RBI unlikely to speed up rate cuts
The GDP growth projection of 5% for this fiscal put out by the Central Statistical Organisation (CSO) recently was disappointing but it may not be enough for more rate cuts. Read more
D. Subbarao
Controlling inflation our prime duty: RBI Governor D Subbarao
RBI Governor D Subbarao recently said that reducing inflation is his priority now and will remain so in future. With the RBI’s monetary policy up for review on January 29, Subbarao’s statement assumes significance. Addressing a crowd of villagers and state government officials at village Lalpur Karauta in Barabanki district during an RBI outreach program, Subbarao said controlling inflation is our prime duty. Read more
RBI extends Basel III implementation time
The Reserve Bank of India (RBI) has extended the date for implementation of Basel III, the global capital norms for banks, by three months to 1 April. “The Reserve Bank of India has rescheduled the start date for implementation of Basel III to 1 April 2013 from 1 January 2013,†the central bank said. Read more
New bank licences: Waiting for Godot
Finance minister P. Chidambaram has kept his word. He has pushed through an amendment to banking laws in Parliament to strengthen regulatory powers of the Reserve Bank of India (RBI) even if that meant dropping a clause in the Bill that would have allowed commercial banks’ entry into commodity futures trading. Read more
