India
RBI standoff ends in compromise after marathon meeting
Nine-hour meeting ends in agreement, but government extracts concessions on key issues
Rajan sees room for disagreement between RBI and government
But former governor says triggering Section 7 would be cause to be “very worried”
Government steps in as RBI row escalates
Governor Patel rumoured to have threatened resignation
Acharya makes pointed defence of RBI’s independence
Governments may “ignite economic fire” if they undermine the central bank, deputy says
RBI fights plan to strip it of payment powers
Central bank fears move would undermine its ability to regulate currency
RBI’s Acharya stresses need for ‘prompt corrective action’
Tool allows supervisors to intervene early and should discipline bank managers, deputy says
RBI holds policy rate steady despite growing imbalances
Rupee is under pressure and current account deficit widening, but inflation risks are still limited
RBI steps in to tackle liquidity crunch
Central bank steps up market operations as financial markets wobble
RBI’s Patel stresses value of ‘preventive vigilance’
Good outcomes more likely when actions subject to scrutiny, governor says
RBI prepared to step in as non-banks suffer liquidity shortage
Government and regulators stress readiness to act amid non-bank liquidity pressures
RBI’s Kanungo warns on fiscal imbalances
State governments have borrowed heavily, making the RBI’s job harder, the deputy says
RBI figures show demonetisation captured very little ‘black money’
Over 99% of banknotes were returned despite high cost to the economy
Policies must change to stop emerging markets crisis, analysts say
Tariffs, Fed policy and renminbi devaluation are stressing weaker currencies, say observers
Rupee falls to record low as instability hits emerging markets
Indian currency falls to 70 against the US dollar for the first time
IMF backs RBI’s Patel in call for full oversight powers
Fund urges Indian authorities to grant the central bank full powers over public sector banks
Right-wing commentator appointed to RBI board
Swaminathan Gurumurthy has been critical of the RBI in the past
RBI makes fresh rate hike as inflation pressure persists
Central bank faces rising food and oil prices, while growth remains rapid
Indian researchers use Google searches to overcome lack of data
RBI paper examined Google Trends to study growth in the Indian housing market
People: new RBI deputy; Ingves to chair Toronto Centre
ECB appoints director general of micro-prudential supervision; HKMA has new executive director of financial infrastructure; Liberia appoints new board
RBI pledges to create public credit register
Existing system is fragmented, making it hard to accurately assess a borrower’s credit history
Singapore and India launch fintech co-operation scheme
The countries plan to establish real-time payments links
India needs new payments ‘vision’ – Kanungo
RBI deputy governor calls for debate on several innovative areas for Indian payments
New risks and opportunities
Central Banking convened a panel of experts to discuss how central banks and other authorities are making use of new risk-based assessment techniques to remain ahead of the fintech curve.
Book notes: I do what I do, by Raghuram Rajan
This collection of speeches and commentary sheds light on how the ‘rockstar’ central banker operated, but it reveals little in the more controversial areas of Rajan’s governorship