In his first comments since resigning as RBI Governor amid sharp differences with the government, Urjit Patel said banks indulged in over-lending, while the government did not "fully play" its role, and also conceded that the regulator should have acted earlier.
The central bank’s controversial ‘February 12 circular’ — which tightened the framework for the resolution of stressed assets — has been struck down by the Supreme Court. What had the RBI intended to do, and what impact is the court order likely to have?
Shaktikanta Das, in his new position in the RBI will be surrounded by reliable economists. His challenge will be more about making sound ethical judgments (hopefully), while keeping the powers-that-be, happy. That’s an art in itself, learnt only from the university of hustle and experience.
The Reserve Bank of India on Wednesday announced that the repo rate would remain unchanged at 6.25 per cent. Consequently, the reverse repo rate under the LAF remains unchanged at 5.75 per cent, and the marginal standing facility (MSF) rate and the Bank Rate at 6.75 per cent. Governor Urjit Patel announced that the central bank […]