RBI
High growth will boost revenue but fuel inflation: RBI
The Reserve Bank of India (RBI) indicated that the rise in economic growth would contribute to fiscal consolidation by adding to government revenues. However, it is said that the stronger-than-expected revival has added to general policy concerns on inflation. Food prices have already risen substantially; even though the central bank had in October `09 projected [...]
No fear of asset bubble on rising inflows: RBI
The Reserve Bank of India”s governor, D Subbarao, said that the capital flow into India was in line with the requirement and the current account deficit. This was announced a day after the RBI tightened the norms governing external commercial borrowings (ECB). He also assured that there was no threat of a capital surge or [...]
RBI eases overseas borrowing for telcos
The Reserve Bank (RBI) has eased overseas borrowing for telecom companies. Now, telecom companies bidding for third generation (3G) mobile spectrum can easily borrow money from abroad. However, there are tight norms for others. According to the RBI, the new ECB norms for telecom sector will apply with immediate effect. The central bank in a [...]
RBI on road to financial inclusion
The Reserve Bank of India (RBI) celebrated its Platinum Jubilee and the governor of the Bankers” Bank was at a village in the outskirts of Bangalore, teaching, as part of the festivities. However, the RBI governor Duvuri Subba Rao himself visited a village on the outskirts of Bangalore on the same day that the central [...]
RBI unlikely to raise key rates
The Reserve Bank of India is unlikely to raise key rates as of now as the credit growth continues to be sluggish, according to Mr Suman K. Bery, Member of Prime Minister”s Economic Advisory Council and Director-General of the National Council of Applied Economic Research. In reply to a question from journalists, on the sidelines [...]
RBI governor talks tough on monetary policy
RBI Governor D Subbarao may have completed a chaotic one-year in office but the road ahead will be tough but his goal is clear-India will have to depart its easy monetary policy sooner than other countries as inflationary pressures begin to surface. However, Subbarao minced no words to express his focus on winding up the [...]