Deputy governor in charge of monetary policy at the Reserve Bank of India since 2013, Urjit Patel will take over charge of the central bank, replacing Raghuram Rajan, the outgoing governor, who returns to the United States. Patel holds a bachelor's degree from the London School of Economics, a master...
Indian Currency Forecast to Give 2.6% Total Return by Year-End
While the rupee fell 0.4 percent against the dollar this year, flows from stock investors turned positive in March amid slower inflation, an improved current account and budgetary discipline. Including interest, investing in rupees will earn 2.6 percent from now until December 31, according to strategists’ forecasts compiled by Bloomberg,...
India's Central Bank Cuts Interest Rate Again in June
This month, the Ressreve Bank of India cut a key interest rate by a quarter percentage for the third time this year, to support government efforts to boost growth. Previous such cuts were effected in January and March. Per this policy, commercial banks can now borrow from the central bank ...
UK-India Business Leader Says Doing Business in India Has Become Easier
The Times of India interviewed Patricia Hewitt, Chair, U.K. India Business Council, the business-led organization that works with the British government to promote bilateral trade between the U.K. and India. She said in the interview that “the election of the Narendra Modi government, with a decisive mandate for growth and...
Christine Lagarde of IMF calls India a Bright Spot
Christine Lagarde, managing director of the International Monetary Fund, says that India a “bright spot” on a cloudy global horizon. She declared that India has the potential to double the size of its economy by 2019 compared to 2009. During her visit to India, Lagarde commented, “India's GDP will exceed...
India's Central Bank Cuts Interest Rate Again
BBC News reports that India’s central bank lowered its policy repo rate by 25 basis points to 7.5% after making a similar cut in mid-January. The repo rate is the level at which the central bank lends to commercial banks. Simon Atkinson, editor India Business Report says “…with India's push...