RAGHURAM RAJAN

  • RBI chief Rajan calls for formal financing routes for farmers: Report 1 hour 13 minutes ago

    Mumbai: Reserve Bank of India Governor Raghuram Rajan called for an urgent expansion of formal financing routes for farmers after a spate of suicides in the country, a newspaper said on Saturday. "It is lack of formal financing rather than the excessive burden of informal financing which is the problem. So...
  • Need of the hour is to expand formal financing institutions in India: Raghuram Rajan Yesterday

    RBI governor Raghuram Rajan has also spoken out against the spate of farmer suicides. He said that small and marginal farmers in the country should have access to formal financing. ...
  • 'Careful' management of demand vital for Make in India: Raghuram Rajan Yesterday

    Chandigarh: Reserve Bank Governor Raghuram Rajan on Friday said for the success of Make in India domestic demand needs to be managed "carefully" and industry should be made competitive, while stating that economic security is a must for national security. 'Make in India' initiative could also be an answer to increase...
  • RBI nod for different rates on deposits with early withdrawal April 16, 2015

    Mumbai: The Reserve Bank on Thursday allowed banks to offer differential interest rates on term deposits depending on whether they are with or without premature withdrawal facility. While all term deposits of individuals (held singly or jointly) of Rs 15 lakh and below should "necessarily" have premature withdrawal facility, RBI said...
  • RBI Governor Raghuram Rajan receives threat email, Cyber Crime Investigation Cell launches probe April 16, 2015

    Mumbai: Reserve Bank of India Governor Raghuram Rajan has received a threat message on his email ID. According to Mumbai Police sources, the email was sent from a Gmail id. RBI officials have alerted the office of the Joint Commissioner, Crime Branch. The Cyber Crime Investigation Cell has launched a probe...
  • Arun Jaitley leaves for US on April 14 to attend IMF-World Bank meet April 13, 2015

    New Delhi: Finance Minister Arun Jaitley is leaving for the US on Tuesday night to attend the IMF-World Bank Spring meetings in Washington. RBI Governor Raghuram Rajan and other senior officials of the Finance Ministry and the Reserve Bank will participate in the meeting that is likely to focus on the...
  • Raghuram Rajan says full rupee convertibility in a few years April 10, 2015

    Pune: Reserve Bank Governor Raghuram Rajan on Friday said the central bank is looking at allowing full capital account convertibility in a few years. "My hope is that we will get to full capital account convertibility in a short number of years," he said. Full capital convertibility means a foreign investor...
  • Bank in distress too will get capital support from government: Raghuram Rajan April 9, 2015

    New Delhi: Reserve Bank Governor Raghuram Rajan on Thursday said that banks in distress will get capital support from the government if they make a clear case for recapitalisation. The government has changed the criteria for infusion of capital in the public sector banks which says banks fitting the 'Return on...
  • Axis Bank cuts base rate by 0.20 per cent to 9.95 per cent April 8, 2015

    Mumbai: Country's third-largest private sector lender Axis Bank on Wednesday cut its base rate or the minimum rate of lending by 0.20 per cent to 9.95 per cent, following its larger peers who also cut their offerings on Tuesday after Reserve Bank Governor Raghuram Rajan's hard talk. "Axis Bank has revised...
  • Raghuram Rajan calls on Arun Jaitley, discuss macro-economic situation April 8, 2015

    New Delhi: A day after presenting first bi-monthly monetary policy of 2015-16, RBI Governor Raghuram Rajan on Wednesday called on Finance Minister Arun Jaitley and is believed to have discussed macro economic situation and the new monetary policy framework. Besides Jaitley, he also met Minister of...
  • RBI keeps interest rates unchanged, EMIs likely to remain the same April 7, 2015

    New Delhi: The Reserve Bank of India kept interest rates on hold at 7.50% on Tuesday, waiting for more clarity on inflation after heavy rains raised uncertainty about food prices and seeking to grant banks more time to reflect its previous rate cuts. With the apex bank not tinkering with...
  • RBI chief Raghuram Rajan backs removal of central bank's debt powers March 22, 2015

    New Delhi: Reserve Bank of India (RBI) governor, Raghuram Rajan, on Sunday cautiously backed a government plan to hand public debt management to a new agency, as the two sides played down reports of friction over the biggest regulatory shakeup in a generation. In February, the RBI formally adopted inflation targeting...
  • PDMA should be independent of government and RBI, says Raghuram Rajan March 22, 2015

    New Delhi: Public Debt Management Agency (PDMA) should be independent of the government as well as the central bank for ensuring fiscal discipline, RBI Governor Raghuram Rajan said on Sunday. "Public debt management agency as a professional organisation, independent of the central bank and government, that is something that is...
  • No disconnect between RBI and government, says Arun Jaitley March 22, 2015

    New Delhi: Scotching murmurs of differences between the government and the Reserve Bank of India over regulation of money market, Finance Minister Arun Jaitley on Sunday said there is no 'disconnect' between the two and hoped banks would follow the central bank in reducing interest rates. Jaitley, who addressed the RBI...
  • India's record foreign exchange war chest set for Federal rate hike test March 19, 2015

