Reserve Bank of India (RBI)
RBI licenses prospective mobile phone bankers
India’s central bank grants provisional licences to 11 companies to run mobile phone-based banking for poorer Indians
RBI paper explores challenges in public debt management
Research identifies a ‘narrow investor base’ as one hurdle and considers how to encourage greater participation from retail investors in the market for government securities
RBI and government reach ‘broad consensus’ on MPC
Raghuram Rajan says the central bank and government have found common ground on the shape of the monetary policy committee; RBI holds rates and nudges down inflation forecast
RBI deputy says big data crucial for banks learning more about customers
Harun Khan warns harnessing big data presents challenges to banks, but it offers a way of achieving a ‘significant competitive advantage’, at seminar on information technology
RBI automates liquidity operations
Central bank launches straight-through processing for three of its liquidity operations, cutting settlement times as part of broader efforts to enhance liquidity management
RBI could see interest rate powers diluted by MPC proposals
Indian government publishes draft law that would establish an MPC dominated by external members; investment bank economist concerned by shortage of potential candidates
RBI deputy says securitisation market is ‘raring to go’
R Gandhi dismisses concerns that Indian regulation of securitisations is too heavy handed, saying there are plenty of opportunities if firms are willing to seize them
IMF paper: Indian monetary policy transmission is improving
Working paper examines credit channel of monetary policy in India, finding ‘significant, albeit slow’ transmission to the real economy and a gradual improvement over the past few years
Rajan suggests IMF as watchdog for unconventional policy
RBI governor says central banks should not discard international responsibilities in favour of domestic mandates; says IMF could police unconventional monetary policy
Belgian central bank embraces responsive design with new website
National Bank of Belgium launches new website with cleaner design and upgrades its statistical database, while wider central banking community look to improve online presence
Proactive regulation could help a billion to access financial services by 2020
RBI’s unique ID decision helps 33 million people gain access to financial services in six months; proactive approach by regulators could help World Bank offer finance to another billion people
RBI gives website a makeover
Content on new site is divided according to the RBI’s different functions; search facilities and social media presence also updated
India to become netting friendly on bankruptcy law reform
Different treatment of public and private banks stymied netting - but this could now change
Lagarde tells emerging markets to prepare for US rate hike
Emerging markets can expect trouble if the Fed raises rates this year, says IMF managing director; BIS research implies economies can harness the benefits of spillovers with the right policy mix
IMF paper sees lower inflation boosting Indian savings
Working paper says a ‘sustained reduction in inflation’ would help create interest rate environment necessary to boost corporate profitability and encourage household savings
RBI delivers second rate cut with inflation racing to target
The Reserve Bank of India surprised markets once again with an unscheduled rate cut of its key rate; analysts say this reduction shows trust in the government to maintain fiscal discipline
RBI gets formal inflation target
Reserve Bank of India tasked with getting inflation below 6% by January and handed a 4% target to chase from then; governor retains sole responsibility for setting monetary policy
RBI director calls for ‘strong law’ against cyber crime
A strong law help increase the confidence of the average person on the street in using technology in financial transactions, argues RBI executive director
RBI official says India corporates need to increase forex hedging
Potential US rate rise puts rupee depreciation back on the table; executive director at RBI raises concern over corporate balance sheets
Rajan says RBI is seeking ways to encourage foreign investment
RBI tightens rules for foreign investors but Rajan says central bank is looking into ways of encouraging desirable FDI flows; rates remain on hold
RBI director cautions against foreign ‘investment tourists’
Financial stability implications of investors leaving India 'at a whiff of trouble' must be kept in mind as the country progresses down path of liberalisation, Padmanabhan says
Rajan catches markets off guard with unscheduled rate cut
Markets get ‘pleasant surprise’ as Reserve Bank of India unveils a rate cut outside its normal policy schedule; analysts predict further cuts to come
Draghi and Rajan strike deal on cooperation
MoU signed on the sidelines in Basel will see ECB and RBI exchange information and cooperate on technical matters, banks announce
The winners of the Central Banking Awards 2015
Raghuram Rajan wins Governor of the Year while Reserve Bank of New Zealand picks up Central Bank of the Year; Jacques de Larosière honoured with Lifetime Achievement Award; 12 more awards announced