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...
JPMorgan Expands Footprint in India
New York-based JPMorgan Chase & Co. will open three branches in India, even as global competitors HSBC and UBS are scaling back to cut costs and bolster capital. JPMorgan is witnessing an increasing level of cross-border activity among its clients as they capture more business driven by India's economic growth, Madhav...
Global Regulators Confer Top Ratings on India’s Financial Market
The International Organization of Securities Commissions and the Bank for International Settlements annually evaluate the implementation status of the international Principles for Financial Market Infrastructure in various countries, and assign rating that are considered a global standard for the financial sector.In the assessment for 2015, which took into account regulations...
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 ...
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...
Rising Optimism for Doing Business in India
The environment for foreign investments in India started improving a short time before Narendra Modi was elected prime minister on a business-friendly reform agenda in May 2014. United Arab Emirates’ Etihad Airwas acquired a stake in India’s largest corporate carrier, Jet Airways. As a result of this deal, the U.A.E....