    Mumbai: Chastened by a tumble in the rupee in 2013 at the prospect of tighter US monetary policy, India has built up record foreign exchange reserves of nearly $340 billion to insulate the economy from capital flight as the United States prepares to lift interest rates. Reserve Bank of India Governor...
  • India ready to deal with any foreign fund outflows: RBI Governor Raghuram Rajan March 19, 2015

    US Federal Reserve had signalled that it is not averse to a rate hike if there is improvement in the US job market and inflation. The Federal Reserve has kept its key short-term rate near zero since late 2008 to bolster the economy. Meanwhile, RBI Governor Raghuram Rajan has said...
  • India to strip RBI of power to regulate government bonds March 18, 2015

    New Delhi: India plans to strip its central bank of authority to regulate government bonds but leave it in charge of other money market instruments, setting the stage for a confrontation with Reserve Bank of India Governor Raghuram Rajan. The move by Arun Jaitley's finance ministry is part of an overhaul...
  • India's economy recovering, reforms vital, says IMF March 11, 2015

    New Delhi: India's economy is recovering and its ability to withstand external shocks has improved, but growth is likely to fall short of government targets, the International Monetary Fund said on Wednesday. In an annual report, the IMF forecast that Asia's third-largest economy would grow by 7.5 percent in the 2015/16...
  • Government faces potential clashes with RBI over who decides rates March 6, 2015

    New Delhi: Having agreed this week to formally adopt inflation targeting as a guiding star for monetary policy, the government and central bank remain at odds over how crucial decisions are made. Both sides support the setting up of a Monetary Policy Committee, as first officially proposed in 2014 when a...
  • RBI Governor Rajan expects banks cutting rate from April March 4, 2015

    Mumbai: After cutting the repo rate by 25 bps in a surprise inter-meeting monetary policy on Wednesday, Reserve Bank Governor Raghuram Rajan today said he sees banks passing on the benefit of lower rates regime to customers shortly. In yet another surprise move, the RBI on Wednesday reduced the repo rate...
  • Excessively strong rupee undesirable: Raghuram Rajan March 4, 2015

    Mumbai: RBI Governor Raghuram Rajan on Wednesday said that the "excessively strong rupee" is undesirable as it triggers disinflationary pressures. "The rupee has remained strong relative to peer countries. While an excessively strong rupee is undesirable, it too creates disinflationary impulses," Rajan said in a statement announcing cut in interest...
  • Raghuram Rajan went by majority opinion of advisors on RBI policy rate February 25, 2015

    Mumbai: RBI Governor Raghuram Rajan went by the majority suggestion of the central bank's external advisors to wait for signals from the Union Budget before reducing key interest rate, although three of the seven members were for a cut of 25-75 basis point. In the 6th...
  • RBI warns banks against making 'mockery' of its lending operations February 20, 2015

    Mumbai: The Reserve Bank of India (RBI) is getting tougher on extending unlimited credit to the country's banks to try to ensure they push interest rate cuts through the financial system and to stop them from making what one official called a "mockery" of its operations. India's commercial banks readily borrow...
  • RBI to soon put one rupee notes in circulation again February 14, 2015

    Mumbai: After a gap of about two decades, the RBI will again put in circulation rupee one notes soon. Printing of one rupee note was discontinued about 20 years ago. "These currency notes are legal tender as provided in the Coinage Act 2011. The existing currency notes in this denomination...
  • Trick or treat? India's strong GDP figures mask economic reality February 11, 2015

    Mumbai: For business, the government and the Reserve Bank of India, data revisions that have transformed India's $2.1 trillion economy into one of the world's fastest growing are too good to be true. Now, the search is on for reliable indicators of underlying activity, vital for Finance Minister Arun Jaitley as...
  • Raghuram Rajan for raising tax exemption limit from Rs 1.5 lakh February 4, 2015

    Mumbai: Days ahead of the Budget, Reserve Bank Governor Raghuram Rajan on Wednesday pitched for increasing the tax exemption limit on financial investments by individuals from Rs 1.5 lakh a year. Acknowledging that there was a Rs 50,000 increase in the limit in the last budget to Rs 1.5 lakh...
  • Inflation still a concern, says Raghuram Rajan February 4, 2015

    Mumbai: A day after keeping interest rates unchanged, RBI Governor Raghuram Rajan on said inflation is still a concern for the central bank and the monetary policy continues being "conventional". "We still have concerns over inflation. So, given the deflationary environment elsewhere, it is actually easier for us because we...
  • RBI Governor Raghuram Rajan keeps repo rates unchanged in the policy review February 3, 2015

    RBI Governor Raghuram Rajan has kept repo rates unchanged in the policy review. RBI says GDP growth is likely to rise to 6.5 per cent by 2016. Inflation will be at 6 per cent by January 2016. Sources say RBI may choose to announce a rate cut only after budget...
  • India expected to keep interest rates steady until after budget February 3, 2015

    Mumbai: Having cut its policy interest rate just three weeks ago, the Reserve Bank of India (RBI) is expected to hold rates steady at a policy review on Tuesday, leaving its next move until after the government presents its annual budget at the end of this month. The timing of the...
  • 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...