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, 5 days ago
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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 week 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, 3 weeks ago Fantastic experience as RBI Governor: Rajan Rediff.com, 2 weeks ago The real reason behind Rajan's exit Rediff.com, 1 month ago No extension for Rajan: Very wrong decision but RBI won't suffer Rediff.com, 2 months ago
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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, 1 month ago CAG seeks auditing of regulators like RBI 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, 1 month ago
Sooner the government finalises its choice, the better it will be for ensuring stability in the country’s financial system. With the Reserve Bank of India Governor Raghuram Rajan announcing his decision to return to academia at the end of his current tenure in September this year, the government must now get down to the important task of finding his successor without any delay. The global economic situation is not too stable. Though the markets in India have taken in their stride the ...Rediff.com, 2 months ago
This is the first time in the RBI’s history that a governor is leaving without willing to renew his contract Barely a few days after expressing his interest to go back to academia in the long term, Raghuram Rajan has walked the talk. Putting an end to all the speculation about his continuance in the central bank, the Reserve Bank of India (RBI) Governor on Saturday said he would not seek an extension of his three-year that ends on September 4, 2016. Instead, he said in a letter to ...Rediff.com, 2 months ago
Reducing policy rates is not enough. The key is to ensure banks lend to credit-constrained borrowers, says Abheek Barua. If there is a single blot on the otherwise unblemished track record of Reserve Bank of India (RBI) Governor Raghuram Rajan, it would be his inability to ensure smooth “transmission” of RBI’s policy signals to actual lending rates in the economy. While the central bank has lowered the signal repo rate by one-and-a-half percentage points, banks have ...Rediff.com, 2 days ago 5 key expectations from Rajan's last monetary policy Rediff.com, 2 weeks ago Rajan may opt for status quo on rate Rediff.com, 3 weeks ago
The RBI governor-designate may be economical with spoken words, but is known for his sharp and critical writings “Known unknown” is an integral part of central banking lingo. Urjit Patel’s public persona fits the category perfectly. In the three years-plus that he has been a deputy governor at the Reserve Bank of India (RBI), not many know about his views on matters outside monetary policy and inflation. And in that too, Patel has always remained economical with his ...Rediff.com, 6 days ago Meet Urjit Patel, RBI's 24th Governor Rediff.com, 1 week ago We did not abuse RBI governors: Chidambaram Rediff.com, 1 month ago Gokarn, Patel, Mohan: Who will be the next RBI chief? Rediff.com, 1 month ago
Urjit Patel as the new RBI governor whose focus is on taming inflation has lowered the probability of interest rate cut soon Markets ended lower on Monday after the appointment of Urjit Patel as the new governor of India's central bank whose focus is on taming inflation has lowered the probability of an interest rate cut soon. The S&P BSE Sensex ended down 91 points at 27,986 and the Nifty50 slipped 38 points to settle at 8,629. In the broader market, the BSE Midcap and Smallcap indices ...Rediff.com, 6 days ago New RBI governor is not in a hurry to slash rates Rediff.com, 6 days ago
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