Raghuram Rajan

  • Finance Ministry rejects RBI plan to split CMD's post in PSU banks 08-04-2014 06:11 PM

    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...
  • Exclusive: Not worried about rupee overvaluation right now, says Rajan 02-04-2014 02:41 PM

    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 01-04-2014 06:34 PM

    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)...
  • Full text: First 2014-15 bi-monthly Monetary Policy Statement 01-04-2014 11:12 AM

    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...
  • RBI set to announce annual monetary policy today, no changes likely 01-04-2014 09:04 AM

    The Reserve Bank will come out with annual monetary policy on Tuesday amid expectations that it will maintain status quo because retail inflation, especially in food items, is yet to show definite signs of moderation. ...
  • RBI likely to maintain status quo in monetary policy on Tuesday 31-03-2014 03:41 PM

    New Delhi: The Reserve Bank will come out with annual monetary policy on Tuesday amid expectations that it will maintain status quo because retail inflation, especially in food items, is yet to show definite signs of moderation. "It would be quite a tough call for the RBI in the given...
  • Amartya Sen, 4 other Indians in the race for world's top thinkers 28-03-2014 05:40 PM

    London: Five Indians are in the race for "the world's most important thinker - 2014". It is a part of a 10-year-old annual global poll conducted by the Prospect magazine. Its 2014 list has five Indians names. Interestingly, four of them are renowned economists. Nobel award winning economist Amarthya Sen,...
  • Chidambaram to discuss United Bank crisis with RBI Governor 05-03-2014 05:36 PM

    New Delhi: Finance Minister P Chidambaram on Wednesday said he will discuss United Bank of India's bad loan crisis with the Reserve Bank Governor later this week. "United Bank is a special case. We will deal with that. It's not an alarming case...UBI issue will be discussed separately when the...
  • RBI committed to "strongest growth possible": Rajan 26-02-2014 11:34 PM

    Under flak from various quarters for raising rates, RBI Governor Raghuram Rajan on Wednesday said the central bank is committed to the "strongest growth possible" and is on the same page as the Finance Ministry on this front. The Reserve Bank of India (RBI) also strongly favours targeting CPI inflation...
  • Inflation views aligned with government, says Raghuram Rajan 24-02-2014 06:12 PM

    Reserve Bank of India (RBI) Governor Raghuram Rajan said the government and the Reserve Bank of India (RBI) shared similar views on inflation management, while reiterating a call for the US Federal Reserve to be more sensitive to emerging economies. Rajan's comments, in an interview with CNBC, come after Finance...
  • Two opposition parties call Jharkhand bandh on March 2 22-02-2014 09:52 PM

    Opposition Ajsu party and the Jharkhand Vikas Morcha (Prajatantric) on Saturday announced statewide bandh on March 2 in protest against the Centre not according special category status to Jharkhand while granting it to Seemandhra. "The party has called the bandh to protest against the Centre ignoring our demand to accord...
  • RBI will need to keep raising policy interest rate: IMF 22-02-2014 09:41 AM

    Mumbai: The Reserve Bank of India will need to continue raising its policy interest rate given the sticky nature of inflation, the International Monetary Fund said on Thursday. "The ingrained nature of inflation and inflation expectations mean that reducing inflation - even over a protracted horizon - will require significant...
  • Use social media as listening post to pick up frauds: Raghuram Rajan 12-02-2014 05:46 PM

    With instances of online financial frauds on the rise, Reserve Bank Governor Raghuram Rajan on Wednesday mooted the idea of using the social media by the regulator as a tool to pick-up wrongdoings. "Can we enlist social media in enabling the public to identify fraud and can we as regulators...
  • No decision on setting up of 'Payments Banks' yet: Raghuram Rajan 12-02-2014 12:50 PM

    A decision on setting up 'Payments Banks' or specialised banks to provide services to small businesses will be taken only after looking into various aspects including arbitrage issues, RBI Governor Raghuram Rajan said on Wednesday. "At this point there is no decision to move forward. We will look at it...
  • Role of serendipity and Rajan's journey to Mint Street 12-02-2014 07:25 AM

    Mumbai: He took over as RBI Governor barely six months ago, but Raghuram Rajan on Tuesday confessed that he had expressed his desire to head the central bank one day decades ago while studying at the IIM-Ahmedabad. "I want to highlight the role of serendipity - in terms of three...
  • Centre cheating Bihar by ignoring special status demand, says Nitish Kumar 03-02-2014 07:44 AM

    Stepping up his attack on UPA government ahead of Lok Sabha elections, Chief Minister Nitish Kumar on Sunday accused the Centre of cheating Bihar and its people by putting the demand of special status in cold storage. "We have been cheated by the Centre as it put the process for...
  • Conditions getting into place for strong economic growth: RBI Governor 31-01-2014 01:26 PM

    Reserve Bank of India Governor Raghuram Rajan has the tough job of making sure that inflationary pressures are kept under check though monetary policy reviews. IN an exclusive interview to Karan Thapar on Devil's Advocate, Rajan admitted that Indian economy was passing through a rough phase but expressed confidence that...
  • Hike in LPG cap a misdirected subsidy: RBI Governor Raghuram Rajan 30-01-2014 09:49 PM

