Instead of asking regulators to relax norms, the govt should provide direct subsidy to infrastructure, said the outgoing RBI governor
RBI has allowed banks to offer credit enhancement to bonds issued by infrastructure projects that need substantial amounts of financing
This is a unique gesture from Zzungry to appreciate the commendable work done by Dr Rajan, said Ashish Kalya, Co-Founder, Zzungry
Food start-up introduces special dishes as a tribute to outgoing RBI governor Raghuram Rajan
Rajan stabilised the rupee, reined in inflation, attacked banks' stressed assets, reconstituted the monetary policy framework and allowed payments banks and small finance banks
When Rajan chooses to respond to a query, which is the norm rather than the exception, the responses are sprinkled with interesting anecdotes to drive home the point
Rajan succeeded in halving inflation rate from the double digit levels prevailing when he took over and also persuaded the govt to adopt inflation targeting
In an interview to a news channel he said the process of dialogue with the government did not reach a stage where he could have agreed to stay on
Some sugget his candid public speeches made the govt uncomfortable about reappointing Rajan for another term
Govt formally adopted Rajan's consumer price inflation target of 4% with 2% points elbow room on either side
His last policy review raises hope for continuity in RBI's actions
In a lighter vein, Rajan said he felt he was "underpaid" as PSBs tend to overpay at the bottom but underpay their top executives
SBI Chairperson Arundhati Bhattacharya got Rs 31.1 lakh in 2015-16, while HDFC Bank's MD Aditya Puri got Rs 9.7 crore
He urged the lenders to take a 'fresh look' at their security architecture
Rajan also said the person taking the responsibility should also be rewarded if the project goes on well
Government-owned lenders account for around 70 per cent of lending in Asia's third-largest economy
RBI had originally expected to raise $10 billion but eventually raised about $30 billion under the scheme
Says he has done 90-95% of what needs to be done
Rajan also said the central bank would likely pay a record-high dividend to the government
RBI Governor says if the central bank sees stress in currency market, it will take a call on infusing liquidity in the foreign exchange markets