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It was baptism by fire: Subbarao on early day as RBI governor

It was baptism by fire: Subbarao on early day as RBI governor

"It was baptism by fire," Duvvuri Subbarao said as he recounted his early months as governor of the Reserve Bank of India in 2008, a time when Lehman Brothers collapsed and pushed the global financial sector into a "near death" experience.


Inflation hits poor the most, RBI must listen to them: Subbarao

Inflation hits poor the most, RBI must listen to them: Subbarao

Reserve Bank of India has to listen to voices of the poor who are hurt the most by inflation, its former Governor Duvvuri Subbarao said adding that cutting interest rates is not necessarily the solution to stimulate investment.

RBI to rollback steps after stabilisation of forex market

The Reserve Bank on Friday said liquidity tightening measures will be rolled back only after stability is restored in the forex market as volatility hurts growth.

Subbarao refuses to give timeframe for liquidity curb rollback

The Reserve Bank on Thursday did not give any time-frame for roll-back of liquidity tightening measures and said that they would remain in force till stability is achieved in the foreign exchange market.

Inflation data will be factored in RBI policy: Subbarao

Reserve Bank Monday said it will take into account the inflation numbers, which rose in June to 4.86 percent after four months of decline, while formulating the first quarter monetary policy review due later this month.

Difficult to predict rupee fall reversal: Subbarao

Attributing the decline in Rupee to global factors, Reserve Bank Governor D Subbarao Thursday said it would be difficult to estimate when the situation will improve.

RBI to intervene in forex market only to curb volatility: Subbarao

The Reserve Bank on Friday said it is not targeting any exchange rate but will intervene in the forex markets only to curb volatility and prevent disruption of macroeconomic stability.

Subbarao doesn't like being called inflation warrior

Subbarao said it was equally important to save the poor from the impact of high inflation which was nothing but "regressive tax."

No threat of stagflation, RBI sensitive to growth: Subbarao

RBI Governor D Subbarao on Monday allayed fears of stagflation in the economy and asserted that the central bank is sensitive to growth concerns but not at the cost of higher inflation.

Provide banking facilities in each town: RBI to banks

RBI Governor D Subbarao Wednesday asked banks to meet the target of providing banking facilities to small towns soon.

No new banking licences without legal backing: Subbarao

A day after Finance Minister P Chidambaram asked the Reserve Bank to speed up the process of issuing new bank licences, Governor D Subbarao on Friday said it would be not possible without fulfilling the enabling conditions for the same.

RBI says it will step in if growth slips below 5.5%

A day after lowering country's growth forecast to 5.8 percent, the Reserve Bank Wednesday said it will step in if economic expansion falls below the current levels of 5.5 percent.

RBI won't intervene in market to beef up forex reserves: Subbarao

The Reserve Bank Wednesday said it will not intervene in the foreign exchange market to increase reserves, but will step in from time to time to check extreme volatility in rupee.

Govt should restrict its role in banks: RBI

The Reserve bank on Thursday expressed concern over the government "occasionally exercising" its ownership rights in banks and financial institutions through channels outside of their boards, and asked it to show exemplary corporate governance.

Exchange rate is always on RBI radar: Subbarao

Subbarao said the rupee had depreciated 14 percent since early August due to inflationary pressures.

2G case: Govt refutes Behura, defends Subbarao

Union Telecom Minister Kapil Sibal, Thursday said that then finance minister P Chidambaram and finance secretary D Subbarao had no role in the 2G case.

RBI governor allays concerns over capital inflows

The Reserve Bank of India on Thursday allyed concerns about capital inflows building an asset bubble and said it is keeping a vigil on these.

India confronted with upturn in inflation: Subbarao

The RBI Governor on Tuesday said India is confronted with an upturn in inflation and the challenge for the bank is to support the recovery process without compromising on price stability.

Subbarao, bankers discuss credit growth, interest rate hikes

Ahead of its second monetary policy review that is on October 27, Reserve Bank Governor D Subbarao on Monday disscussed with bankers credit growth, interest rate hikes and inflation.

Deficient rain cause of worry, RBI to act when needed

Poor monsoon is a matter of concern and could affect food prices, but the time is not ripe for the Reserve Bank to act, its Governor D Subbarao said
on Friday.