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Amol Agrawal

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Explainer: An overview of RBI’s efforts to encourage retail investment in debt markets

BUSINESS

Explainer: An overview of RBI’s efforts to encourage retail investment in debt markets

The reasons for poor retail participation in the debt market are low awareness and understanding of bond markets, high transaction costs, and lack of access to the market. The RBI is trying to rectify these flaws 

New Year may herald first round of bank privatisation, new licences for private entities

ECONOMY

New Year may herald first round of bank privatisation, new licences for private entities

The next year brings hope that a decade of bad news in Indian banking ends and will pave the way for far-reaching changes. Yet, the surfacing of the new Omicron variant of Covid-19, has cast a pall of uncertainty.

Banking | The impossible trinity of India’s banking policy

BUSINESS

Banking | The impossible trinity of India’s banking policy

The RBI has three goals: competition, scale and financial stability. Achieving this trinity is near impossible, and the RBI has always had to settle for two of these three goals 

Cryptocurrency | What happens when RBI issues a digital currency?

BUSINESS

Cryptocurrency | What happens when RBI issues a digital currency?

How will a CBDC be created? Will the RBI use its centralised ledger system or use the decentralised blockchain model to create it? 

What Jerome Powell’s second term means for US and India

BUSINESS

What Jerome Powell’s second term means for US and India

As long as the Federal Reserve pares its policy in a planned manner, it might not be much of a problem for India. If done suddenly in an ad-hoc manner, it could lead to volatility in the Indian markets 

RBI must conduct periodic reviews to better ease of compliance

BUSINESS

RBI must conduct periodic reviews to better ease of compliance

The Regulations Review Authority is required to seek feedback from the regulated entities to simplify “procedures and enhancement of ease of compliance”. The aim of this exercise was to streamline reporting mechanism, revoke obsolete instructions, and obviate paper-based submission of returns 

Will RBI be like Abhimanyu or Arjuna to break the easy monetary policy chakravyuh?

BUSINESS

Will RBI be like Abhimanyu or Arjuna to break the easy monetary policy chakravyuh?

The return to normal monetary policy will not be easy. Indeed, Governor Shaktikanta Das said recently it “is not like rolling back a carpet” 

How the politics of central bank appointments is getting interesting again

BUSINESS

How the politics of central bank appointments is getting interesting again

After pandemic-related developments, the focus appears to be shifting to central bank governors who are stepping down or getting reappointed 

Capital Convertibility | RBI is moving ahead, one step at a time

BUSINESS

Capital Convertibility | RBI is moving ahead, one step at a time

The RBI deputy governor’s speech provides us with ideas on the recent policy thinking on capital account convertibility. It is interesting that the RBI is moving ahead with the trickier phase of liberalising capital inflows in the debt markets 

Will India show the way on growth? IMF thinks so 

BUSINESS

Will India show the way on growth? IMF thinks so 

Economic fortunes are on a roller coaster ride, but we need to go beyond all the headline numbers to get the real picture on growth

Explainer: Nobel Economics Prize of 2021

BUSINESS

Explainer: Nobel Economics Prize of 2021

The Nobel Prize in Economics for 2021 has been awarded to three economists: David Card, Guido Imbens and Joshua Angrist. This explainer discusses the work of the three economists which led the Nobel Committee to award them the prize. 

Explained | The saga of the US Debt Ceiling crisis and $1 trillion coin

BUSINESS

Explained | The saga of the US Debt Ceiling crisis and $1 trillion coin

Till the time the US Congress resolves the crisis, there will be global uncertainty which will keep global financial markets on the edge.

Explained | China’s ban on cryptocurrency

BUSINESS

Explained | China’s ban on cryptocurrency

While China has banned private virtual currencies, it is in an advanced stage of issuing a central bank digital currency for public usage

Equitas-Google Pay deal reflects confluence of banking and fintech

BUSINESS

Equitas-Google Pay deal reflects confluence of banking and fintech

In India, the large private banks may not need such partnerships, but the ailing public sector banks and the troubled old private sector banks can gain from such deals. Partnerships and technology can also benefit cooperative banks which have been on the RBI’s radar for a while now 

Will the NARCL cleanse India’s banking system?

BUSINESS

Will the NARCL cleanse India’s banking system?

The answer to that depends on learning from global lessons in this respect. For instance, political will and consensus is one crucial ingredient for success

How Raghuram Rajan, Urjit Patel differ on greening of central bank policies

BUSINESS

How Raghuram Rajan, Urjit Patel differ on greening of central bank policies

The central banks cannot make direct green policies such as carbon taxation, lower plastic usage, which fall under the purview of the governments. These banks can at best make indirect policies to nudge greener investments 

Explained | Why US Fed’s Jackson Hole conference is a big deal

BUSINESS

Explained | Why US Fed’s Jackson Hole conference is a big deal

At the Jackson Hole conference, financial markets will keenly watch if US Fed chair Jerome Powell mentions the word taper in his speech and whether US Treasury Secretary Janet Yellen has anything to say on the interlinkages between fiscal and monetary policy

Will banking take off in India’s GIFT City?

BUSINESS

Will banking take off in India’s GIFT City?

IFSCA regulations are not very different from the 2015 RBI regulations. We also have to see how and whether Mumbai and GIFT City complement each other’s activities 

50 years of nixing Bretton Woods, and the world is yet to recover

BUSINESS

50 years of nixing Bretton Woods, and the world is yet to recover

The RBI’s Annual Report (1971-72) noted that the demise of Bretton Woods implied changes of a far-reaching nature in the international monetary system 

Global inflation on the rise. Why aren’t central banks worrying?

BUSINESS

Global inflation on the rise. Why aren’t central banks worrying?

Central banks are under pressure from rising inflation but so far they have brushed it aside as ‘transitory.’

Finally, the European Central Bank moves beyond price stability

BUSINESS

Finally, the European Central Bank moves beyond price stability

Compared to other central banks, the ECB’s tasks are more complex as it is a central bank of 19 economies. Having done the review, the markets will watch how the ECB will function with these multiple objectives 

30 Years Of Economic Reforms | Taking stock of Indian banking

BUSINESS

30 Years Of Economic Reforms | Taking stock of Indian banking

Indian banking has come a long way since 1991. The private banks have played an instrumental role in this transition bringing new technology and products to the banking space. However, despite this, Indian banking is still a work in progress on some core issues 

PV Narasimha Rao | A look-back at his political and economic legacy

POLITICS

PV Narasimha Rao | A look-back at his political and economic legacy

PV Narasimha Rao’s legacy is obviously in the space of economic reforms which has been hotly debated and will continue to do so as we complete 30 years of reforms in 2021 

Implications of El Salvador’s tryst with Bitcoin

POLICY

Implications of El Salvador’s tryst with Bitcoin

There is no doubt that El Salvador and its President Nayib Bukele have created a stir in the world of money. With El Salvador entering the Bitcoin field, will we see other economies joining the fray?

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