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

* 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...

One of the methods of measuring the effectiveness of monetary policies is via inspection of monetary neutrality in the economy. It is a concept from classical economics and it suggests that changes in nominal variables do not have any impact on real variables. This paper studies the presence or...

The paper seeks to analyse and discuss the impact of financial reform and related institutional change on the process of financial intermediation. In effect reforms stood the earlier quantity driven model on its head. The attempt was to de-segment markets and remove asset and liability...

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...

The nature of the financial turbulence that happened recently in US and Europe, why it happened, where it happened, and the implications for central banks. Some of the forces that led up to and characterized the recent spate of events, the specific responses of central banks and some challenges...

A review of the various primary measures of inflation with a particular reference to the divergence between WPI and CPI. Focus is also given on different secondary (derived) measures of inflation, particularly core inflation, and end the discussion with some thoughts on the way forward. [Speech...

The article is a report of RBI Minister Duvvuri Subbarao on issuesing concerning the G-20 countries and also issues effecting all the countries collectively.

Management of capital accounts in the global context and in the Indian context. [Inaugural address delivered by Dr. Y. V. Reddy, Governor, Reserve Bank of India at the Annual Conference of the Indian Econometric Society].

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...