Reserve Bank of India (RBI)
People: New deputy for Norges Bank; deputies depart in India and Kyrgyzstan
Jon Nicolaisen will start a six-year term as deputy governor of Norges Bank on April 1; RBI's Chakrabarty steps aside early; and more
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
Turkey and South Africa shock markets with interest rate hikes
South Africa and Turkey join India in raising rates in the face of persistent inflationary pressures and sharp currency devaluations, ahead of the FOMC decision later today
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 report recommends inflation target under new monetary policy framework
Committee set up by Raghuram Rajan in September calls for formal nominal inflation target of 4% to be phased in over two years; also recommends sweeping changes to bank's organisational structure
People: Malta gets second deputy; Lautenschläger aces European Parliament test
Central Bank of Malta gets second deputy governor for first time; Lautenschläger wins overwhelming majority in European Parliament vote; and more
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
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
Commodity price inflation caused by 'financialisation', RBI paper finds
Research also shows private liquidity is inflationary while official liquidity is not and and that derivative traders, active and passive, have played an important role in inflation dynamics
RBI committee wants a bank account for every adult by 2016
A report on financial inclusion released by the Reserve Bank of India calls for all residents to have a universal bank account, and an electronic payment point within a 15-minute walk
RBI's Mohanty reviews policy through crisis years
India's central bank joined its counterparts around the world in using unconventional monetary policy to tackle the financial crisis, and the effects of Fed taper
Rajan outlines medium-term 'pillars' for improving India's financial system
The five pillars comprise a 'clarified' monetary policy framework and a more liquid sovereign bond market; nation would 'benefit enormously' from the elimination of 'poorly targeted' subsidies
India's counter-cyclical buffer proposals a 'tax on banks'
Government-linked think-tank claims India's counter-cyclical buffer focuses too narrowly on banks, and fails to address real issues in the country's finance system
RBI's Joshi on the bank's wide-ranging strategies to raise financial awareness
RBI executive director says strategy is to raise financial literacy through initiatives like outreach visits and financial literacy centres, but also through 'comic books, plays and skits'
RBI consults on treatment of domestic systemically important banks
Reserve Bank of India releases proposals for identifying domestic systemically important banks and increasing their capital requirements; state-owned banks may need capital injections
People: IMF poaches ADB chief economist; BNP's Gary Smith makes switch to MassMutual
Changyong Rhee takes over from Anoop Singh in IMF’s Asian and Pacific department; Gary Smith joins Massachusetts Mutual; former RBI chief general manager joins commercial bank board
China and India take divergent paths in liquidity management debate
People's Bank of China is targeting liquidity injections through a standing facility, while the Reserve Bank of India is reducing the amount available to banks through its equivalent funding window
Has the global financial crisis dented central bank independence?
Grace Koshie looks at the post-crisis role of central banks, examining issues of fiscal dominance and weaker policy freedom in an increasingly inter-connected world demanding ever-greater transparency
RBI's independence under threat, says former chief general manager
Grace Koshie says proposed changes could give the government greater involvement in the Reserve Bank of India’s operational areas; warns other central banks' legal independence is being ‘altered’
RBI tries to persuade foreign banks to put down roots
Revamped framework unveiled by India's central bank yesterday will make it easier for foreign lenders currently operating through branches to set up wholly owned subsidiaries in the country