The government is looking for candidates for the advisory post, with only six months to go for Prime Minister Narendra Modi's 5-year term to end
Net NPAs for 36 banks have reduced by Rs 18,921 crore in the three months from July to September. During the same period, gross NPAs have reduced by a mere Rs 5870 crore
Though the minister was silent on Rajan's criticism of the note-ban, which has disrupted everyone's life in general and that of small traders and small businesses in particular.
In his 'Mundell-Fleming Lecture' at the International Monetary Fund headquarters Rajan argued that even if countries at either end of the flows follow reasonable policies, the nature of the expansion in liquidity in the up-cycle may, by increasing leverage and reducing pledgeability, set the stage for a costly downturn.
The development shows that relations between the central bank and the Executive at the moment are about the coldest they have ever been
Here's a playlist of the best podcasts covering various events over the week.
The PSB boards are still not adequately professionalised, and the government, rather than a more independent body, still decides board appointments, with inevitable politicisation.
Rajan answered several big questions in his note, as well expressed his views on the depreciation of the rupee, emerging market scenarios, and global trade war concerns will be the prime focus in the Story of the Day.
In the note to Chairman of Estimates Committee Murli Manohar Joshi, Rajan said that the size of frauds in the public sector banking system has been increasing, though still small relative to the overall volume of NPAs.
The origin of NPAs in the Indian banking system can be partly attributed to extrapolation of past growth and performance to the future by banks, and resultant over optimism, according to Raghuram Rajan.
"A variety of governance problems such as the suspect allocation of coal mines coupled with the fear of investigation slowed down government decision making in Delhi, both in the UPA and the subsequent NDA governments"
The rupee crashed below the 72-mark to end at a life-low of 72.45 against the US dollar on growing fears of contagion from an emerging-market rout and escalation of a global trade war.
Patel has made clear his unease about the Finance Ministry’s attempts to get overbearingly close to the central bank
Patel took over the saddle from his high-profile and “rockstar” predecessor Raghuram Rajan on September 4, 2016
Rajan said that while global growth has been strong in recent years, the concern remains as to how long it can sustain and whether the raised asset prices are justified on the basis of it
In the inaugural episode of Coffee Can Investing series, Saurabh Mukherjea talks to Sankaran Naren, Chief Investment Officer of ICICI Prudential Mutual.
A bad bank is an entity or structure that buys non-performing assets (NPAs) or distressed loans from banks and recovers them
Rajan has been mentioned by analysts as a possible future BoE governor after Mark Carney - who previously headed Canada's central bank - steps down at the end of June 2019.
The article stated that ‘attracting Raghuram Rajan, the highly respected Chicago-based economist and former Reserve Bank of India governor, would be a coup’.
On November 8, 2016, the Centre banned Rs 500 and Rs 1,000 currency notes to curtail the shadow economy and crack down on the use of illicit and counterfeit cash to fund illegal activities and terrorism.
Rajan said that the negative effects of demonetisation have already been seen, whereas the positives stemming from it, if any, will only be visible in the future.
R Seshasayee, chairman of IndusInd Bank and the chairman of the supervisory board of the university said the proposed liberal arts university will attract an initial investment of Rs 750 crore in the first phase.
With advances in Machine Learning, Artificial Intelligence and Robotics, this was going to change still further, as they take up the jobs,ranging from those in unskilled sweatshops to high-skilled professions like medicine, the former RBI Governor said.
Rajan said this when asked about his absence in the social media during an interaction with reporters. The former RBI governor was here to address the Global Digital Summit (#Future), organised by the Kerala government.
Rajan, Professor, Finance, University of Chicago, Booth School of Business, advised that one should stay away from trade war particularly at a time when the economy the world over was in the process of recovery.