Brewing for over a year, now the rift between RBI and government seems to have reached to the boiling point with an almost complete breakdown in communication. The recent speech by the Deputy Governor of the Reserve Bank of India, Viral Acharya drove further tension in the already strained relationship[Read More…]
Tag: Urijit Patel
Currency war hovers as threat to India’s growth, says RBI governor Urijit Patel
Mumbai: The Reserve Bank of India on Wednesday said that the possibility of global protectionist measures culminating into currency wars can hamper India’s growth prospects. We already had a few months of turbulence behind us and it looks like that this is likely to continue for how long I don’t know.[Read More…]
Despite fall, GDP will bounce back sharply: RBI Governor
Reserve Bank of India (RBI) Governor Urjit Patel on Friday said India’s economic growth will make a “sharp V” recovery following the recall of old INR 500 and 1,000 currency notes. Patel also made a strong case for continuing with globalisation even in the face of a potential shift to[Read More…]
Reforms should not overlook privacy, customer security: MP Rajeev Chandrasekhar
MP Rajeev Chandrasekhar on Wednesday wrote to the Finance Minister Arun Jaitley and RBI Governor Urjit Patel apprising them of certain key issues that will arise as the Government and RBI move to increasingly to digitize the economy as well as the banking and payments eco-system being transformed. Chandrasekhar welcomed[Read More…]
Monetary policy 2016: RBI cuts repo rate by 25 bps to 6.25%
The Reserve Bank of India (RBI) on Tuesday cut its key lending—the repo rate—by 25 basis points to 6.25 percent, as a newly set up panel felt that inflation levels were low enough to reduce loan rates. The decision of the monetary policy committee (MPC), headed by new RBI governor[Read More…]
Financial exclusion: RBI mulls opening door to Islamic finance
The Reserve Bank of India (RBI) has proposed working with the government to introduce interest-free banking to tackle financial exclusion for religious reasons, potentially opening Islamic finance to the largest Muslim minority population in the world. The RBI made the proposal in its annual report last week, as departing central[Read More…]