Government pushes for monetary easing despite central bank doubts While India swelters in record high June temperatures, senior officials in Prime Minister Narendra Modi’s government are sweating for another reason. The heat is coming from a debate over whether the country is poised for a V-shaped recovery after last November’s shock demonetization or if it…
A day after his half-yearly monetary policy review, Reserve Bank of India (RBI) Governor Duvvuri Subbarao met with Chaitanya Kalbag and Anand Adhikari to explain the intent of the bank’s policy actions. He also spoke about the growth-inflation debate and the perceived differences between the central bank and the finance ministry. Edited excerpts: What has…
Chaitanya Kalbag, Contributing writer Urjit Patel’s first press conference as governor of the Reserve Bank of India on Oct. 4 was notable for several reasons. The new keeper of India’s monetary flame, just shy of his 53rd birthday, was ill at ease. Very clearly the antithesis of his loquacious predecessor Raghuram Rajan, Patel’s “media interaction”…