While market determined exchange rate may be the mantra for the central bank, there may be times when there have to be active interventions.
India is a bright spot. It is growing at 7%-plus, the deficit has gone down quite a bit, and the government has made changes which are conducive to growth.
"Measures such as direct transfer of welfare to beneficiaries and the move to a uniform goods and services tax are among the reasons for optimism."
Rajan was at his sarcastic best when he quipped that bankers never tire of coming up with an excuse for why they won’t help customers.
Urjit Patel has nearly spent 44 months at the central bank as deputy governor but a search of Reserve Bank's website for his speeches throws up just one.
Tuesday could see the governor reiterating the virtues of prudent economic policies, be it monetary or fiscal, and emphasising the “bulletproof ” balance sheet.
Besides playing an active role in rupee devaluation as deputy governor, Rangarajan laid the foundation for modern Indian banking.
In this interview, Subbarao talks about his relationship with the the Finance Minister P Chidambaram, his tenure as RBI Governor and more.
Subbarao's tenure between 2008 and 2013 saw innumerable instances of meddling by the central government in various forms including publicly commenting about the interest rates.
India is better protected against global uncertainty because its economy is not as dependent on export income, Staley said.
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