RAGHURAM RAJAN

  • RBI cuts repo rate by 25 basis points to 7.75% with immediate effect January 15, 2015

    Mumbai: The Reserve Bank of India on Thursday surprised the market by cutting repo rate by 25 basis points to 7.75 per cent from 8 per cent, with immediate effect, ahead of its policy review on February 3. "Households' inflation expectations have adapted, and both near-term and longer-term inflation expectations...
  • RBI governor Raghuram Rajan named as the 'governor of the year' in Central Banking Awards 2015 January 13, 2015

    Mumbai: RBI chief Raghuram Rajan has been named as the "governor of the year" in the Central Banking Awards for 2015 by a British magazine for "his deep understanding of the root causes of economic problems of the country combined with an impressive leadership style." The British magazine Central Banking,...
  • Government not to interfere in working of state-owned banks: PM Modi January 3, 2015

    Pune: Prime Minister Narendra Modi on Saturday pledged not to interfere in the functioning of public sector banks, but wanted the lenders to be accountable failing which interventions in public interest could be made. At the concluding session of the two-day bankers' meet 'Gyan Sangam' to chalk out banking reforms, Modi...
  • PM Modi seeks end to lazy banking; asks banks to be more proactive January 3, 2015

    Pune: Calling for an end to "lazy banking", Prime Minister Narendra Modi on Saturday said he is against any political interference in functioning of banks but supports necessary "intervention" in the public interest. Calling upon the banking sector to establish banks which rank among the top banks of the world, Modi...
  • Banks need more autonomy to make commercial decisions: Arun Jaitley January 3, 2015

    On the day two of the Bankers meet in Pune, Finance Minister Arun Jaitley on Saturday said, "There are unacceptable levels of NPAs in some cases, and the banks have to be given a sufficient amount of leeway to deal with commercial issues with a commercial mindset." ...
  • Finance Minister Arun Jaitley denies pressuring RBI to cut rates December 30, 2014

    Mumbai/ New Delhi: Finance Minister Arun Jaitley denied on Tuesday that he was pressuring the Reserve Bank of India (RBI) into cutting interest rates, after his comment that the high cost of capital was stifling investment sent markets into a tizzy. Jaitley, in a speech in Delhi on Monday, said "costly...
  • Arun Jaitley rejects Raghuram Rajan's criticism of 'Make in India' December 29, 2014

    New Delhi: Rejecting RBI Governor Raghuram Rajan's criticism of 'Make in India' programme, Finance Minister Arun Jaitley on Monday said it is about manufacturing of quality products at low costs and it was not relevant whether they are sold in India or abroad. "Whether Make...
  • India working to fix e-commerce payments post-Uber case: RBI Governor December 27, 2014

    Mumbai: US taxi-hailing company Uber Technologies violated Indian regulations by "bypassing" rules when it used an overseas gateway to conduct transactions in the country, Reserve Bank of India (RBI) Governor Raghuram Rajan said. The central bank is working to set a legal framework for the use of advanced e-commerce technologies but...
  • Scamsters pose as RBI chief Raghuram Rajan, lure people to deposit Rs 15,500, get Rs 5.50 crore December 5, 2014

    New Delhi: Taking bank lottery scam to a new level, scamsters are using the name and picture of RBI chief Raghuram Rajan to lure gullible people into making a cash deposit of Rs 15,500 to get a winning amount of Rs 5.50 crore. The 'lottery' amount that they promise to credit...
  • News360: Minister Niranjan Jyoti apologises, Opposition demands her sacking December 2, 2014

    Union Minister of State for Food Processing Industries Sadhvi Niranjan Jyoti apologised to the Parliament for her controversial remarks in a public rally on Monday. However, the Opposition refused to relent, saying they wanted her to be sacked. ...
  • RBI sets 6 pc consumer price index target for 2016 December 2, 2014

    Mumbai: The Reserve Bank of India (RBI) has set a target of 6 per cent for consumer price index by 2016, said RBI Governor Raghuram Rajan adding that inflation is near comfort zone. Talking to Network18, the RBI Governor said inflation has been on the glide path. "We are seeing positive...
  • Live: Inflation is near comfort zone, 6 pc consumer price index target by 2016, says RBI Governor Raghuram Rajan December 2, 2014

    Reserve Bank of India Governor Raghuram Rajan in an interview with Network18 talks on various economic policies. ...
  • RBI Governor flays firms' myopic view on growth-inflation dynamics December 2, 2014

    Mumbai: Trashing India Inc's incessant criticism that RBI is not reducing interest rates, Governor Raghuram Rajan on Tuesday accused them of being myopic and asserted that the central bank is for the "strongest possible growth". "I think there is a misconception in corporate India that the...
  • RBI expected to hold rates, sound dovish to soothe government December 2, 2014

    Mumbai: The Reserve Bank of India is expected to keep interest rates unchanged on Tuesday, staying focused on containing inflation, while adopting a more dovish tone in response to the government's call for help to revive economic growth. Forty-one of 45 economists saw the RBI keeping the repo rate at 8.00...
  • Ready to be more flexible in loan recast to spur growth: RBI November 25, 2014

