India
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
Rajan turns attention to 2016 inflation target
Reserve Bank of India holds key rates as headline inflation drops to 7.8%; Rajan says policy will be set to achieve 6% target by January 2016 from this point onwards
RBA bulletin considers Indian inflation measures
Research looks at differences between WPI and CPI, noting that prices have increased at a ‘much faster pace’ in the latter
Dallas Fed president praises India PM Modi
Richard Fisher describes Texas as the ‘crucible of US job creation', noting that without it US would not yet have reached pre-recession employment levels
RBI economist proposes financial conditions index for India
Index aims to provide a snapshot of financial conditions in the country in a bid to provide an early warning of crises and overcome information asymmetry
Global financial system's future hinges on China's willingness to accept emerging India
India's emergence - and China's willingness to tolerate it - will be ‘test of survival' for the global financial system in the coming years, argues Deutsche Bank report
Reserve Bank of India to trial ‘plastic banknotes’
Annual report details plans to run a ‘field trial’ of plastic banknotes by 2015, in addition to several other initiatives aimed at improving the central bank’s cash management
RBI could appoint COO in structural rethink
Board of directors approves the ‘broad contours’ of reform plans that could see the Reserve Bank of India name a chief operating officer
Rajan urges ‘direct cash transfers' to poor people
RBI governor says transfer system would give the poor ‘choice and respect' and break the links between poor public service, patronage and corruption
Rajan: ‘Let’s fight the anti-inflation fight once’
Raghuram Rajan says risks to inflation target have become ‘more balanced’ in recent months, but stresses the need to remain ‘vigilant’ as RBI holds key rate at 8%
Mundra named RBI deputy governor
Reserve Bank of India announces the appointment of Subhash Sheoratan Mundra, formerly head of Bank of Baroda, as deputy governor
RBI executive director says ‘multiple instruments' needed to stem EM capital outflows
Deepak Mohanty says drawdown of forex reserves, monetary tightening, and augmentation of reserves needed to dampen speculative flows