014

    Mumbai: Reserve Bank Governor Raghuram Rajan on Monday said he would like the political systems in developed countries to do more rather than depending on monetary policies to boost their sagging economies. "My colleagues in industrial countries are trying too hard (to revive their economies), and I would prefer monetary policy...
  • Crony capitalism hampers economic growth: RBI governor August 11, 2014

    Mumbai: Reserve Bank Governor Raghuram Rajan on Monday came out strongly against "crony capitalism", saying it kills transparency and competition and hence is harmful to free enterprise, opportunity and economic growth. "By killing transparency and competition, crony capitalism is harmful to free enterprise, opportunity, and economic growth," Rajan said, delivering a...
  • RBI's tough inflation stance risks stand-off with Modi government August 9, 2014

    Mumbai/New Delhi: Reserve Bank of India (RBI) Governor Raghuram Rajan has set himself a target of lowering consumer inflation and is even ready to raise rates to achieve it, risking friction with the new government if he is seen as overstepping. Rajan, well known within the RBI for pragmatism, now must...
  • India's central bank governor warns of global market 'crash' August 7, 2014

    Mumbai: India's central bank governor Raghuram Rajan says global markets are at risk of a "crash" should investors start bailing out of risky assets created by the loose monetary policies of developed economies. The comments, carried in an interview with Central Banking Journal, reiterate Rajan's previous warnings that emerging markets were...
  • India no longer a problem economy: Raghuram Rajan August 5, 2014

    Mumbai: Reserve Bank Governor Raghuram Rajan on Tuesday said India has emerged from the perception of being in crisis and has placed itself as a better place to remain invested. "I keep telling the international fora that India is not a problem any more. I think there was a perception problem...
  • RBI Governor launches Indian Bank's mobile branches July 12, 2014

    Chennai: As part of the urban financial inclusion initiative by public sector Indian Bank, two mobile branches with ATM facility was launched by RBI Governor Raghuram G Rajan. Rajan recently launched two mobile branches with ATM facility to provide banking services in areas of Royapuram, Tiruvotriyur, Tondiarpet in North Chennai...
  • Raghuram Rajan says too early to declare victory over NPA battle July 10, 2014

    Chennai: Reserve Bank Governor Raghuram Rajan on Thursday said it is too early to declare victory over the high non-performing assets in the system, which will improve only with an uptick in growth expected during this fiscal. "I think, the most immediate problem we have to confront is that of rising...
  • Poverty definition immaterial for financial services: Raghuram Rajan July 2, 2014

    Mumbai: As the debate over the definition of poverty continues, Reserve Bank of India Governor Raghuram Rajan on Wednesday said that descriptions don't matter when it comes to financial services, which are unavailable for a large number of people. "It doesn't matter that we have a precise definition. There's so much...
  • Proper food management to help ease price rise: RBI June 17, 2014

    Mumbai: The Reserve Bank on Tuesday said it is closely watching inflation situation and hoped that proper food management will help in easing of food prices. "We are watching inflation situation. Food prices have had an effect in the last couple of months," RBI governor Raghuram Rajan said, adding food prices...
  • India watching Iraq, economy prepared to deal with shocks: RBI June 17, 2014

    New Delhi: Reserve Bank of India Governor Raghuram Rajan said the country is watching the Iraq situation, but despite the uncertainty the domestic economy is better prepared to deal with any shocks on the external front. The rupee tumbled to its lowest level in nearly two months on Tuesday on the...
  • Jaitley underlines need to lower cost of business to up growth June 8, 2014

    Mumbai: Ahead of the union budget, Finance Minister Arun Jaitley met financial sector regulators in Mumbai on Saturday. The meeting was to discuss the current financial and economic indicators. The meeting was also to take up suggestions on the forthcoming policy of the goverenment. Jaitley has been holding a series...
  • News 360: Union Minister Gopinath Munde dies in road accident in Delhi June 3, 2014

    In a tragic turn of events on Tuesday morning, Union Minister for Rural Development Gopinath Munde died of multiple internal injuries after his car was hit by another vehicle in Delhi. The 64-year-old Munde, who is survived by his wife and three daughters, was going to the Delhi airport to...
  • Inflation not easing soon; rate hike likely by December: Analysts June 3, 2014

    Mumbai: As the Reserve Bank maintained a status quo on key policy rates, analysts said that higher demand due to supply constraints will not allow inflation to ease as quickly as anticipated and the apex bank may be forced to increase rates once more by the year-end. In its second...
  • RBI keeps key policy rates unchanged; slashes SLR by 0.5 per cent June 3, 2014

    There have been no changes in key policy rates by the Reserve Bank of India. While announcing the second bi-monthly monetary policy, 2014-15, in Mumbai on Tuesday, RBI Governor Raghuram G Rajan said that the apex bank has kept the policy repo rate under the liquidity adjustment facility (LAF) unchanged...
  • RBI Governor meets PM Narendra Modi, briefs him on Budget issue June 14, 2014

    New Delhi: Governor of the Reserve Bank of India Raghuram Rajan on Sunday met Prime Minister Narendra Modi for discussions over the Union Budget. Since the previous government's term ended in May, the UPA government had rolled out an interim budget only till the time the new administration is installed. The...
  • RBI's '007' Raghuram Rajan faces pro-growth boss in Narendra Modi June 14, 2014

