Tag: Raghuram Rajan
17 Results
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Rajan says Chicago university leave wasn’t issue in RBI exit
Former RBI Governor Raghuram Rajan has debunked the theory that Chicago University’s refusal to extend his leave forced his departure, saying it was never an issue and he wanted to stay longer at the RBI to complete the unfinished task of clean-up of banks. In an interview to PTI, he said there was no proposal …
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September 10, 2017 -
‘Pliant’ RBI governor loses respect: Rajan
Former RBI Governor Raghuram Rajan today said if a central bank head is “pliant and subservient”, he risks losing the respect of his team members. He, however, added that RBI governors, once in office, “develop backbone very quickly”. He also advocated protecting the governor’s term on the lines of the judiciary. Rajan, the first RBI …
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September 9, 2017 -
Close down Dept of Financial Services, says Raghuram Rajan
Former Reserve Bank governor Raghuram Rajan today said governance reforms at state-run lenders will get complete only with the shuttering of the Department of Financial Services (DFS). DFS, which monitors state-run banks, has created “sameness” among them and governs them “without responsibility”, he said. Rajan also expressed displeasure at the working of the Banks Board …
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September 9, 2017 -
Had to come back to India to exchange scrapped notes: Raghuram Rajan
Former RBI Governor Raghuram Rajan himself had to come back to India to exchange scrapped currency as he had no clue about the demonetisation date, though the process started during his governorship. Rajan, who ended his three-year term as RBI Governor on September 4 last year, said he had taken some Indian currency with him …
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September 8, 2017 -
I would have resigned if note ban was thrust: Raghuram Rajan
Former RBI Governor Raghuram Rajan said on Thursday that he would have resigned if the demonetisation decision was thrust on him but made it clear that the government can bypass the central bank if it wants to push ahead with such a decision. “It (demonetisation) happened in 1978. Government brought in demonetisation through an ordinance. …
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September 7, 2017 -
Slowdown of credit pre-dates banks drive against NPAs: Rajan
The slowdown of credit growth in India is not the fallout of state-run banks attempting to resolve their massive non-performing assets (NPAs), or bad loans, problems and pre-dates the recent efforts by banks to clean up their balance sheets, former RBI Governor Raghuram Rajan has said. “Once again there were a bunch of critics who …
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September 3, 2017 -
Raghuram Rajan’s ‘those turbulent but exciting times’ in a book
Exactly one year after his term as Governor of the Reserve Bank of India came to an end, Raghuram Rajan is all set to publish a new book with his “commentary and speeches” to convey what it was like to be at the helm of the central bank in “those turbulent but exciting times”. Titled, …
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August 23, 2017 -
SBI chief’s salary only fraction to counterparts in pvt banks
The salary of head of SBI, one of the world's 50 largest banks, is only a small fraction compared to private sector players like ICICI Bank and HDFC Bank. Former RBI governor Raghuram Rajan had flagged the low remuneration issue last August saying it makes difficult for state-owned banks to “attract top talent, especially a …
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June 26, 2017 -
Note ban was reason Rajan left: Chidambaram
Former Finance Minister and senior Congress leader P. Chidambaram on Friday said that a five-page letter speaking against demonetisation was submitted to the Centre by "someone in the Reserve Bank of India" on the day Raghuram Rajan stepped down from the post of Governor of the apex bank. Chidambaram dared the government to make the …
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February 10, 2017 -
Rajan returns to academia; to teach international corp finance
Having returned to his "ultimate home", former RBI Governor Raghuram Rajan has resumed his role as ‘Distinguished Service Professor of Finance’ at the University of Chicago Booth School of Business and would teach international corporate finance there in winter of 2017. Giving details of Rajan’s ‘course schedule’ for 2016-17, Chicago Booth School said this course …
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September 18, 2016 -
Rajan put banking system in right direction: President
Just retired RBI Governor Raghuram Rajan’s clean-up of more than $100 billion of stressed assets on the books of banks on Saturday came in for praise from President Pranab Mukherjee who felt rising NPAs are not a desirable situation. "Of course more than often you listen to NPAs of banking system, which is no doubt …
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September 10, 2016 -
Hope India will continue to prioritise low inflation : Rajan
Former RBI Governor Raghuram Rajan, whose tenure at the central bank ended in September, hopes the process of cleaning up banks in the country will be finished and government will continue to prioritise "low inflation", even as he warned against low interest rates globally. Rajan, who stepped down on September 4 as India’s top central …
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September 6, 2016 -
Urjit Patel takes charge as RBI Governor
Urjit Patel has assumed charge as the 24th Governor of Reserve Bank, succeeding Raghuram Rajan whose three-year controversy-ridden tenure ended on Sunday. Patel has assumed charge effective September 4, 2016, after serving as deputy governor since January 2013, RBI said in a statement on Monday. He was reappointed as deputy governor on January 11, 2016, …
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September 5, 2016 -
Dr Patel checks in at RBI to complete Rajan’s ‘deep surgery’
Urjit Patel, the new Governor of RBI who has maintained a contrasting low-profile to outspoken and rockstar-like Raghuram Rajan, has his immediate task cut out — finishing the ‘unfinished agenda’ of his predecessor on completing ‘deep surgery’ of banks and winning the war on inflation. Incidentally, it was Patel — often referred to as ‘Dr …
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September 4, 2016 -
Raghuram Rajan demits office as RBI Governor on Sunday
Outgoing Reserve Bank of India (RBI) Governor Raghuram Rajan demits office on Sunday, when he hands over charge to Deputy Governor Urjit Patel. The Finance Ministry on Saturday hosted a farewell dinner in Rajan’s honour in New Delhi that was attended by Finance Minister Arun Jaitely along with other senior officials of the ministry. At …
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September 4, 2016 -
Finance Minister hosts farewell dinner for Rajan
The finance ministry on Saturday hosted a farewell dinner in the honour of outgoing RBI Governor Raghuram Rajan, a day before he demits office. The dinner was attended by Finance Minister Arun Jaitely along with other senior officials of the ministry. The three-year term of Rajan comes to end on Sunday when he hands over …
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September 3, 2016 -
‘Investors tend to see through noisy politics in India’
Outgoing RBI Governor Raghuram Rajan on Friday said foreign investors tend to see through the "noisy politics" in India around emotive issues like beef ban, ‘love jihad’ and ‘ghar wapsi’. With private investment not picking up and jobs not being created, he advocated ‘step-by-step’ liberalisation of the economy for boosting growth. "We are a very …
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September 2, 2016