India
RBI under pressure from alleged banking fraud scandal
Alleged fraudulent transactions uncovered at Punjab National Bank undermine the firm’s capital position; RBI launches investigation into “increasing incidence of frauds”
RBI launches tougher rules on non-performing loans
Overhaul of framework for dealing with stressed assets is latest step in central bank’s push to clean up financial sector
Taxes putting pressure on investment in India – RBI’s Patel
Reserve Bank of India leaves interest rates on hold, expressing concerns that latest budget threatens to push inflation out of target zone
RBI’s Acharya tells banks to deal with interest rate risk
Indian banks are vulnerable to changes in yields and have relied on regulatory forbearance for too long, deputy says
India needs radical reforms, says academic
State ownership has gone too far but the state needs stronger capabilities in other areas, argues Vijay Joshi
RBI’s Acharya: ‘fundamental reform’ to fix transmission
Despite several earlier attempts at reform, the central bank is still struggling to pass on its policy actions to the economy
RBI welcomes $32 billion public bank recapitalisation
Government unveils funding package designed to free India’s large public banks from a heavy burden of non-performing loans
RBI eyes unwelcome turnaround in India’s economy
Central bank on hold as growth slows and inflation ticks up sharply; Urjit Patel notes heightened volatility and geopolitical tensions
People: Portugal’s central bank appoints new deputy governors
Portuguese board also gains two new members; economist joins RBI board
Bad assets ‘keep me awake at nights’ – RBI deputy governor
Reform proceeding at a “glacial pace”, says Viral Acharya
Book notes: Advice & Dissent: My Life in Public Service, by YV Reddy
An engaging look into the private life and career of a former governor of the Reserve Bank of India, and arguably one of the best central bankers of the twentieth century, YV Reddy
RBI data casts doubt on value of demonetisation
Scheme receives fresh criticism after revelation that 99% of all notes have been returned; RBI emphasises long-term benefits
Indian central bank introduces 200 rupee banknote denomination
New denomination should “facilitate exchange” for smaller transactions, RBI says
RBI closes in on ‘endgame’ in bank clean-up
Governor Urjit Patel says the central bank’s new powers have allowed it to overcome “severe” moral hazard problems; state-owned banks will need recapitalisation, he says
RBI launches economics blog
“Mint Street Memos” comprise brief reports and analysis from RBI economists; first post studies beneficial effects of demonetisation for “financialisation” of savings
RBI makes first rate cut of 2017
Inflation is at a record low, and growth is forecast to rebound, although the RBI is still concerned about weak transmission of the policy rate
People: RBI deputy retires; Paraguay elects new board member
RBI reshuffles responsibilities as deputy retires; Paraguay elects new board member; FCA launches new role in Scotland
People: Fed appoints new CFO; Mishra returns to IMF after stint at RBI
Fed chooses Ricardo Aguilera as new CFO; Prachi Mishra returns to the IMF; Bank of Russia appoints new head of resolution department
RBI minutes: ‘abrupt’ retreat of inflation calls for caution
MPC members express surprise at swift retreat of food prices, though they warn against setting policy by looking in the “rearview mirror”
RBI looks to ease credit conditions as inflation projection falls
Rates on hold, but central bank is seeking to give banks more room to lend by easing capital and liquidity requirements; committee fends off possible government meddling
People: Menon given fourth term; Irish chief economist retires
Singaporean governor awarded fourth consecutive term; Ireland’s chief economist retires, while the registrar of credit unions heads to the IMF; India appoints a new executive director; and more
People: Maltese deputy resigns; India and Macedonia seek new deputies
Alfred Mifsud resigns from Central Bank of Malta following civil dispute with former partner; India and Macedonia advertise for senior officials; and more
RBI begins to wield new banking clean-up powers
Central bank puts pressure on banking sector to carry through plans to address non-performing assets; floats idea of supplying its own credit ratings to prevent “rating shopping”
People: Romanian deputy nominated; Belgium’s Dewatripont leaves central bank
Romania to soon have new deputy governor, pending parliamentary approval; National Bank of Belgium’s deputy Dewatripont leaves central bank; India creates CFO role; and more