Tag: Viral Acharya
17 Results
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RBI Deputy Governor Viral Acharya quits 6 months before his term ends
Acharya submitted a letter to the RBI informing that due to 'unavoidable personal circumstances' he is unable to continue his term beyond July 23, 2019.
June 24, 2019 -
Prompt corrective action?
That two economists of international eminence have found it impossible to serve as its governors under the current dispensation is self-revealing of the narrow straits into which India’s central bank is being forced into, which is far from edifying.
December 17, 2018 -
RBI Governor Shaktikanta Das to steer first central board meet today amid autonomy row
The meeting comes in the backdrop of surprise resignation by Urjit Patel earlier this week citing personal reasons.
December 14, 2018 -
It takes two to tango
The uncharacteristic spat between the mandarins of North Block in the Ministry of Finance (MoF) on the one hand and the mainly Congress-led but joined by impartial academics spewing their acidulous onslaught on behalf of the country’s central bank in defense of the latter’s functional autonomy on the other, did eventually turn out to be …
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November 28, 2018 -
Govt, RBI likely to sort out issues before Nov 19 meet; Urjit Patel may not quit: Report
Earlier media reports claimed that RBI Governor Urjit Patel could resign at the central bank’s next board meeting on November 19.
November 15, 2018 -
Scant Autonomy
Having arrogantly dismissed the government’s ignominious spat with the Reserve Bank of India, arguably the repository of the country’s financial and fiscal wisdom, in a tweet, as “misinformed speculation”, Mr Subhash Chandra Garg, Secretary of the Department of Economic Affairs, may have banged the door shut on the unseemly washing of dirty linen in public …
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November 15, 2018 -
Amid Govt-RBI face-off, Urjit Patel met PM Modi on Nov 9 to sort out issues: Report
Patel’s meetings at the PMO came days before the RBI’s crucial board meeting on November 19 during which contentious issues are likely to come up for discussion.
November 13, 2018 -
Not seeking Rs 3.6 lakh crore from RBI, clarifies Centre amid autonomy row
The Congress has accused Prime Minister Narendra Modi's government of being bent on 'snatching' the contingency reserves of the RBI.
November 9, 2018 -
RBI like seat belt for govt; top bank’s autonomy to be respected: Raghuram Rajan
Ahead of the November 19 meeting of RBI Board, Rajan said the objective of the board is to protect the institution and not serve others' interests.
November 7, 2018 -
New RBI chief on the anvil?
Speculation has been mounting that RBI Governor Urjit Patel could quit his post. Though Patel is still in the chair, it hasn’t stopped chatter about his successor should he resign
November 7, 2018 -
RBI governor should work with govt or quit, says RSS economic wing head
The comments come against the backdrop of escalating tension between the government and the RBI over various issues.
November 1, 2018 -
Govt confirms ‘extensive consultations’ with RBI amid reports of invoking special powers
Reports earlier in the day said that the government has invoked never-before-used powers under Section 7 of the RBI Act allowing it to issue directions to the central bank governor on matters of public interest.
October 31, 2018 -
Govt-RBI rift: Jaitley slams apex bank for bad loans, chairs meet with Urjit Patel, deputy
The rift between the government and the RBI surfaced after Deputy Governor Viral Acharya in a hard-hitting speech on Friday pitched for “effective independence” of the central bank.
October 30, 2018 -
RBI identifies more huge loan defaulters for resolution
The Reserve Bank of India (RBI) has identified the second batch of large accounts which have defaulted in repayment of loans and has advised banks to resolve them, a senior official said on Thursday. The information was revealed by RBI Deputy Governor Viral Acharya, while delivering the 8th R.K. Talwar Memorial Lecture here. The development …
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September 7, 2017 -
RBI to form panel for setting up public credit registry
The Reserve Bank on Wednesday said it will set up a task force to provide a roadmap for development of a public credit registry — a database of credit information — for India. "To improve transparency in credit markets and to facilitate better early intervention as well as risk-based counter cyclical provisioning, the Reserve Bank …
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August 3, 2017 -
Inflation data a challenge, RBI ‘grappling’ with it: Dy Guv
A day after the finance ministry cast doubt on RBI's inflation forecasts, Reserve Bank Deputy Governor Viral Acharya on Friday said price rise data pose a challenge and the central bank is "grappling" with it. Acharya also said capacity utilisation in many of the sectors is very low, with a depressing impact on economic activities. …
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June 9, 2017 -
Complete remonetisation in 2-3 months?
Reserve Bank of India (RBI) Deputy Governor Viral Acharya on Monday said the remonetisation process will be completed in the next two to three months as the process is going on at a fast pace. Acharya added that the level of currency in circulation will be slightly lower than that during the pre-demonetisation period. “It …
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March 6, 2017