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 weeks ago
'Bureaucratic process for selecting RBI governor is wrong' - Rediff.com, 3 days ago
Rexit 'bad omen' for Indian economy, reputation abroad: Experts - Rediff.com, 1 month 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, 2 weeks ago CAG seeks auditing of regulators like RBI Rediff.com, 3 weeks ago
The Centre has messed it up with Rajan’s resignation. But the RBI is too independent to kowtow to New Delhi, notes Omkar Goswami I have a corporate friend who, more than many, knows how the Bharatiya Janata Party and the Rashtriya Swayamsevak Sangh actually work. His forecasts have been unerringly true. A month ago, he told me that the Reserve Bank of India governor wouldn’t get an extension, to which I had naïvely exclaimed, “That would be stupid! Narendra Modi ...Rediff.com, 1 month ago Rajan's 'resignation' letter to RBI staff Rediff.com, 1 month ago Should Rajan Get an Extension? Equitymaster.com, 1 month ago RBI chief Rajan wins over Modi despite broad mistrust 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, 1 month 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, 1 month ago
It is the Prime Minister and the Finance Minister’s prerogative on how they want the appointment process to be. The government has left unclear the mandate of the selection committee which has been tasked to recommend names for top posts at regulatory bodies The government has left unclear the mandate of the selection committee which has been tasked to recommend names for top posts at regulatory bodies. This gains importance in the backdrop of mounting speculation on a second term ...Rediff.com, 1 month ago
'Any sharp slowdown in China, the movement of the US dollar and the market’s reaction to any rate hike by the US Fed would have an impact on global sentiments towards equity.' In the next few weeks, analysts will eye the outcome of the Reserve Bank of India’s monetary policy review, the possibility of a rate increase by the US Federal Reserve and chances of Britain exiting the European Union. Anoop Bhaskar, below, left, head of equities and fund management at IDFC Asset ...Rediff.com, 1 month ago
To cut interest rates, the central bank head has to open up a debate on inflation target revision, says Abheek Barua. There has been much confusing reportage in the pink papers as to who the next Reserve Bank of India (RBI) governor will be. The names of a couple of bankers have popped up though the reporters would have had us believe that the government would prefer an economist at the helm. They also seem to have assumed the fact that the successor (perhaps barring one on their list) ...Rediff.com, 18 hours ago
“We did not abuse RBI governors. We did not let loose people to abuse them and we never forced them to say that they will not seek a second term," says former finance minister Chidambaram. IMAGE: Former finance Minister Chidambaram with RBI Governor Raghuram Rajan. Photograph: Reuters Taking a jibe at the way the Narendra Modi government handled the vicious criticism of Reserve Bank of India (RBI) Governor Raghuram Rajan by a member of the ruling Bharatiya Janata ...Rediff.com, 1 week ago
Last week, the reserves had surged by $2.374 billion to $363.171 billion. India’s foreign exchange reserves declined by $1.228 billion to $361.943 billion in the week to July 8 due to a fall in foreign currency assets, the Reserve Bank said on Friday. Last week, the reserves had surged by $2.374 billion to $363.171 billion. Foreign currency assets (FCAs), a major component of the overall reserves, declined by $1.218 billion to $337.493 billion in the reporting week, RBI data showed. FCAs, ...Rediff.com, 2 weeks ago India's forex reserves up $2.37 bn at $363.17 bn Rediff.com, 3 weeks ago
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