Subbarao

  • Raghuram Rajan: RBI's new face is also its hottest September 17, 2013

    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...
  • New RBI chief says economy strong, needs to build a bridge to the future September 4, 2013

    New Delhi: Immediately after assuming office, the new Governor of the Reserve Bank of India, Raghuram Rajan, said on Wednesday that the country's economy was "fundamentally sound" and had a "bright future" in his first remarks at the central bank earlier in the day. "These are not easy times, and the...
  • RBI governor Raghuram Rajan's new proposals September 4, 2013

    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 to strengthen monetary policy...
  • Raghuram Rajan takes over as RBI governor, raises hopes with his plan September 4, 2013

    New Delhi: New Reserve Bank of India (RBI) chief Raghuram Rajan kicked-off his term with a bang, announcing a spate of measures to support the embattled rupee and unveiling a raft of steps to liberalise financial markets and the banking sector. In an unexpectedly detailed and wide-ranging briefing, Rajan outlined...
  • New RBI governor Raghuram Rajan steps into the heart of the rupee storm September 4, 2013

    Raghuram Rajan, a suave, unflappable University of Chicago economist, stepped into the heart of the storm roiling India's economy on Thursday as the Reserve Bank of India's new governor and chief defender of a nose-diving rupee. The currency has plunged nearly 20 per cent since May as Asia's third-largest economy confronts...
  • Raghuram Rajan to take over as RBI Governor on Wednesday September 3, 2013

    Internationally renowned economist Raghuram Rajan will take over as RBI Governor on Wednesday and plunge straight into a fire-fight situation as the country battles a rapid fall in rupee, high inflation, low growth and burgeoning current account deficit (CAD). 50-year-old Rajan, a former chief economist with the International Monetary Fund (IMF)...
  • Chidambaram will one day say 'Thank God RBI exists': Subbarao August 30, 2013

    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, Subbarao...
  • Slowdown in growth due to governance issues: Subbarao August 29, 2013

    In his last speech before retiring, Subbarao said that the slowdown in growth was not due to the RBI's tight monetary policy but due to governance issues. ...
  • RBI Governor blames UPA govt's 'loose fiscal stance' for the current economic woes August 29, 2013

    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 timing...
  • RBI to issue new Rs 5 coins to mark 150th birth anniversary of Vivekananda August 29, 2013

    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 release. RBI...
  • D Subbarao cautions against creating 'too-large-to-fail bank' August 13, 2013

    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 crisis,...
  • Subbarao faced hostile political environment: AK Bhattacharya August 7, 2013

    Has the outgoing RBI Governor's tenure been beneficial for India? There are allegations that he stifled growth in his zeal to contain inflation? Or was it the only way to address the widening Current Account Deficit? Business Standard's editor AK Bhattacharya joined IBNLive readers for an interaction on the issue. Q....
  • Bhopal's Raghuram Rajan becomes new RBI Governor August 7, 2013

    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 take over at...
  • RBI chief Raghuram Rajan: The young, outspoken former IMF heavyweight September 4, 2013

    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 take...
  • Raghuram Rajan takes charge as RBI Governor for 3 years August 6, 2013

    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 appointment...
  • RBI to rollback steps after stabilisation of forex market August 2, 2013

    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 Governor...
  • Food Security plan to put pressure on growth, inflation: RBI July 31, 2013

    The UPA Government's proposed Food Security Bill carries a slew of "economic consequences", including pressures on fiscal deficit, growth and inflation, Reserve Bank Governor D Subbarao said on Tuesday. "There are going to be lots of economic consequences of the Food Security Bill (FSB), which at the RBI, we will...
  • RBI hints at status quo, will focus on stabilising rupee July 29, 2013

    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 is...
  • RBI chief Subbarao says he has not been offered job extension so far July 20, 2013

    Moscow: Reserve Bank of India (RBI) Governor Duvvuri Subbarao said on Saturday he has not yet been offered to stay on in his job after his five-year term comes to an end in September. "No offer has been made so far, so there is no question of accepting so far. It...
  • RBI announces fresh steps to tackle rupee volatility July 15, 2013

    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 the...
  • No meeting scheduled between PM, RBI chief: PM spokesman July 15, 2013

    New Delhi: There is no meeting scheduled between Prime Minister Manmohan Singh and RBI Governor Duvvuri Subbarao on Monday, a spokesman for the Prime Minister's Office said. Earlier, the organisers of a Mumbai event where Subbarao was expected to deliver a speech on Monday said the Reserve Bank of India governor...
  • RBI chief called for a meeting with FM, PM July 15, 2013

    Mumbai: Reserve Bank of India Governor Duvvuri Subbarao cancelled an appearance at a Mumbai college on Monday because he was called to a meeting with the Finance Minister and Prime Minister, according to the organisers of the event. Subbarao was due to meet with Finance Minister P Chidambaram and Prime Minister...
  • Reserve Bank should transform into knowledge institution July 4, 2013

    Chennai: The Reserve Bank of India (RBI) should transform into a knowledge institution to meet the challenges posed in the changing global economic scenario, said an official. "During the last five years the world has passed through an extraordinary economic crisis. The central banks across the world were blamed for that....
  • Reserve Bank should focus on growth now, says SBI June 8, 2013

    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 June 5, 2013

    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 June 3, 2013

    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 May 30, 2013

    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 have...
  • Retail inflation still high, says RBI chief D Subbarao May 30, 2013

    Ahmedabad: The Reserve Bank of India's Governor Duvvuri Subbarao said on Thursday that retail inflation in India is still high. India's annual consumer price inflation slowed for the second straight month in April to 9.39 per cent, but is still higher than April's headline inflation of 4.89 per cent. ...
  • RBI to consider CAD, macro factors for policy decision May 30, 2013

    Mumbai: The Reserve Bank of India will take into account macro economic factors and "more importantly" the current account deficit for policy decisions, Governor Duvvuri Subbarao said on Thursday. He also said high current account deficit is leading to the rupee weakening. India's current account deficit widened to a record high 6.7...
  • RBI rules out ban on sale of gold coins by banks May 28, 2013

    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 do...