While there were brickbats for his tight monetary policy that his critics called hawkish, there were any numbers of admirers for his stance they considered independent of the government, displaying the Central Bank's autonomy.
Defending the decision to allow corporates to enter the banking fray, outgoing Governor D Subbarao Thursday said as a knowledge institution, the Reserve Bank needs to change with times, and asserted that corporates will serve the economy better by entering the field.
Reserve Bank of India Governor Duvvuri Subbarao will share his perspective at an IMF conference here next month that will discuss policy pursued by various governments in the aftermath of global financial crisis.
Ahead of the monetary policy review next week, RBI Governor Duvvuri Subbarao is likely to discuss the prevailing domestic macro-economic as well as global situation with Finance Minister P Chidambaram on Thursday.
Reserve Bank Governor Duvvuri Subbarao Tuesday played down the CRR controversy between his senior most deputy and the nation's largest bank SBI, saying that he is not too sure whether the two will sink their differences before he demits office.
When central banks conduct open market operations (OMOs) driven by a need to provide liquidity to support government borrowing or reduce yields rather than for liquidity management, it "becomes a case of acquiescence in fiscal dominance," India's central bank chief said on Wednesday.
Reserve Bank of India Governor Duvvuri Subbarao said financial markets should not be under the impression that recent administrative steps that authorities have taken to curb speculation in foreign exchange are temporary.
The Reserve Bank of India is likely to begin easing monetary policy to address concerns about economic growth, Governor Duvvuri Subbarao said in a TV interview, reiterating comments made by the RBI when it kept rates unchanged on December 16.
India's economy is likely to grow less than 7.6 percent this fiscal year and the RBI's aim to bring inflation down to 7 percent by the end of March faces uncertainty over the rupee, oil prices, and the eurozone debt crisis, Reserve Bank of India Governor Duvvuri Subbarao said on Thursday.