Patel said the calls for protectionism in the US were on account of equity and domestic distribution issues which "textbook economics tells us should be addressed through domestic fiscal policy" such as taxation and income transfers.
In the minutes of the Monetary Policy Committee meeting, RBI Governor Urjit Patel said that for efficient monetary transmission, it is important that interest rates on small savings are not out of line with interest rates on other comparable instruments in the financial system.
RBI is said to be discussing all options with the government, including sector-specific and size-specific mechanisms, to speed up resolution of bad loans.
Rising interest rate in the US provides sufficient indication that benchmark policy rate of the Reserve Bank of India is not going to go down but may increase in the future depending on domestic and external factors, experts said.
The Reserve Bank will shortly issue Rs 10 denomination bank notes in the Mahatma Gandhi Series 2005.
Expressing concerns over mounting bad loans, Banks Board Bureau (BBB) Chief Vinod Rai has written to Finance Minister Arun Jaitley and Prime Minister's Office underlining the tardy progress made by state-owned lenders in resolving the issue of Non Performing Assets.
Jaitley had called the meeting to deliberate on options on resolution of stressed assets in the banking sector.
A senior government official said that the mechanism to deal with non-performing assets was discussed, but nothing has been finalised as of now.
A key Parliamentary panel is likely to submit its report on the impact of demonetisation next month after reviewing various submissions, including by RBI Governor Urjit Patel.
Reserve Bank of India Governor Urjit Patel allegedly received a threat mail asking him to quit the job from a 37-year-old man, who has been arrested from Nagpur, police said today.
Faster remonetisation and return of discretionary consumer demand will push economic activity in the latter part the fiscal, opined RBI Governor Urjit Patel while voting for no cut in interest rate earlier this month.
While three members highlighted the need to change the stance from accommodative to neutral, four mentioned that inflation excluding food and fuel remains â€œstickyâ€ at close to 5 percent
RBI governor Urjit Patel, in an interview with Network 18 Group Editor-in-Chief Rahul Joshi, highlighted the strength of the Indian economy and the prospects of the country post demonetisation.
Like his predecessor Raghuram Rajan, incumbent governor Urjit Patel has developed a knack for catching the market by surprise
RBI Governor talks about demonetisation, growth and why it is important for a central bank chief to develop a 'thick skin'.
The Reserve Bank of India is unsure of a bad bank success to resolve bad loans but is open to setting it up to experiment all solutions.
The six member monetary policy committee (MPC), headed by RBI governor Urjit Patel, chose to ignore calls from business leaders for cheaper loans to aid investment and household spending.
The Reserve Bank today kept key interest rates unchanged saying it wants to assess how the transitory effects of demonetisation on inflation and the output gap play out.
The Reserve Bank of India has kept the key policy rate unchanged at 6.25 percentage points for the second time in a row.
Reserve Bank of India (RBI) is towards the end of rate cut cycle, says Vivek Rajpal of Nomura India. He further says that bond yields will rally only by 5-10 basis points (bps) if RBI cuts rate by 25 bps and expect the 10-year bond yield is unlikely to go to the level of 6.35.
The Election Commission today requested the Reserve Bank of India to enhance the weekly cash withdrawal limit of candidates contesting polls in five states to Rs 2 lakh from the Rs 24,000 imposed post demonetisation as they would find it difficult to meet their campaign expenditure.
RBI today informed a parliamentary panel that it is working on a mechanism to bring down transaction cost on online payments post demonetisation even as cash flow position in urban as well as rural areas have improved significantly.
RBI Governor Urjit Patel, Finance Secretary Ashok Lavasa and the Economic Affairs Secretary Shaktikanta Das are appearing before the Parliament's public accounts committee today.
RBI Governor Urjit Patel today faced some tough questions from MPs as he could not set a time frame for return of normalcy in the banking system even as the central bank asserted that Rs 9.2 lakh crore or 60 percent of demonetised currency has been replaced.
As wholesale prices rose 3.39 per cent in December, India Inc today said the focus should be on growth-oriented reforms that boost consumption, investment and job creation, while economists opined that inflation may rise in January and February.