Courtesy: Shapoorji Pallonji
The Reserve Bank of India entered its 90th year on 1 April. From the 1940s to 1960s it was critical in protecting India’s interests at the Bretton Woods Conference in 1944, and conserving India’s Forex by managing a Rupee trade with the East Bloc. Today, it is among Mumbai’s several historic financial institutions and has navigated India’s economy through turbulent geopolitical and geoeconomic events.
Courtesy: Reuters
The Reserve Bank’s move to enable international trade in INR is a step towards regaining Indian primacy in the Indian Ocean region that the Indian Rupee once enjoyed. It is also an essential financial dimension that will add heft to India’s strategic SAGAR policy.
Courtesy: Shutterstock
The services sector is the most dynamic in the global economy, constituting nearly 25% of global trade, but its intangibility – unlike the materiality of trade in goods – makes it difficult to monitor. Service providers in this sector need a national regulatory governing framework
Courtesy: Mint
Government ownership of the Indian banking system has brought upon it a host of governance issues in the seven decades since independence: the Non Performing Asset crisis is a symptom of this, and clear indication that the system needs restructuring
Courtesy: Image Duyina
A robust currency is welcome, but only if a country’s economic fundamentals bear it out. The numbers offer specious comfort as a strong currency makes imports more attractive. The truth is that India’s economic growth is middling and private capital formation is not visible
Courtesy: India.com
Central banks play a critical role in forging the country’s international economic relations. Now, with the rule-based order being reset and new regimes getting established, they are better positioned to influence the playing field. It is, therefore, critical to strengthen the Reserve Bank of India so it can drive an agenda closer to the interests of emerging countries. This will also be a test of India’s future leadership capabilities
Courtesy: Armstrong Economics
The global monetary and financial system is lopsided and designed to favour rich countries; an alternative economic and political doctrine, which takes into account the needs of emerging economies like India, must now be articulated to end this one-sided architecture
Courtesy: Gateway House
Dr. Raghuram Rajan, Governor, Reserve Bank of India, delivered the keynote address at India's first Think20 (T20) meeting organised by Gateway House with TEPAV, on the "Global Economy and Challenges for Multilateral Policies." He urged emerging markets like India to develop their own capacity to provide new ideas to the global financial system, “hold the pen” that will write a more inclusive agenda, and strengthen global multilateral institutions.
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Dr. Raghuram Rajan, Governor, Reserve Bank of India, delivered the keynote address at India's first Think20 (T20) meeting organised by Gateway House with TEPAV, on the "Global Economy and Challenges for Multilateral Policies." In his 36-minute speech, he urged emerging markets like India to develop their own capacity to provide new ideas to the global financial system, “hold the pen” that will write a more inclusive agenda, and strengthen global multilateral institutions.
Courtesy: Jitender Gupta
The revised Indian Financial Code brings some alterations to governance within the RBI. At the heart of these changes is the belief in a popular myth that lower interest rates will lead unquestionably to higher economic growth