Very early on, India also realised the importance of Atma Nibharta in food and hence an impressive story is the growth of food grain output in the country.
Much of central banking literature is focused on the need to have monetary policy rules and targets, ignoring this vital governance aspect of central banks. This needs to change
The development shows that relations between the central bank and the Executive at the moment are about the coldest they have ever been
The former RBI governor, who headed the central bank from 2003 to 2008, said it is the taxpayers who pay for the losses due to such banking frauds.
The situation at public sector banks is screaming for the government to stop appointing their board members.
Reforms are done in two ways, incrementally and fundamentally, currently we are doing incremental reforms, says former RBI governor, YV Reddy.
CNBC-TV18’s Timsy Jaipuria caught up with Former Reserve Bank of India Governor, YV Reddy and asked him his take on the recent bank recapitalisation proposal that the government has put forward.
In his autobiography 'Advice and Dissent: My Life in Public Service', Reddy said the two started off on a disagreement over opening of banking system to foreign ownership and by 2008 "there was a growing distance between us."
Sebi is keen on continuing with participatory notes and it has also told SIT that P-note rules could be tightened further if the agency was not convinced that the present safeguards were adequate.
In his first address to the staff after taking over as the 24th Governor on September 4, 2016, Patel, in an email, said the RBI has achieved the excellence only because of the collective efforts of its employees.
Speaking to CNBC-TV18 note economist Montek Singh Ahluwalia said that central banks need to have credibility. The impact of a central bank in people‘s minds depends on this credibility.
Speaking to CNBC-TV18 Former RBI Governor Bimal Jalan said that while everybody concedes that the growth rate will go down, the magnitude of the fall varies.
Speaking exclusively to CNBC-TV18 Former RBI Governor YV Reddy said that the institutional identity of the banking regulator has been damaged. It is a full-service central bank, he said, adding that the emphasis is only on the monetary policy.
Addressing the media on the last day of depositing the invalid notes in banks, Chidambaram also demanded that the agenda and minutes of the crucial RBI Board meeting along with the Cabinet Note of demonetisation be made public.
Another former Governor, C Rangarajan agrees with Subbarao, saying that just like the government's five year plans, a five year Governor term is also vital.
There is going to be U-shaped recovery. The depth and pace of it will be difficult to predict, said ace investor Rakesh Jhunjhunwala. There is no need to assume that Rajan is the only man who can continue policy initiatives and the RBI is an institution, he said.
The Rajan era showed promise of resetting India‘s financial sector. The repositioning of the RBI as primarily an inflation-fighting central bank was the first tenet of Rajanomics. Rajan did it with all the paraphernalia.
YV Reddy also added that the World Bank concentrates only on poor countries, but emerging markets BRICS Bank will be global.
14th Finance Commission chairman and former RBI governor YV Reddy says the government is now obligated to transfer excess to states under divisible pool.
In 1991, India had reserves to cover only 15 days of imports, whereas now it has reserves to cover seven and a half months of imports. Also now, both interest rate and exchange rate are market determined
Former RBI governor YV Reddy tells Forbes India that the government should increase fiscal expenditure, as the private sector cannot meet the rising demand for water, sanitation and public health.
In this edition of Indianomics, former Reserve Bank of India (RBI) Governor, Dr YV Reddy gives his insights on India's reform agenda and his new book, 'Economic Policies and India's Reform Agenda: New Thinking'.
DK Mittal, secretary of financial services, GoI, shares his view on banking regulation amendment bill. He says that the RBI being the regulator will be the notifying authority, and they will issue the guidelines for the banking regulation amendment bill very shortly maybe in next two weeks time.
YV Reddy, former RBI governor and now chairman of the 14th finance commission launched his new book "Economic policies and India's reform agenda: new thinking." He shared his views on the burgeoning current account deficit and on bank licences.
The finance minister today announced the formation of the 14th Finance Commission. Former RBI governor, YV Reddy will be the chairman of the commission.