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
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
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
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
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
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.
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.
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
The IMF’s 2014 review has some good GDP news but its reservations on interest rates bears closer attention. It can take 32 months for the effects of a an interest rate cut to be felt. What does this mean for the Indian economy?
The timing of the Reserve Bank of India's(RBI) move to curb inflation, the amendment of FEMA and the creation of a debt management agency suggests that the RBI's independence is under attack, as the centre seeks to strip the RBI off some of its power