India
RBI's Jalan hails India's monetary policy
Despite drought and the global economic slowdown India's economy remains fast growing with its monetary liberalisation policy being adopted by other nations in the Asian region, Reserve Bank of India Governor Bimal Jalan said, according to a report by…
Speculation RBI's Jalan will leave c bank early
Reserve Bank of India governor Bimal Jalan's may depart from the RBI before the end of his tenure, Rediff.com reports. Speculation surrounds his possible successor, with former deputy governor Y Venugopal Reddy mentioned as a possible candidate.
KJ Udeshi named RBI's first woman deputy governor
The Reserve Bank of India has appointed Ms KJ Udeshi as a deputy governor. She becomes the first woman to hold the post of deputy governor and replaces GP Muniappan who retired on May 31.
Forex reserves to record highs in India, Pakistan
Forex reserves in India and Pakistan have reached record highs this week, Business Line, India, reports.
RBI defends certain coins as legal tender
The Reserve Bank of India made a statement following rumours that some coins had ceased to be legal tender, the Economic Times reports. Contrary to certain media reports, the central bank said, coins of 5, 10 and 20 paisa can still be used.
Indian gov't considering fourth RBI dep governor
A fourth deputy governor's position could be created at the Reserve Bank of India. According to Business Standard, a senior finance ministry official said the position would carry the responsibility of regulating co-operative banks.
RBI to recall 15% of notes
According to central bank sources quoted by Reuters, the Reserve Bank of India plans to take up to 15% of banknotes out of circulation as part of its clean note policy
Gold may sustain highs over 2003
Research from Macquarie Research Equities argues that gold will maintain its strength throughout 2003, supported not only be war fears, but wider geopolitical worries.
RBI issues risk management guidelines
In its guidelines on country risk management, the Reserve Bank of India has asked banks to address issues of identifying, measuring, monitoring and controlling country exposure risks in their country risk management policies.
What role for inflation targeting?
ARTICLE - Former executive director of the Reserve Bank of India, A. Vasudevan, asks whether inflation targeting or multiple objective targeting should be of concern only to central banks. He argues that, generally speaking, monetary policy needs to be…
RBI installs cutting-edge currency machines
The Reserve Bank of India (RBI) governor Bimal Jalan on Wednesday inaugurated the currency verification and processing system (CVPS) in RBI's Mumbai office. The system is part of the central bank's drive to weed out currency notes and replace them with…
Indian banks in a fix over 'no staples' policy
The Reserve Bank of India's recent decision to do away with stapling of new currency notes to increase the longevity of the notes has come under fire.
Indian bank unveils first mobile ATM
ICICI Bank has taken technology one step further with the launch of its first mobile automated teller machine (ATM). The bank has got the Reserve Bank of India (RBI) approval for the mobile ATM in Punjab. "We have also applied for mobile branch licences…
Central banking in emerging economies
BOOK - Dr A. Vasudevan's book on Central Banking in Emerging Economies gives insights into the operation of central banking, which are useful for the analysis of economic policy. The review calls the book a useful addition to the library of any economist…
G20 countries disagree on debt defaults
Last weekends meeting of Group of 20 central bank governors and finance ministers from rich and developing nations failed to make much progress as differing views on how best to resolve emerging market debt defaults divided delegates.
Bimal Jalan downplays fears of financial crisis
Saturday saw the governor of the Reserve Bank of India, Dr Bimal Jalan play down any threat of a domestic financial crisis. He reassured people that macro-economic indicators of the Indian economy were strong with low inflation, reasonably good growth…
'Effective micro-finance system needed' in India
INDIA - The Reserve Bank of India has said it plans to put in place a 'more vibrant' micro-finance delivery environment by encouraging complementary and competitive models of micro-finance.
Indian banks cautioned on risks in e-banking
INDIA - The Reserve Bank of India has cautioned Indian banks about the inherent risk factors that accompany the introduction of high-tech electronic delivery system in the banking sector.
Risk-profile onus falls on India's banks
INDIA - The RBI has rolled out Risk Based Supervision (RBS) for banks. The central bank has sent a template of prudential norms to all banks to independently measure their prudential status.
Indian banks to take up forward trading in gold
INDIA - In what is seen as a possible first step in opening up the Indian bullion market, all scheduled commercial banks authorised to deal in gold have been permitted to enter into forward contracts with their constituents (exporters of gold products,…
Central bank cuts India growth forecast
INDIA - The Reserve Bank of India, the central bank, on Tuesday cut its forecast for economic growth by one percentage point to 5-5.5 per cent, citing the impact of a devastating drought and weak industrial activity.
Banks can park funds in infrastructure projects
ARTICLE - If the brief for a central bank is to guarantee liquidity in a milieu of low inflation and high forex reserves, the RBI can be said to have done more than its bit. On the supply side, RBI has been able to manage a dipping interest regime over…
RBI forms panel to review WMA scheme
INDIA - The Reserve Bank of India (RBI) will review the ways and means advances (WMA) scheme for states in its entirety. The central bank has constituted an advisory committee for the purpose under the chairmanship of C Ramachandran, ex-expenditure…
Former RBI head proposed for slot on board
INDIA - Former Governor of the Reserve Bank of India (RBI), Mr S. Venkitaramanan's name has been proposed for appointment as a director of Reliance Industries Ltd (RIL) at the ensuing annual general meeting (AGM) of the company.