US TREASURY

  • India's policy on foreign banks soon, says Raghuram Rajan October 13, 2013

    The Reserve Bank of India (RBI) will soon come out with new rules for the entry of foreign banks that may even allow them to take over Indian banks, RBI Governor Raghuram Rajan has said. "That is going to be a big big opening because one could even contemplate taking over...
  • US imposes new sanctions on North Korean bank March 12, 2013

    New York: The US Treasury has imposed sanctions against North Korea's Foreign Trade Bank, the country's main foreign exchange institution, for its role in supporting Pyongyang's nuclear weapons program, President Barack Obama's national security adviser said. In a speech to the Asia Society in New York, the White House aide, Tom...
  • India's reform measures very significant: US Treasury Secy October 9, 2012

    New Delhi: India's recent reform measures are "very significant" and will fuel private investment in the economy, US Treasury Secretary Timothy Geithner said during a visit to New Delhi on Tuesday. India has announced a series of measures, including raising the price of subsidised fuel and opening the retail sector to...
  • US seeing high levels of poverty and inequality: Geithner January 27, 2012

    Davos: In a candid admission of the problems plaguing the world's largest economy, US Treasury Secretary Timothy Geithner said on Friday the country was seeing "very high levels of poverty and inequality". Geithner's comments at the World Economic Forum (WEF) annual meeting in Davos came on a day when the US...
  • China a 'formidable challenge to global trading' January 27, 2012

    Davos: China is keeping its currency below its fair value and it represents a "formidable challenge" to the global trading system, US Treasury Secretary Timothy Geithner said on Friday. Sharply criticising the Communist giant's stateled economic system, Geithner said, "China does represent a really unique and formidable challenge to the...
  • India faces $41 billion exposure to US debt August 7, 2011

    New Delhi: As one of the 15largest foreign creditors to the US, India's exposure to the United States' ballooning debts is estimated at $41 billion, higher than the money America owes to countries like France and Australia. The overall national debt of the US is moving nearer to $15 trillion, out...
  • US likely to lose top rating, economists say July 28, 2011

    Washington: The United States will lose its topnotch AAA credit rating from at least one major rating agency, according to a Reuters poll that also found wrangling over the debt ceiling has already damaged the economy. A small majority of economists, 30 out of 53 surveyed over the past two days...
  • India needs new reforms for growth: US June 28, 2011

    Washington: As inflation hits double digits here's a warning coming from US Treasury Secretary Timothy Geithner. Geithner says India has outgrown its financial system and needs reforms to be able to continue with fastpaced growth. Observing that India and the US are at the threshold of unlocking the great potential...
  • US inflation hits 2.5 year high, seen peaking May 14, 2011

    Washington: Gasoline and food prices hoisted US inflation to a 2.5 year high in April, but there was little sign of a broader pickup in consumer prices that would trouble the Federal Reserve. The pace of food and fuel price rises slowed considerably from March, suggesting inflation pressures may be peaking....
  • Indian American to oversee $700bn US bailout plan October 7, 2008

    Washington: As the global market plunged, US Treasury Secretary on Monday designated an Indian American to head the key Office of Financial Stability, the bureau that will oversee the $ 700bn bailout package. Treasury Secretary Paulson designated Neel Kashkari, an Indian American with roots in Jammu and Kashmir, as the Interim...