-The Times of India MUMBAI: Embattled RBI governor Urjit Patel’s predecessor Raghuram Rajan has come out in support of professionals leading the central bank, stating the regulator’s board should only ensure governance, not intervene in operational decisions. “The RBI’s board is not an operational board. It is not led by professional supervisors or central bankers. These are all people from different walks of life whose main role is to play the wise...
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Missing the wood for the trees -Prabhat Patnaik
-The Indian Express Debate around RBI-government stand-off ignores the structural cause behind India’s economic woes: Interest rates as an instrument cannot achieve multiple, contradictory goals. The stand-off between the Narendra Modi government and the Reserve Bank of India has generated a false discourse on the one hand and an illusion on the other. In this discourse, the RBI’s position, articulated by its deputy governor, is that central bank policy has to be...
More »CIC issues show-cause notice to RBI governor for non-disclosure of wilful defaulter's list
-PTI “The Commission feels that there is no match between what RBI governor and Deputy Governor say" The Central Information Commission (CIC) has issued a show-cause notice to RBI governor Urjit Patel for “dishonouring” a Supreme Court judgment on disclosure of wilful defaulters’ list. The CIC has also asked the Prime Minister’s Office, the Finance Ministry and the Reserve Bank of India (RBI) to make public the letter of former RBI governor Raghuram...
More »How to save Kisan Credit Cards from becoming an easy tool for money laundering -Sanganagouda Dhawalgi
-Financial Express Recently, former RBI governor Raghuram Rajan cautioned the government that Kisan Credit Cards (KCC) can be a potential credit risk for the economy. Recently, former RBI governor Raghuram Rajan cautioned the government that Kisan Credit Cards (KCC) can be a potential credit risk for the economy. Rajan’s caution be that as it may, one thing is certain that today KCC has become a tool in the hands of several...
More »RTI confirms Rajan sent PM Modi list of bank defaulters in February 2015 -Dheeraj Mishra
-TheWire.in/ Business Standard Asked what action was taken after receiving Rajan's list of NPA defaulters suspected of fraud, the PMO replied that this information does not fall within the scope of RTI New Delhi: Information disclosed in response to an RTI request made by The Wire has confirmed that former Reserve Bank of India governor Raghuram Rajan indeed notified Narendra Modi of the need to probe key defaulters as early as eight...
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