Search Results for: Raghuram Rajan

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RBI governor says fiscal discipline key for economic growth

New Delhi, May 21 (ANI): RBI governor Raghuram Rajan has reiterated his call for fiscal discipline. Rajan stated that it is essential for the country to achieve sustainable economic growth. Although the comments were part of a broader speech on public sector banks, they come as India's newly elected government led by Narendra Modi is set to face its first credibility test with markets when it delivers a budget by July. Rajan repeated his call while noting that India would not always be able to rely on banks to buy a large portion of its government debt as it usually does. Banks, in turn, raise the funds needed to buy the bonds by attracting deposits from retail investors. May 21, 2014
Pfizer raises bid for AstraZeneca to $117 billion

Pfizer Raises Bid for AstraZeneca to $117 Billion

U.S. drugmaker Pfizer said on Sunday it had raised its offer for British rival AstraZeneca to 69.3 billion pounds ($116.6 billion), or 55 pounds a share, and would walk away if AstraZeneca did not accept it. May 19, 2014
A supporter of BJP waves the party flag during celebrations after learning of initial poll results outside the party headquarters in New Delhi

Five Challenges for Modi's New Government

A landslide election victory for Narendra Modi's Bharatiya Janata Party (BJP) has created euphoria in India's financial markets, driving shares to life-time highs and the rupee to its strongest level against the dollar in 11 months. May 17, 2014
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RBI, finance ministry talk contingency plan for May 16

Shimla, May 16 (ANI): RBI Chief Raghuram Rajan has stated that it is prepared to deal with any excessive volatility from election results to be unveiled on Friday. The RBI will also be ready to deal with any volatility in the rupee, Rajan said this during a news briefing in Shimla after discussing the contingency plans with the finance ministry and the stock market regulator. On inflation, Rajan said food prices were still a concern. May 16, 2014
A customer hands a bundle of Indian Rupee currency notes to a teller at a financial institution in Mumbai (Reuters)

Rupee Hits Near 10-month High, Biggest Gain in Three Weeks

The rupee strengthened to its highest level in about 10 months on Thursday, while also posting its biggest single-day gain in nearly three weeks on the back of sustained dollar inflows into domestic shares ahead of election results. May 15, 2014
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Prepared for volatility after record surge in markets: RBI Chief

New Delhi, May 14 (ANI): Indian markets are so confident the BJP led by Narendra Modi will win the country's elections that brokers fear anything short of a decisive victory could spark the worst sell-off in years. Reacting over this, RBI governor Raghuram Rajan said that measures are in place to check any kind of volatility in the markets in next few days. Rajan said this after meeting Finance Minister P Chidambaram, who asked regulators to remain alert and take necessary actions to curb excessive volatility. Exit polls for the world's biggest election indicate that voters have turfed out the coalition government led by the Congress party, which has presided over a slump in economic growth and been troubled by a string of corruption scandals. May 14, 2014
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RBI Chief Stresses his Independence from Government

The head of the Reserve Bank of India (RBI) said on Friday that he - and not the government - was responsible for setting monetary policy, asserting his independence in taking a hawkish stance on inflation amid an election hinging on how to revive economic growth. May 10, 2014
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Market Expert on RBI policy

New Delhi, Apr 1(ANI): The Reserve Bank of India (RBI) Governor Raghuram Rajan on Tuesday held a press conference on the RBI credit policy wherein he held the Repo rate steady at 8 per cent, reverse repo rate at 7%, and CRR unchanged at 4% in line with expectations of the stock market. Reacting over this, market expert Akash Jindal said that the credit policy is up to the expectation level. Jindal further said that since the rates of interest have not been increased by the RBI, there will be no impact on Real estate, stock market and economy. Apr 1, 2014
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