Reserve Bank of India (RBI)
RBI’s Sinha says good bank governance should reduce need for intervention
Deputy governor sets out Indian corporate governance requirements; says sound corporate practices and regulation should complement one another, reducing the need for supervisors to intervene
RBI cuts benchmark rate as growth falters
Reserve Bank of India cuts interest rate for second time in 2013; struggling with falling growth rates but rising inflation
RBI paper develops method for estimating counterfeit volumes
Researchers redesign inverse sampling statistical method, aiming to measure extent of counterfeiting in India with ‘credible precision’
RBI’s Subbarao bemoans contradictory demands on central bank
Reserve Bank of India governor says unique Indian growth and inflation dynamics make it impossible to satisfy everyone; deflects criticism over rates being both too high and too low
RBI governor defends 3% inflation target
Duvvuri Subbarao says India’s high inflation in recent years does not represent a ‘new normal’; rejects upping the central bank’s 3% target
People: State Bank of Pakistan’s board overhauled; RBI deputy’s term extended
State Bank of Pakistan receives five new directors; Reserve Bank of India deputy responsible for banking operations extends stay; and more
RBI sees repo market development as necessary to meet Basel liquidity rules
India central bank views repo as an increasingly important market in the wake of Basel III implementation
RBI’s Khan seeks balance between cost and safety in retail payments
Deputy governor hints that CPSS-Iosco Principles for Financial Market Infrastructures may need to be toned down in India to avoid clashing with financial inclusion programmes
World gold demand drops despite increased central bank purchases
Central bank purchases in 2012 reach highest level in 48 years, but Indian contraction leads global demand fall
RBI deputy wants to make banking a 'fundamental right'
Kamalesh Chandra Chakrabarty champions universal access to basic banking services; says banks’ cost structures are incompatible with the ideal
RBI cuts rates and strikes dovish note for 2013
Reserve Bank of India cuts headline interest rate for first time in nine months; governor Duvvuri Subbarao hints more cuts may be on the way
Gold is no inflation hedge, says RBI deputy
Kamalesh Chandra Chakrabarty disputes status of gold as a safe asset or hedge against inflation, arguing that as the gold price increases, so do risks
RBI’s Subbarao justifies greater central bank focus on poverty
Duvvuri Subbarao explains why a move towards greater emphasis on identifying and measuring poverty is important for the Reserve Bank
RBI mulls bank supervision changes in light of IMF report
Indian central bank accepts potential for ‘moral hazard' in supervisory system; IMF report finds regime on the whole ‘well developed and largely in compliance with international standards'
New deputy governor takes office at RBI
Indian government appoints Urjit Patel to replace Subir Gokarn on the Reserve Bank of India’s governing board; management roles reallocated again
RBI seeks to draw retail investors into government securities
Deputy governor Harun Khan says tailoring government securities to retail investors will help cushion volatility created by institutional and international investors
India extends Basel III timetable to let banks raise capital
Decision to push back Basel III implementation motivated by capital concerns, say market sources
RBI’s Padmanabhan sets out plans to disincentivise cheque use
Reserve Bank of India executive director explains efforts to encourage electronic payments, but says improved cheque systems are also being implemented due to high usage
Stiglitz slams ‘unconscionable’ central bank independence
Economist Joseph Stiglitz attacks central bank independence, saying conflicts of interest and recent interventions amounting to fiscal policy are unjustifiable for a non-elected body
RBI report condemns ‘excessive’ gold demand
Reserve Bank of India working group recommends gold imports are reduced to protect the country’s balance of payments and currency reserves
RBI shakes up management roles as deputy departs
Duties of Reserve Bank of India governing board reshuffled as deputy governor Subir Gokarn’s term expires; new executive director appointed
RBI’s Padmanabhan on technology in the financial sector
Reserve Bank of India executive director sets out where technological change has improved financial services and where it still can
RBI’s Sharma urges euro area rebalance
Reserve Bank of India executive director says current account imbalances are ‘inherently unsustainable’; periphery countries must pursue greater productivity and competitiveness
Indian ‘growth juggernaut’ must be powered by real sector, says RBI deputy
Reserve Bank of India’s Kamalesh Chandra Chakrabarty believes accessing the country’s young workforce holds the key to sustaining higher levels of growth