After Urjit Patel’s appointment as RBI governor-designate, the bond market witnessed a sell-off, as it became evident that there won’t be any significant change in stance With an average annualised return of 10 per cent, income fund investors have had a couple of good years. However, considering that Consumer Price Index-based inflation is currently closer to the upper end of the Reserve Bank of India’s (RBI’s) target and the new governor is likely to continue to keep a ... Rediff.com, 4 weeks ago
Inflation warrior Urjit Patel at the helm of RBI - Rediff.com, 3 weeks ago
'RBI Governor need not have a rock star status' - Rediff.com, 1 week ago
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The average bank customer does not know about the Customer Charter because it was designed – under Mr Rajan’s regime – to be a lame duck initiative from the start: violating the charter has no consequences, points out, Debashis Basu. The Reserve Bank of India has a wide and complex mandate that ranges from monetary policy to supervising banking and finance companies, managing forex, issuing currency and acting as the banker to banks and the government. As you would ...Rediff.com, 4 weeks ago RBI mulls liability cover in fraud for bank clients Rediff.com, 1 month ago
Janmejaya Sinha lays down Urjit Patel’s agenda - cleaning up bank balance sheets, evaluating robustness of CPI and pushing for digitisation in financial services. The appointment of Urjit Patel as Reserve Bank of India (RBI) governor is an inspired choice. Patel has the strongest monetary economics pedigree, with an MPhil in economics from Oxford and a PhD from Yale. As a PhD student he jointly authored academic papers with his advisor, the respected macroeconomist Prof Willem Buiter, ...Rediff.com, 3 weeks ago
Between Friday’s and Monday’s close: Yields on 10-year bonds up 6 basis points, rupee slides 13 paise against dollar, Sensex ends flat The bond market, having a merry time since July in the hope of a rate cut, woke up to the reality on Monday that Urjit Patel’s appointment as Reserve Bank of India (RBI) governor may have nixed chances of rate support. The yields rose sharply on Monday even as the rupee tumbled, tracking falling stocks and dollar demand from oil marketing ...Rediff.com, 1 month ago
As all regulators are part of it, individuals don’t need to worry about approaching the right authority Recently, the Reserve Bank of India(RBI) launched an online website, Sachet, to curb Ponzi schemes at an early stage, by sourcing information from individuals. A person can go to the website, www.sachet.rbi.org.in, and share information with the regulator if he thinks a company is illegally collecting money. People can also use the website to get detailed information on companies that ...Rediff.com, 1 month ago
Conglomerates can hold only 10% stake; focus on NBFCs not controlled by large groups In what could be Raghuram Rajan’s last banking reform before he bows out in the first week of September, the Reserve Bank of India on Monday released the final guidelines for on-tap licensing of universal banks in the private sector, under which it ring-fenced the banking system from large industrial houses, excluding them from floating banks in the future. But conglomerates have been allowed to hold up ...Rediff.com, 1 month ago
RBI often wrong-footed due to questionable data, says former governor The Reserve Bank of India’s monetary policy decisions often go astray because of erroneous data provided by the government, former governor Duvvuri Subbarao writes in his book to be released on Friday. Stating that the central bank operates within the universe of knowledge available in real time, Subbarao wrote RBI 'is oftentimes wrong-footed because of the questionable quality of data'. As an example, India’s ...Rediff.com, 2 months ago
There is no need for the CAG to second-guess the credit decisions of banks or the RBI’s supervision of them. The comptroller and auditor general has mooted that the Reserve Bank of India should be brought under the audit purview of his department. He has argued that there is a need for this in view of the increasing ill health of the nationalised banks, whose non-performing assets have in the last couple of years gone up sharply while being under the supervision of the RBI. In ...Rediff.com, 2 months ago
Lower inflation, FCNR(B) outflows likely to influence central bank decision A majority of bankers and economists expect the Reserve Bank of India (RBI) to keep key policy rates in hold in its monetary policy review on October 4, according to a Business Standard poll. The central bank might cut rates by at least 25 basis points in its December review, since, by then, a clearer picture would emerge on the inflation as well as the economic growth trends. Top bankers, economists, rating agency ...Rediff.com, 1 day ago
A fall in the rupee could boost exports. But the flip side of the equation is that a weaker rupee could stoke some inflation, says Devangshu Datta. The rupee’s levels present a serious conundrum for the Reserve Bank of India (RBI) and the new Monetary Policy Committee. There are reasons to try and ease the rupee down. However, it might be politically unacceptable to weaken the rupee and difficult to let it slide, in a controlled fashion. India’s trade balance has been deceptively ...Rediff.com, 1 week ago Rupee should weaken, but may not help exports: Experts Rediff.com, 1 week ago
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