Developments in the financial sector have led to an expansion in its ability to spread risks. The increase in the risk bearing capacity of economies, as well as in actual risk taking, has led to a range of financial transactions that hitherto were not possible, and has created much greater...

A brief overview is provided about India’s long-term growth performance. Then an attempt is made to set out the conditions for successful innovations. To assess the role of innovations in the Indian economy, the estimated contributions of productivity gains to real GDP growth is...

Although economic growth has improved in recent years in Bangladesh, the better economic performance has not translated into satisfactory poverty reduction. The type of growth that matters Bangladesh is the one that creates employment opportunities especially for the poor. In Bangladesh,...

The Reserve Bank of India, in its Annual Policy Statement on April 28, 2005, for the year 2005-06, announced its intention to reorient government debt management operations entailing functional separation between debt management and monetary operations within RBI. This first step initiating the...

* Repo Rate increased to 7.25 per cent from 7.0 per cent. * The flexibility to conduct overnight repo or longer term repo including the right to accept or reject tender(s) under the LAF, wholly or partially is retained. * Reverse Repo Rate, Bank Rate and CRR kept unchanged. * GDP growth forecast...

The FRBM Act was reflective of the shared commitment across political parties towards fiscal conservatism. A decade later, the picture, as reflected in the Union Budget, is yet to change for the better. And given the interests that the current Government represents, a real departure from the...

Statement by Dr. Raghuram Rajan on taking office on September 4, 2013. [RBI Press release].

When analyzing the appropriate response for monetary policy during a currency crisis it is important to keep in mind two distinct channels: (a) the impact of raising interest rates on exchange rates; and (b) the direct impact of exchange rate changes on output. The first pertains to the monetary...

The speech tries to underline some lessones that be drawn from the financial crisis relevant to regulation, financial markets and the market infrastructure and to reflect on these. [Annual Conference of Foreign Exchange Dealers’ Association of India (FEDAI) at Kolkata].

Options for monetary policy arising from interactions between it and Indian foreign exchange (FX) markets. A brief survey covers recent rapid changes providing a snapshot of current microstructure, and of monetary policy institutions. The survey brings out the growing links between money and FX...