Outgoing Reserve Bank Governor Shaktikanta Das said on Tuesday that restoring inflation-growth balance is the most important task ahead of the central bank. Addressing a press conference on his last day as the central bank chief, Das said his successor will have to navigate the changing world order, effectively deal with cyber threats, and focus on harnessing new technologies.
'I think today RBI supervision is much sharper than what it was earlier.'
Financial inclusion has two parameters- access and use of banking services.
Financial inclusion has two aspects- access and use of banking services.
Within days of assuming charge, he faced allegations of having made RBI the finance ministry's extension counter.
"The world is in general equilibrium. A small change in one parameter effects changes in all variables. So Krishna advised: Sukh Dukhe...," Subramanian Swamy tweeted.
Rajan said the process of dialogue with the government did not reach a stage where he could have agreed to stay on
Rajan said too many infra projects do not have forex earnings thus are unable to pay in dollars or yen
Rajan said that even though inflation has breached the 6 per cent mark as against the RBI target of getting it down to 5 per cent by March 2017, the price rise scenario will ebb in future
21 banks have launched United Payments Interface application.
'It is likely the government may opt for an IAS officer.' 'For the government, an IAS officer will be more easy to deal with,' notes A K Bhattacharya.
"Now I get credit for the idea which actually I neither invented nor actually believed in," he said.
While a pick-up in summer monsoon rains in recent weeks is expected to cool food inflation, most analysts don't anticipate another rate cut before a new governor is on the job
Top bankers have hailed the contributions of the outgoing Reserve Bank Governor Duvuuri Subbarao saying he did his best during a tenure that was marked by difficult times for the economy.
Stating that there are strong inter-linkages between banks, NBFCs and other deposit-taking entities, he said for monetary policy to be effective and financial markets to remain stable, they should be regulated by the central bank.
Thanks to Rajan we are an inflation-targeting country now
Even if Modi had wanted Rajan out, the government could have done it with some finesse and tact.
Raghuram Rajan rejected the argument that inflation has come down largely because of "good luck" stemming from low oil prices.