    Mumbai: Hailed as a troubleshooting "James Bond" of central bankers amid India's currency crisis last year, Raghuram Rajan was given a licence to kill inflation with higher interest rates and drive a programme of monetary policy reforms. Now, the governor of the Reserve Bank of India (RBI) may need all the...
  • Narendra Modi's economic ministers get cracking June 14, 2014

    New Delhi: Prime Minister Narendra Modi's crack team of economic ministers led by Arun Jaitley in finance from Tuesday began the Herculean task of arresting price rise, reviving investor confidence and boosting growth. Jaitley, who has also been given the Ministry of Corporate Affairs, pledged to contain the price rise,...
  • FM Arun Jaitley meets RBI Governor Raghuram Rajan May 27, 2014

    New Delhi: Raghuram Rajan, the Governor of Reserve Bank of India (RBI), on Tuesday met Finance Minister Arun Jaitley. Rajan said that one must wait for the policies of the new government to take effect. "You will see the policies as they roll out," he said. Jaitley had said that curbing...
  • PSU banks need to free themselves from government influence: Raghuram Rajan May 20, 2014

    New Delhi: Pitching for greater operational flexibility to public sector banks, Reserve Bank Governor Raghuram Rajan on Tuesday said that they can become more competitive by distancing themselves from government influence. "If public sector banks become competitive, and especially if they do so by distancing themselves from the influence of...
  • Retain Rajan as RBI Governor, Jagdish Bhagwati advises Modi May 19, 2014

    New Delhi: Describing the BJP's election victory as an "astonishing triumph of Narendra Modi," noted economist Jagdish Bhagwati on Monday advised him to retain Raghuram Rajan as RBI Governor and to hold monthly press conferences to articulate the government's agenda. "The astonishing triumph of Narendra Modi in the greatest election...
  • RBI to launch plastic notes in 2015 after field trials May 15, 2014

    Shimla: Plastic currency notes would be launched in the country in 2015 after field trials, Reserve Bank Governor Raghuram Rajan said on Thursday. "Plastic notes are coming. Tender bids have come for one billion notes. In five cities, pilot testing would be done, including Shimla. In 2015, it would be launched...
  • Ready to deal with market volatility on poll result day: RBI May 15, 2014

    New Delhi: Reserve Bank of India Governor Raghuram Rajan on Thursday discussed a contingency plan with the Finance Ministry and stock market regulator Securities and Exchanges Board of India (SEBI) to deal with market volatility on Friday as the Lok Sabha elections will be declared on May 16. Rajan said that...
  • I decide monetary policy, govt can fire me if it wanted: Raghuram Rajan May 9, 2014

    New Delhi: Asserting independence of the central bank, Reserve Bank Governor Raghuram Rajan on Friday said that it is he who determines the monetary policy and the government can fire him if it wanted. "I determine the monetary policy. I say what it is. The government can fire me, but the...
  • Raghuram Rajan signed Rs 1000 banknotes to come up shortly May 6, 2014

    Mumbai: Reserve Bank will shortly issue banknotes of Rs 1000 denomination in the Mahatma Gandhi series-2005 bearing the signature of Governor Raghuram Rajan. "The RBI will shortly issue Rs 1000 denomination Banknotes incorporating rupee symbol on the obverse and reverse, with inset letter 'L' in both the numbering panels, in the...
  • RBI Governor Raghuram Rajan urges youth to vote April 24, 2014

    "It is the duty of every citizen to vote. So if you can come out of the house and vote, you should," the 51-year-old banker said. ...
  • Finance Ministry rejects RBI plan to split CMD's post in PSU banks April 8, 2014

    New Delhi: The Finance Ministry has turned down the Reserve Bank's proposal to bifurcate the post of Chairman and Managing Director in public sector banks saying this position doesn't enjoy absolute powers as is being claimed by some international experts. Rejecting the RBI's proposal to restructure the board of PSU banks,...
  • Exclusive: Not worried about rupee overvaluation right now, says Rajan April 2, 2014

    Mumbai: Reserve Bank of India governor Raghuram Rajan said he was not worried about rupee overvaluation for now. Strong foreign fund inflows over the last couple of months have lifted the rupee to an 8-month high, stoking concerns that India's exports could become uncompetitive. "When we were at 60/$, people...
  • RBI gets EC approval to grant new bank licences April 1, 2014

    New Delhi: Ending weeks of uncertainty, the Election Commission on Tuesday allowed the Reserve Bank of India to issue licences for setting up new banks. "The Commission is of the view that the Reserve Bank of India (RBI) may take necessary action (for grant of in-principle approval for banking licences) as...
  • Full text: First 2014-15 bi-monthly Monetary Policy Statement April 1, 2014

    The Reserve Bank of India on Tuesday released it bi-monthly monetary statement keeping the repo rate unchanged at 8 per cent. The CRR has been kept at 4 per cent. Here is the full text of first bi-monthly Monetary Policy Statement: Monetary and Liquidity Measures On the basis of an assessment of the...