Reserve Bank of India (RBI)
RBI policy document pushes CCIL closer to QCCP status
Indian central bank takes explicit responsibility for supervising the Mumbai-based clearing house
Raghuram Rajan picked as RBI governor
Former IMF chief economist credited with seeing the financial crisis before it happened chosen by Indian government to head the country's central bank; appointment hailed as an 'excellent choice'
India in search for new RBI governor as Subbarao set to leave in September
Duvvuri Subbarao will leave the RBI this year after five years at the top; no clear favourite as yet to replace him, as three external candidates attract speculation
RBI governor champions ‘logically robust' financial regulation
Duvvuri Subbarao says financial markets stand out because they are not self-correcting, and because financial firms are highly leveraged and uniquely interconnected
RBI deputy says improved governance standards ‘holy grail' in fight against fraud
While the number of reported frauds in India is coming down, the amount is growing as large-value, advance-related frauds are becoming increasingly common, notes Kamalesh Chandra Chakrabarty
RBI 'forfeiting monetary policy discretion' in bid to keep rupee in check
Governor Duvvuri Subbarao says India is caught in an 'impossible' trilemma, forcing the bank to maintain rates in spite of sluggish growth and ebbing inflation
Consumers' inferior bargain position ‘largest issue to be tackled'
RBI's Deepali Pant Joshi says financial crisis had ‘highlighted the importance of financial consumer protection for the long-term stability of the global financial system'
Reserve Bank of India currency measures may have limited impact on rupee
Moves to halt falling rupee may have unintended consequences, according to rating agencies; volatility is expected to continue
RBI deputy sets out Reserve Bank strategies to fund urban infrastructure development
Reserve Bank is tweaking regulation to ensure finance can get through to urban infrastructure projects; urbanisation is ‘an important determinant of national economic growth and poverty reduction'
EM central banks should take cue from ‘the best in the world', says RBI governor
Duvvuri Subbarao also highlights the historical differences in mandates between EM and advanced economy central banks
Reserve Bank of India announces measures to bolster weakening rupee
In tightening move, RBI raises its Marginal Standing Facility rate to 10.25% with 'immediate effect'; currency value rebound is expected to be short-lived
Asian integration is still ‘incomplete’, says RBI exec director
G Padmanabhan says regional integration of Asian finanical markets has some way to go, and creation of an EU-style body remains ‘far-fetched’
India issues inflation-indexed bonds to curb gold imports
India's debut issuance of inflation-linked bonds four times over-subscribed despite the launch coming as wholesale price inflation has tapered off; could be credit negative for India
Subbarao criticises plans to expand powers of regulatory supergroup
Reserve Bank of India governor Duvvuri Subbarao speaks out against plans to give Financial Stability and Development Council responsibility for regulating systemic risk
RBI ‘reluctant’ to apply for Esma recognition under current rules
Indian reticence over Emir steps up pressure on EC equivalency regime
RBI targeting 'greater internationalisation' of rupee
Reserve Bank of India executive director Padmanabhan says currency is a ‘natural candidate’ for internationalisation; aims for ‘careful and gradual’ progress
RBI executive director sees emerging threats to Indian banking
Deepak Mohanty warns of problems on the horizon, including deteriorating asset quality, high interest margins and the need to build capital buffers
RBI’s Chakrabarty fleshes out plans for risk-based supervision in India
Deputy governor examines pre-requisites for effective risk-based supervision as central bank prepares ‘phased migration’ to the new approach
RBI governor finds ‘a lot of scope for improvement’ in IMF advice
Duvvuri Subbarao examines performance of the IMF since the financial crisis, and finds the Fund wanting in a number of areas
RBI paper scrutinises monetary policy transmission
Research analyses strength of monetary policy transmission in range of Indian financial markets; says it is conducted most effectively to money markets but has ‘limited’ influence on stock markets
RBI sees scope for Giro payments system
Committee finds India’s existing payments system fails to meet consumers’ needs when paying bills; proposes a supplementary system to move bill paying onto a single interoperable platform
RBI cuts interest rate, while eyeing lower inflation
The Reserve Bank of India reduces benchmark interest rate for third time in 2013 to 7%; says there is ‘little space’ for further easing
RBI’s Subbarao weighs merits of new consensus on capital controls
Duvvuri Subbarao says financial crisis shattered consensus view that capital controls should not be used, but deploying them correctly is still far from straightforward
RBI executive director discusses challenges in sustainable housing finance
Deepak Mohanty examines how best to extend housing finance in India, against the backdrop of multiple financial crises caused by unsustainable mortgage growth