May 10, 2016 12:36 PM IST
"Members from Reserve Bank are known that is already mentioned in the Act itself. You have RBI Governor, Deputy Governor and Executive Director. Now from the government side three independent members are to be nominated," Economic Affairs Secretary Shaktikanta Das said on the sidelines of an event organised by ADB here.
- May 05, 2016 08:00 PM IST
The move to strip Reserve Bank Governor of powers to set interest rates by transferring the
authority to a broader panel is a step closer to reality with the Lok Sabha today approving the Finance Bill 2016.
- Apr 28, 2016 08:22 PM IST
Reserve Bank of India Governor Raghuram Rajan went with the majority view of the external members of its monetary policy committee that suggested a repo rate cut at the April review, according to the minutes released on Thursday.
- Mar 02, 2016 08:20 AM IST
The address of the finance minister comes in the backdrop of the government's announcement of meeting current year's fiscal deficit target and sticking to the target of 3.5 percent.
- Mar 01, 2016 08:08 AM IST
The Monetary Policy Committee will take decision based on the majority vote. Each member will have one vote but RBI Governor will get a casting vote in case of equality of votes.
- Jan 08, 2016 09:58 PM IST
Rajan and Patel had earlier worked together in the IMF in Washington. The re-appointment of Patel assumes significance as in recent past none of the deputy governors got a second term
- Oct 23, 2015 05:48 PM IST
The official did not elaborate on composition or voting rights of the RBI Governor in the MPC, which will replace the current practice of the Governor deciding on interest rate on advice of the technical advisory committee.
- Oct 23, 2015 01:39 PM IST
The Finance Ministry has moved a Cabinet note for the formation of a seven-member monetary policy committee (MPC) that will have three Reserve Bank nominees including the governor, three independent nominees and one government nominee, sources have told CNBC-TV18.
- Oct 05, 2015 05:17 PM IST
The government has proposed to set up the MPC, which will consist of representatives from the Finance Ministry and RBI, to decide on interest rate.
- Sep 10, 2015 07:15 PM IST
Ian McCafferty, one of the nine members of the Monetary Policy Committee, voted to increase rates to 0.75 percent but the majority of policymakers appeared in no rush to raise rates, according to minutes released on Thursday.
- Aug 27, 2015 10:00 PM IST
The revised draft of the Indian Financial Code (IFC), released by the Finance Ministry last month, had suggested doing away with RBI Governor's veto power and wants a 7-member MPC to take decisions by a majority vote.
- Aug 18, 2015 06:29 PM IST
The government has been trying to set up MPC, an interest rate setting panel which will comprise representatives from the Finance Ministry and the RBI, to decide on interest rate.
- Aug 13, 2015 09:31 AM IST
Asked if out-of-turn rate can be expected, Finance Secretary Rajiv Mehrishi told CNBC-TV18 said he would not want to comment on monetary policy action of the Reserve Bank of India (RBI) but being out of sync with the world, which we are this point, does not seem right.
- Aug 08, 2015 02:17 PM IST
Dr D Subbarao, former governor of the RBI, says a monetary policy committee will add value to decision-making by bringing wider perspectives and making the monetary policy decision more contestable.
- Aug 07, 2015 06:25 PM IST
Dr Duvvuri Subbarao, the previous governor of the Reserve Bank of India (RBI), has backed the demand for the central bank chief being given a veto power over interest rate decisions that are proposed to be handed over to a monetary policy committee (MPC).
- Aug 04, 2015 05:41 PM IST
Monetary Policy: ICICIdirect.com believe as front loading of rate cuts has already happened, rates may see southward movement at the fag end of 2015 or early 2016 unless the current policy structure changes onto monetary policy committee (MPC) formation which RB has also agreed, says the report.
- Aug 04, 2015 01:26 PM IST
Signaling truce with the government over who should decide interest rates, RBI Governor Raghuram Rajan today appeared to favour doing away with the veto power of the central bank chief, arguing it would be better for a committee to decide the key rate rather than one individual
- Aug 03, 2015 04:59 PM IST
Finance Secretary Rajiv Mehrishi confirmed that the suggestion to take away RBI governor's veto power on interest rate decisions did not come from the FSLRC reports but from 'public comments' on it.
- Jul 31, 2015 09:44 PM IST
The government "does not understand the fuss" over its recent proposal to constitute a seven-member monetary policy committee (MPC) and it will not take a hasty decision on whether to take away the Reserve Bank of India's veto power on the panel's interest rate decisions, sources have told CNBC-TV18.
- Jul 27, 2015 01:29 PM IST
The draft had proposed taking away Reserve Bank chief's authority to veto the interest rate decision of the central bank's monetary policy committee.
- Jul 24, 2015 10:43 AM IST
Former Reserve Bank of India governor Chakravarthi Rangarajan criticised a government move that proposes to give majority control of a monetary policy committee (MPC) to its nominees, and questioned how the central bank would successfully meet its inflation targets without control over it.
- Apr 17, 2015 10:11 AM IST
The government and the RBI have been at odds over several proposed changes to regulation, including the creation of an independent public debt management office and the specific composition of the planned monetary policy committee.
- Mar 10, 2015 11:16 AM IST
The government has recently proposed to amend the Reserve Bank of India (RBI) Act to take away money market regulatory powers from the central bank and bring it under the purview of market regulator Sebi.
- Mar 07, 2015 05:41 PM IST
Winds of change have been sweeping the Indian central bank. In an interview, a leading journalist, economist and two former RBI governors assess the impact of the number of changes that have taken place that are expected to dramatically alter the way the Reserve Bank of India works.
- Mar 03, 2015 10:06 PM IST
The RBI has committed to the government through the monetary policy agreement that it will keep inflation under 6% in fy16 and around 4% in the following years.