In 1979, a Special Secretary in the finance ministry called Manmohan Singh would give a sharp rap on the RBI's knuckles for not consulting the government over some issue
In his autobiography, former RBI Governor Y V Reddy said he had offered Rajan deputy governor's post
Share prices of the most efficient corporations are where they are because of global supply chains
With reference to Subhomoy Bhattacharjee's report, "Move to change RBI governor ranking" (August 22), it is not correct to consider the Reserve Bank of India governor as a regulator. Other regulators are responsible for specific segments of the economy, such as securities market and insurance, whereas the RBI governor is responsible for macroeconomic stability. RBI actions have a much wider impact on the economy and monetary policy supplements fiscal and other public policies.Making the RBI governor's position subordinate to that of the Cabinet secretary indicates the government's intention to undermine the central bank's autonomy and let the bureaucracy always have an upper hand.Outgoing RBI Governor Raghuram Rajan was seeking to upgrade the governor's position to that of a cabinet minister. The deputy chairman of NITI Aayog is of the rank of a cabinet minister; the national security advisor, who functions only in an advisory capacity, has the rank of a minister of state.It is clever
Three things need Patel's attention: cleaning up bank balance sheets, evaluating robustness of CPI and pushing for digitisation in financial services
Many want Urjit Patel to cut interest rates to help revive private sector investments
The government on Saturday elevated Urjit Patel as the 24th Governor of the Reserve Bank
Market observers see Urijit Patel's appointment as a positive development and expect equity markets to give a mildly positive reaction
Top contenders for the RBI Governor's post are current Deputy Governor Urjit Patel and former deputy governor Subir Gokarn
Also still in contention are RBI deputy governor Urjit Patel, former deputy governor Subir Gokarn and SBI chief Arundhati Bhattacharya
To cut interest rates, the central bank head has to open up a debate on inflation target revision
All new RBI governors will now have to deal with the committee system, perhaps giving up many of the powers their predecessors enjoyed
Sources in the Finance Ministry said the government is close to picking a successor of Raghuram Rajan, whose reign will come to end on september 4
All RBI Governors in past 23 years have got second term, a chain Rajan broke
According to television reports, formal announcement will be made before July 18