Delivering the keynote address at the 2019 ECOSOC Forum on Financing for Development at the UN Headquarters on Monday, Rajan said the open liberal democratic market system that brought the world enormous prosperity in the six decades or so after the Second World War is now under attack.
"In India, there is a certain amount of rural-urban divide which is due to the farm distress and the traditional problem of poverty which despite our progress has not been eliminated," says former RBI Governor Raghuram Rajan.
Very likely, and I am speculating, it was because of the opposition of Congress’s economic consultants that there were glaring and obvious contradictions in the Congress’s Minimum Income Guarantee (MIG) income, and the contradiction between survival and poverty line income.
Raghuram Rajan, a former Chief Economist at the International Monetary Fund who was denied a second term as Reserve Bank Governor by the BJP-led government, said he is "very happy" where he is, but is open to opportunities.
The Reserve Bank of India left its policy rates unchanged in its second bi-monthly monetary policy review for this financial year. The benchmark repo rate, at which RBI lends to banks, is unchanged at 6.5% as the central bank as it took cognisance of rising inflation in recent months. Consumer price index inflation jumped to […]
Criticised among others by Commerce and Industry Minister Nirmala Sitharaman for describing the Indian economy as ‘andhon mein kana raja’, Reserve Bank of India (RBI) Governor Raghuram Rajan, while apologising to “a section of the population that I did hurt, the blind”, said “listeners should not look for insults everywhere, and should place words in […]
Speaking at the inaugural Ramnath Goenka Lecture series in New Delhi, RBI Governor Raghuram Rajan Saturday said that large scale debt write-offs are difficult in the current economic climate. Rajan went on to say that we cannot paint lenders and borrowers with the same brush. “If you start investigating every loan gone bad, I think […]
Mumbai/New Delhi, Feb 12 (ANI): Reserve Bank of India (RBI) Governor Raghuram Rajan said that efforts of the federal bank and the government to clean up banks' balance sheets would be successful and warned analysts against "scare-mongering"about the level of stressed assets in the sector. India's banks are struggling under $100 billion of stressed loans, choking the financial system at a time when the economy needs fresh investment to galvanise growth. Minister of State for Finance Jayant Sinha said the government, while working closely with RBI, was supporting the banks fully in terms of both capital as well as necessary policy measures. He also said that they have gone through and done the asset quality review and have identified the full extent of the problem.