Raghuram Rajan

His comments add to warnings that the troubles at SVB and Credit Suisse are indicative of deeper underlying problems in the financial system

An SBI research report on Tuesday dismissed arguments that India is dangerously close to Hindu rate of growth saying such statements are "ill-conceived, biased and premature" in the wake of the recent GDP numbers and the available data on savings and investments. "Interpretations of GDP growth based on noisy quarterly numbers is a game of smoke and mirror," said the SBI report 'Ecowrap'. The report comes within days of former Reserve Bank Governor Raghuram Rajan saying that India is "dangerously close" to the Hindu rate of growth in view of subdued private sector investment, high interest rates and slowing global growth. Rajan said that sequential slowdown in the quarterly growth, as revealed by the latest estimate of national income released by the National Statistical Office (NSO) last month, was worrying. Hindu rate of growth is a term describing low Indian economic growth rates from the 1950s to the 1980s, which averaged 3.5 per cent. The term was coined by Raj Krishna, an Indi

Economists have a different view on Raghuram Rajan's apprehensions

Former RBI Governor Raghuram Rajan has expressed his concern over the decision of some states to restart the old pension scheme and suggested that some less costly ways should be found to address the demands of government pensioners. Rajan further said the old pension scheme does involve massive future outlays because of the indexation of pensions to current salaries. "This is an enormous obligation, not necessarily in the short run, but in the long run," he said, adding obviously, state governments have to think through the long-term implications for government finances, and whether civil servants are the most in need of help among the constituencies they deal with. Rajan, currently Katherine Dusak Miller Distinguished Service Professor of Finance at The University of Chicago Booth School of Business, said as he understands it, it may be infeasible technically or legally to move back to the old pension scheme. "If so, there may be less costly ways of addressing the concerns that .

The term was first used by the late economist Raj Krishna in 1978 to refer to the low rate of economic growth in the pre-liberalisation era

Sounding a note of caution, former Reserve Bank Governor Raghuram Rajan has said that India is "dangerously close" to the Hindu rate of growth in view of subdued private sector investment, high interest rates and slowing global growth. Rajan said that sequential slowdown in the quarterly growth, as revealed by the latest estimate of national income released by the National Statistical Office (NSO) last month, was worrying. Hindu rate of growth is a term describing low Indian economic growth rates from the 1950s to the 1980s, which averaged around 4 per cent. The term was coined by Raj Krishna, an Indian economist, in 1978 to describe the slow growth. The Gross Domestic Product (GDP) in the third quarter (October-December) of the current fiscal slowed to 4.4 per cent from 6.3 per cent in the second quarter (July-September) and 13.2 per cent in the first quarter (April-June). The growth in the third quarter of the previous financial year was 5.2 per cent. "Of course, the optimists w

Former RBI governor Raghuram Rajan has asked why SEBI has not yet got to the bottom of ownership of the four Mauritius-based funds who are said to have parked 90 per cent of their USD 6.9 billion in Adani group stocks, saying does the market regulator need help of investigating agencies for this? The funds -- Elara India Opportunities Fund, Cresta Fund, Albula Investment Fund and APMS Investment Fund -- have been under cloud for last couple of years after allegations that they may be shell companies. They came into focus once again in January when a US short seller alleged that Adani Group used offshore shell companies to inflate stock price. Adani Group has repeatedly denied all allegations. "The issue is of reducing non-transparent links between government and business, and of letting, indeed encouraging, regulators do their job. Why has SEBI not yet got to the bottom of the ownership of those Mauritius funds which have been holding and trading Adani stock? Does it need help from .

In an interview to online portal on sidelines of World Economic Forum (WEF) at Davos, Rajan said that reason why new pension scheme was adopted because in old scheme, huge liabilities had built up

'The idea that somehow cryptos are going to maintain value, while the fiat currencies collapse. That's nonsense'

Former RBI governor Raghuram Rajan on Tuesday said it is too premature to think that India will replace China when it comes to influencing global economic growth

The marked shift in the foreign-bank narrative in the post-reform period must also be seen in another context - the renewed talk of privatisation of a clutch of state-run banks

Union Minister Gajendra Shekhawat on Friday said former RBI governor Raghuram Rajan will soon come to change his views on Indian economy, which, according to Rajan, will be lucky to have a growth rate of 5 per cent next year. Countering Rajan's assessment of Indian economy, Shekhawat said that all major institutions, including the World Bank, have predicted that the country's growth rate next year will be between 7 and 8 per cent. Rajan had on Wednesday joined Rahul Gandhi's Bharat Jodo Yatra.' In an interaction during the Yatra, Rajan had said that the next year will be difficult for the Indian economy, which is going to be hit by economic downturn worldover. Indian interest rates have also gone up, but exports have been slowing. India's inflation problem is also going to be negative for growth. The country would be lucky if it grows at 5 per cent next year, Rajan had said in his assessment of the country. Shekhawat in his rebuttal to Rajan said only Rajan can explain the reaso

Rajan also pitched for creating a conducive environment for small and medium-scale industries and giving a push to a green revolution in the field of sustainable energy

Reserve Bank of India's former governor Raghuram Rajan on Wednesday joined Rahul Gandhi during the Congress-led Bharat Jodo Yatra in Rajasthan. The Bharat Jodo Yatra, which started from Kanyakumari in Tamil Nadu on September 7, is passing through Rajasthan. The yatra will complete 100 days on Friday. The yatra resumed from the Bhadoti area of Sawai Madhopur on Wednesday and reached Badhshapura for a morning break. Rajan walked with Gandhi during this leg of the yatra on Wednesday. "#BharatJodoYatra Shri Raghuram Rajan, former Governor of RBI, shaking steps with @RahulGandhi ji... The increasing number of people standing up to unite the country against hatred shows that we will be successful," The Indian National Congress tweeted along with a picture of Rajan walking with Congress leader Rahul Gandhi. Dr Raghuram Rajan was the 23rd Governor of the Reserve Bank of India between September 2013 and September 2016. Between 2003 and 2006, he was the Chief Economist and Director of Rese

Central banks must ask themselves if their policies were nimble enough when inflation shifted from low to a high regime, said Rajan

He said issues such as climate change and employment are peripheral to the central bank mandate and could be better dealt with direct polices.

A family man, a confident investor, someone who was sure two decades ago that India and its stock market were going to boom. T N Ninan recalls his chats with Rakesh Jhunjhunwala

Former RBI Governor Raghuram Rajan, while appreciating the Gothan and Godhan Nyay scheme of the Chhattisgarh government, said that work of improving livestock conditions is being done through them.

The comments came a day after former RBI governor Raghuram Rajan said India is not facing the kind of problems which have hit Sri Lanka and Pakistan.