Search Results for: Raghuram Rajan

discussed-global-economic-situations-and-relations-between-two-nations-with-us-treasury-secretary-j

Discussed global economic situations and relations between two nations with US Treasury Secretary: J

New Delhi, Feb 12 (ANI): Finance Minister Arun Jaitley after meeting US treasury secretary Jacob J Lew on Thursday said that the two discussed wide range of issues including global economic situation and also relations between the two nations. Jaitley said that the two discussed money laundering and terrorism funding, among others. Earlier, the two leaders met in the presence of RBI Governor Raghuram Rajan. Lew is in India to attend the fifth US-India Economic and Financial Partnership Dialogue in New Delhi. Feb 12, 2015
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Finance Minister Arun Jaitley meets US Treasury Secy Jacob Lew

New Delhi, Feb 12 (ANI): Finance Minister Arun Jaitley met US treasury secretary Jacob J Lew on Thursday. RBI Governor Raghuram Rajan was also present at the meeting. Lew is in India to attend the fifth U.S.-India Economic and Financial Partnership Dialogue in New Delhi. He recently met Indian business leaders in financial hub Mumbai at the Confederation of Indian Industry (CII) and US-India Business Council Roundtable ahead of the dialogue in Delhi that will focus on capital market reforms and economic policies between the two countries. Lew's trip to India marks the first Cabinet-level visit after the successful visit of US President Barack Obama to India last month. Feb 12, 2015
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RBI holds interest rates steady, says tracking inflation and government action

Mumbai, Feb 03 (ANI): Reserve Bank of India on Tuesday held interest rates steady while boosting banks' liquidity in a bid to persuade them to lower lending rates after they failed to pass on the benefits of the last official rate cut three weeks ago. The RBI kept its policy repo rate unchanged at 7.75 percent, as expected by analysts, leaving its next reduction probably until after the government presents its annual budget at the end of this month. Instead, to prod banks to lend more and lower their lending rates, the RBI cut the statutory liquidity ratio (SLR) - the minimum portion of net deposits that banks must hold in government bonds, cash or gold - by 50 basis points to 21.5 percent from February. 7. The RBI also announced a slew of initiatives to develop markets, including allowing foreign institutional investors to re-invest government bond coupons even when their investment limits were exhausted. The RBI described the domestic economy as "subdued", regardless of the government revision of gross domestic product data, using a new formula which showed the economy grew 6.9 percent in 2013/14, instead of 4.7 percent. Feb 3, 2015

PM Modi says committed to meeting budget deficit goal

New Delhi, Jan 17 (ANI): Prime Minister Narendra Modi has said that he is committed to meeting this year's budget deficit target, welcoming a cut in interest rates by the Reserve Bank of India (RBI) on the back of falling inflation. In a speech, Modi said his government would cut wasteful spending, streamline the payment of welfare benefits and raise investment in roads and railways to boost economic growth in Asia's third-largest economy. Modi's comments signalled his assent to RBI Governor Raghuram Rajan's call for "sustained high quality fiscal consolidation" as a condition for further monetary easing after a surprise quarter-point cut on Thursday. The 64-year-old prime minister said it would be difficult to revive economic growth but promised to deliver incremental reforms. Jan 17, 2015
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Politicos welcome RBI's decision to slash repo rate by 25 basis points to 7.75 percent

New Delhi, Jan 15 (ANI): Politicos on Thursday welcomed the Reserve Bank of India's decision to slash repo rate by 25 basis points to 7.75 percent. Reserve Bank of India Governor Raghuram Rajan took markets and corporate India by surprise early Thursday morning when he announced a long-awaited cut in the repo rate by 25 basis points to 7.75% with immediate effect. This is the first repo rate cut since May 2013. Finance Minister Arun Jaitley and Minister of State for the ministry also welcomed the decision and saw the same as beneficial for the nation building. Jan 15, 2015
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