India
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 identifies countries that ‘pass through’ spillovers
Individual countries can amplify, absorb or block spillovers, depending on their economic and structural characteristics, researchers at the IMF find
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
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
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
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
Robert Pringle's Viewpoint: The global finance system is in bad need of repair
Muddling through is not enough: neglect of global money can trigger political earthquakes that sweep away any chance of reasonable debate and compromise
RBI's Rajan looks to regional and domestic demand
RBI governor argues India must look to regional and domestic demand for its growth, while still working towards a ‘more open and fair global system’
Rajan sees policy stripped back to signalling function
RBI governor says weak rate transmission has left signalling as the primary channel for monetary policy; rate cut may come ‘outside the policy review cycle’ in early 2015
Rajan faults 'big borrowers' for eroding 'sanctity' of debt contracts in India
RBI governor calls for ‘change in mindset' where the ‘wilful defaulter' is ‘justly chastised as a freeloader' on hardworking people
RBI wants foreign banks to offer commercial services
R Gandhi, deputy governor of the Reserve Bank of India, argues the local economy needs foreign banks to offer commercial services, ‘to ensure further penetration of banking activities’
China, India, among founders of Asian Infrastructure Investment Bank
Twenty-one Asian countries establish a new institution to aid infrastructure development in the region, which will be fully operational by the end of 2015
Rajan overruled external members’ call for rate cut in September
External members on RBI’s technical advisory committee see the case for easing, and the majority voted for a rate cut in September; deputy governor portfolios shaken up
RBI paper: Rural wages main driver of Indian food inflation
Research published by the Reserve Bank of India says it ‘bears to reason’ there is a need to raise agricultural productivity to mitigate food price pressures
RBI deputy targets ‘more vibrant’ FX market
Harun Khan says Indian foreign exchange market has ‘come a long way’, but a number of challenges remain; rupee has stabilised in the past few months