    Reserve Bank of India Governor Raghuram Rajan has questioned the decision to raise the cap of subsidised LPG cylinders from 9 to 12 per annum, calling it a 'misdirected subsidy'. Speaking to Karan Thapar on Devil's Advocate, Rajan said, "What one should be careful about is expanding the misdirected subsidies...
  • RBI Governor questions rise in LPG cap, calls it misdirected subsidy 30-01-2014 06:25 PM

    New Delhi: Reserve Bank of India Governor Raghuram Rajan has questioned the decision to raise the cap of subsidised LPG cylinders from 9 to 12 per annum, calling it a 'misdirected subsidy'. Speaking to Karan Thapar on Devil's Advocate, Rajan said, "What one should be careful about is expanding the...
  • RBI a vigilant owl, not a dove or a hawk: Raghuram Rajan 28-01-2014 06:03 PM

    The Reserve Bank brass took to ornithology to explain its policy stance and its intents as it took everyone by surprise with a rate hike on Tuesday. "We are neither hawks, nor doves. We are actually owls," Governor Raghuram Rajan said eliciting loud laughter at the customary post-policy press conference...
  • Withdrawal of pre-2005 notes is not to check black money: Raghuram Rajan 28-01-2014 03:34 PM

    Reserve Bank Governor Raghuram Rajan on Tuesday said the withdrawal of pre-2005 notes is not intended to check black money but to prevent counterfeiting. "It is not intended to get at black money, tax evasion etc. I am not saying those are good things. This is technical action, in order...
  • Raghuram Rajan defends rate hike, says cut wouldn't have helped banks 28-01-2014 03:10 PM

    RBI Governor Raghuram Rajan, who on Tuesday surprised markets with a rate hike, defended the move saying a rate cut would not have impacted either banks or borrowers and that bringing down retail prices is the key to sustainable growth. "If we cut policy rates, it won't have any impact...
  • RBI hikes repo rate by 25 bps, keeps CRR unchanged at 4 pc 28-01-2014 11:11 AM

    New Delhi: The Reserve Bank of India on Tuesday hiked repo rate by 25 basis points. Following the hike the lending rate is now 8 per cent. However, it has kept the cash reserve ratio (CRR) unchanged at 4 per cent. The announcement were made at the third quarter monetary...
  • RBI to announce 3rd quarter monetary policy review today 28-01-2014 09:20 AM

    New Delhi: The Reserve Bank of India is likely to announce the third quarter monetary policy on Tuesday. The experts have said that the RBI may retain the status quo despite the clamour to slash interest rates. Banks across the country have been insisting on rate cuts to help boost...
  • RBI Governor visits Kasturba school, hails Bihar government efforts 22-01-2014 03:06 PM

    Reserve Bank of India (RBI) Governor Raghuram Rajan on Wednesday visited a model girls school in Jehanabad predominately for weaker section and praised Bihar government for the effort. Accompanied by World Bank officials Rajan visited Kasturba Gandhi Balika school in Jehanabad, around 60 km from state capital Patna, to have...
  • RBI moves towards monetary policy overhaul 22-01-2014 10:08 AM

    The Reserve Bank of India should make managing inflation its main policy objective and set monetary policy by committee, a central bank panel has recommended, a shift that would bring its practices in line with many other central banks. The recommendations are widely expected to be accepted. They were issued...
  • Nitish Kumar seeks effective steps from Raghuram Rajan to boost bank CD ratio 21-01-2014 10:22 PM

    Bihar Chief Minister Nitish Kumar on Tuesday drew attention of Reserve Bank of India (RBI) Governor Raghuram Rajan towards low cash deposit (CD) ratio of banks in the state and sought effective steps for its improvement. Kumar sought effective RBI initiative to improve the CD ratio during a meeting with...
  • Rupee fell marginally, closes at 61.62 vs US dollar 20-01-2014 06:12 PM

    The rupee fell marginally on Monday, hurt by broad gains globally in the dollar, but strong foreign fund inflows into domestic bonds prevented broader losses. Foreign institutional investors have been heavy investors in local debt, being net buyers for seven successive sessions to Friday, taking the total purchases for the...
  • Rajan's report card in 2014 16-01-2014 02:18 PM

    There are four elements of the report card that we would write in December 2014. How much has year-on-year CPI inflation declined? Did the exchange rate hijack monetary policy? Has the bond-currency-derivatives nexus started thriving, with liquidity and market efficiency? Has substantial implementation of the Indian Financial Code taken place?...
  • Need to focus on growth, says Economic Affairs Secretary ahead of RBI policy 12-01-2014 01:21 PM

    Ahead of the RBI's monetary policy review, Economic Affairs Secretary Arvind Mayaram has pitched for shifting the policy focus to growth as interest rates do not have a bearing on food inflation. "I will not like to second-guess the RBI at all...I will fervently appeal to anybody who listens to...