-The Hindu Business Line The food articles’ high weight and their price volatility have reduced the efficacy of the central bank’s policy actions The flexible inflation targeting framework adopted by RBI in 2016 is considered a significant economic reform in India post 2000. Under this framework, maintaining a 4 per cent CPI headline inflation gets the highest priority in the hierarchy of monetary policy objectives. This rule based policy making renders monetary...
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Govt citing lack of fiscal space for reluctance to provide adequate support to economy is odd -Jahangir Aziz
-The Indian Express What needs to be ensured is that the recovery is not hamstrung by damaged household and SME balance sheets because of the extended loss of wages and incomes. This requires extensive income support now. Sometimes we miss the forest for the trees, and at other times the trees themselves become the story. That seems to be the case with India’s 3Q20 GDP print. Some have exulted over headline growth printing...
More »RBI upgrades GDP forecast, expects economy to shrink 7.5% this fiscal
-Livemint.com The economy is recuperating faster than anticipated, the RBI chief said The Reserve Bank expects GDP to contract 7.5% this fiscal, said central bank chief Shaktikanta Das while announcing monetary policy committee decision to keep interest rate unchanged. This is an upgrade from the central bank's earlier forecast of 9.5% contraction in its October review. The economy is recuperating faster than anticipated, the RBI chief said, adding that the recovery in...
More »Raghuram Rajan says proposal to allow business houses into banking is a 'bad idea' -J Jagannath
-Livemint.com The former RBI governor, and Viral Acharya, a former RBI deputy governor questioned timing of the RBI panel's proposal at a time when 'India is still trying to learn the lessons from failures like IL&FS & Yes Bank' New Delhi: Raghuram Rajan and Viral Acharya on Monday criticised RBI Internal Working Group's recommendation to allow Indian corporate houses to set up banks as part of proposed changes to the banking sector. Raghuram...
More »What is a bank moratorium, and when does it come into play? -K Bharat Kumar
-The Hindu * When does the Reserve Bank of India intervene, and what are some of the key steps it takes? The story so far: On November 17, the Centre, acting on the recommendation of the Reserve Bank of India (RBI), imposed a moratorium on Lakshmi Vilas Bank (LVB) for a period of 30 days. The 94-year-old bank, based in Karur, Tamil Nadu, has been struggling with losses for three years. As...
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