India
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
Sri Lanka seeks return of money offered at Indian shrines
Sri Lankan central bank seeks to repatriate estimated 20 tonnes of coins offered as part of religious worship in India
Brics nations launch development bank and reserve fund
Brazil, Russia, India, China and South Africa launch new institutions to fill the gaps left by the World Bank and IMF; Observers see challenges ahead
RBI sees case for reviewing governance of public sector banks
Public sector banks continue to pose some of the ‘major challenges' facing the banking sectors, the Reserve Bank of India says
RBI hiring 53 sportspeople out of civic duty
Reserve Bank of India is looking to recruit people from a host of sporting backgrounds, including cricket and table tennis, to working in support roles at the central bank
Rajan: RBI ‘could give up’ some powers
Reserve Bank of India should retain its regulatory powers, Rajan says, but it could cede part of its debt management role to the government ‘without any loss in welfare’
Rajan 'cognisant' of state financing needs as RBI loosens credit restraints
Reserve Bank of India holds key rate at 8% despite spike in food prices; takes steps towards creating a ‘more generalised provision of system liquidity’
Rajan predicts ‘revolution’ in banking industry
The Indian banking sector is ‘on the cusp of revolutionary change’ as new developments and growing competition are breaking down the ‘grand bargains’ that once dictated its structure
RBI deputy reviews Indian macro-prudential experience
Kamalesh Chakrabarty evaluates India’s experience with macro-prudential policy and considers how central banks can build analytical frameworks to guide their oversight
India reverses curbs on USD/INR trading
India's financial regulator has rolled back emergency measures it introduced last year as USD/INR rate stabilises
RBI holds rates as inflation follows ‘glide path’
Central bank holds key rate at 8% as tighter policy works its way through the economy; household inflation expectations continue to fall
RBI director criticises ‘poor’ cooperative governance
Deepali Pant Joshi attributes cooperative banks' deteriorating health to poor governance and operational inefficiencies
Rajan sets out five-point plan to tackle food inflation
Reserve Bank of India governor says monetary policy can help control food inflation, but insists the government 'has an important role to play'
RBI and IMF clash over pace of tightening
Staff report from the International Monetary Fund calls for ‘significant increases’ in policy rates, but the central bank is reluctant to cut off the economic recovery
Rajan looks to mobile banking for financial inclusion
Reserve Bank of India governor says that India is not ‘where it should be’ on mobile payments and calls on telecom firms to help drive the proliferation of cheap and safe payments
RBI paper explores quality of Indian banks’ assets
Researcher acknowledges that asset quality has suffered in the wake of the crisis, but is convinced that banks’ balance sheets are ‘not alarming at the current juncture’
RBI’s Joshi calls for ‘revamped’ bank structures
Deepali Pant Joshi tells Indian banks to enhance their financial inclusion efforts by hiring a ‘separate cadre of staff’ to provide banking services to far-flung rural areas
RBI rate hike is first step on ‘glide path’
Raghuram Rajan says the Urjit Patel committee has outlined an ‘appropriate’ path for reducing inflation, but insists today’s rate hike does not signal the adoption of a formal inflation target
RBI director discusses management of 2013 capital outflows
High and unstable capital flows can lead to macro and financial stability concerns. But managing capital flows to minimise such concerns has costs too, says Deepak Mohanty
Emerging Asia must reform to keep growing, says IMF research
China and India have recently exhibited a decline in total factor production growth; demographic factors will be more supportive in India and some Asean economies than in China
RBI’s Mohanty lays out approach to rising food prices
The Reserve Bank of India will have to perform 'a careful balancing act' if it steps in to mitigate rising food prices, says executive director Deepak Mohanty