    Anand: The RBI is ready to give banks more flexibility in restructuring of stressed loans if it facilitates recovery of stalled projects, Governor Raghuram Rajan on Tuesday said. "The RBI is exploring ways to allow banks more flexibility in (loan) restructuring. This is a risk we are prepared to take...
  • Raghuram Rajan keeps promise, speaks in Hindi at RBI function November 13, 2014

    Mumbai: A year after promising to address the audience in Hindi, RBI Governor Raghuram Rajan on Thursday walked the talk and delivered his keynote address in the official language at a function. "It has become an integral part of customer service to work in Hindi in the changing economic scenario. That...
  • RBI against loan waiver scheme by state governments November 13, 2014

    Mumbai: Reserve Bank Governor Raghuram Rajan expressed reservation over the loan waiver scheme by various state governments and also suggested reasonable interest rate ceiling on loans from microfinance lenders. "Repeated loan waivers by various state governments distorts credit pricing, thereby also disrupting the credit market," he said at a function...
  • Arvind Subramanian is a creative thinker: US think tank October 16, 2014

    Washington: Arvind Subramanian, appointed as India's Chief Economic Adviser, is more than just a mainstream macro-economist and is a creative thinker, the head of a top American think tank on economic issues said on Thursday. "Arvind is much more than your mainstream macro-economist. He is an immensely knowledgeable and creative...
  • RBI's fresh agility helps tame India's money market volatility October 9, 2014

    Mumbai: The Reserve Bank of India (RBI) has finally made progress in taming the country's volatile money markets, displaying two traits it has been rarely associated with in the past: flexibility and a willingness to correct course mid-way. The overnight cash rate, a key indicator of liquidity, has recovered from a...
  • Finance Ministry, RBI to decide on monetary policy framework by December end October 7, 2014

    New Delhi: The Finance Ministry and the RBI will finalise a new monetary policy framework by December end under which the central bank will pursue the retail inflation target to be decided by the government. According to official sources, the internal work for the new...
  • RBI has no bias either to cut or hike rates: Raghuram Rajan October 1, 2014

    Mumbai: The Reserve Bank has no bias either to cut or hike the key rates and the direction of the monetary policy will be influenced entirely by data, Governor Raghuram Rajan said on Wednesday. "Our policy stance today is reasonable and we see no reason to alter it today based on...
  • Coalgate: System has flexibility to deal with loans, says Raghuram Rajan September 30, 2014

    Mumbai: Reserve Bank Governor Raghuram Rajan on Tuesday said that there is already "fair amount of flexibility" in the system to deal with loans impacted by the Supreme Court order to de-allocate 214 coal blocks. "I will reiterate that whenever we have issues of flexibility coming up, the real issue...
  • System has flexibility to deal with loans: Raghuram Rajan on Coalgate September 30, 2014

    Mumbai: Reserve Bank Governor Raghuram Rajan on Tuesday said there is already "fair amount of flexibility" in the system to deal with loans impacted by the Supreme Court order to de-allocate 214 coal blocks. "I will reiterate that whenever we have issues of flexibility coming up, the real issue is putting...
  • Need to break back of inflation: Raghuram Rajan September 25, 2014

    Mumbai: Reserve Bank Governor Raghuram Rajan said there was a need to "break the back" of inflation which remains high and controlling it would make the apex bank's position more comfortable. "The real problem is inflation that is persistent. We have been emphasising again and again in order to break...
  • Raghuram Rajan bats for more freedom to staterun banks September 15, 2014

    Mumbai: Batting for greater autonomy to staterun lenders, RBI Governor Raghuram Rajan on Monday said that the government should look at them as truly "independent entities" that take their own commercial decisions and not as an extended arm of the administration. He also said that while it was fine for the...
  • RBI Governor urges Centre to deregulate diesel prices September 15, 2014

    Mumbai:Even as the government is continuing with a phased deregulation of diesel prices, RBI Governor Raghuram Rajan has urged the Centre to completely deregulate diesel prices. Rajan on Monday said diesel price deregulation is especially important in the wake of rising global crude oil prices. "Deregulation will empower stateowned oil firms...
  • Don't follow straightjacket approach on inflation: RBI September 11, 2014

    New Delhi: Reflecting differences within the Reserve Bank, noted economist and RBI's independent director Indira Rajaraman on Thursday said that the central bank should not follow a straightjacket approach of controlling inflation. "I think the RBI made things harder for itself by this straightjacket approach of committing themselves to inflation...
  • Grand, big picture reforms in India may take some time: Raghuram Rajan September 7, 2014

    New York: India's new government may take some time to unveil "grand, big picture reforms" as it is currently focusing on implementation of stalled projects worth US dollar 5070 billion that will pay dividends in the short run by helping on the inflation and income fronts, RBI Governor Raghuram Rajan...
  • Inflation still high, says RBI governor September 5, 2014

    Mumbai: Ahead of the policy review by monthend, Reserve Bank Governor Raghuram Rajan has said that inflation is still high. "... but inflation still remains high on supplyside rigidities," Rajan was quoted as telling a conference in Boston, USA, by the organisers Citi. ...
  • 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...