India
RBI starts live operation of RTGS system
After a two-month trial, the Reserve Bank of India on Friday 26 March began live operations of the Real Time Gross Settlement (RTGS) system but only inter-bank transactions are being put through.
RBI dep governor: forex reserves 'not in plenty'
India's foreign exchange reserves, at over $109 billion, are not in plenty, the RBI Deputy Governor, Ms K J Udeshi, said on Friday 19 March.
RBI staff 'are grossly underpaid'
The Reserve Bank of India's Officers Association (RBIOA) has demanded that pay be linked to other central banks, saying a tiger must be compared with a tiger.
India's RTGS launch likely by end of March
The Reserve Bank of India has now proposed "hopefully" to launch its Real Time Gross Settlement System before the end of March.
RBI staff strike over strike ban
Around a million workers of state-run Indian banks including the Reserve Bank of India went on strike Tuesday 24 February to protest against a Supreme Court decision prohibiting government employees from going on strikes.
RBI's Reddy sees better than expected growth
Reserve Bank of India Governor YV Reddy said on Thursday 12 February that he expects Asia's third-largest economy to grow strongly this year and next.
RBI governor to lead market surveillance panel
The Reserve Bank of India has formed a high power committee headed by the governor for integrated market surveillance and alert systems. The committee is to strengthen market supervision and monitoring.
IMF's Krueger says more flexible rupee desirable
Anne Krueger said on Wednesday 21 January that the Indian rupee must be allowed more flexibility and the Reserve Bank of India should intervene less in the currency market.
RBI faces tough issues to resolve the 'trilemma'
This article looks at a school of thought which believes that the Reserve Bank of India has failed to find out an inflexion point for short-term rates. The result, it says, is an unabated inflow of capital and excess of rupee-liquidity in the inter-bank…
RBI's Reddy to discuss growth and inflation
Governor Y.V.Reddy of the Reserve Bank of India said on Tuesday he will present his reassessment of the Indian economy at a trade body's annual meeting on Wednesday.
Reddy on financial sector globalisation in India
Dr Y.V.Reddy, governor of the Reserve bank of India, talks about financial sector globalisation at the Twenty-Fifth Bank Economists' Conference held in Mumbai.
India's foreign exchange reserves top $100 bn
India's foreign exchange reserves broke through the $100 billion mark for the first time, on the back of investment and trade flows and the dollar's weakness against other currencies.
3,491 opt for early retirement at RBI
The Reserve Bank of India's early retirement scheme, which was introduced recently, has attracted 3,491 applications, according to a Rediff report. The scheme closes at the end of December with official sources saying the "RBI introduced the early…
RBI to set up new payment board
The Reserve Bank of India is to set up a board for payment and settlement systems to provide efficient governance and best practices in risk management, reports the Business Standard. This would ensure that all payments and settlements in the country are…
RBI groups call for amendment to RBI Act
The Reserve Bank of India's working group have suggested amendments to the RBI Act (1934), according to The Financial Express. The group suggested flotation of interest-bearing deposits as an option, whereby the central bank pays interest on deposits…
RBI forms finance advisory panel
The Reserve Bank of India has appointed an advisory committee on financial regulation which will be lead by deputy governor K. J. Udeshi, according to a report by PTI. The committee will meet once every two months to review the current regulatory regime…
Is the Reserve Bank of India overstaffed?
India is a country well known for its huge population. But this article in Business Standard asks whether the Reserve Bank of India is itself overpopulated. The lower-rung jobs that form the bulk of its strength can be significantly cut down, it says.
Confidence, inflation targets improved says Reddy
Reserve Bank of India governor YV Reddy said on 10 November that the brighter outlook for the global economy increased confidence that India would hit its growth and inflation targets, Reuters reported.
RBI likely to signal new settlement system plan
Private sector bankers said on Tuesday 28 October that they believed the Reserve Bank of India was about to announce a plan to install a real-time gross settlement system for the entire financial sector by January, according to a report by Reuters. The…
RBI's autonomy is a myth, Jalan tells industry
Former governor of the Reserve Bank of India, Bimal Jalan, has said that the "RBI is, really, responsible to Parliament through the government," according to the Economic Times, and that while he is all in favour of so called autonomy, this can only work…
Interview with BIS General Manager Malcolm Knight
In an interview conducted on 25 September, Bank for International Settlements general manager Malcolm Knight said "It would be likely that Basel II would assign India a sovereign risk weight of 50 percent instead of the 100 percent it receives under the…
Vepa Kamesam's term at RBI extended by 3 months
Reserve Bank of India deputy governor Vepa Kamesam has been given a second three-month extension to his contract, according to Busines Standard. With this, Kamesam has become the first deputy governor to hold the position beyond the age of 62.
Reserve Bank of India - Annual Report 2002 - 2003
The Reserve Bank of India has published its Annual Report for the year ended 2002 -2003. The Annual Report released 27 August 2003 said cautious optimism characterised the stance of macroeconomic policies during 2002-03, notwithstanding the continuing…
Jalan too
Bimal Jalan, having ceded power at the central bank to the capable hands of YV Reddy, will slip into what will surely be no less lively an occupation. He has now been nominated to the upper house of Parliament (contrasting with Gerashchenko who is to…