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The former RBI governor felt that there is an opportunity to create regional companies in Asia while Nepal PM KP Sharma Oli credited ties with India and China for its development.
India continued to be the fastest growing big economy during 2018 with its GDP rising at above 7 per cent, after having slipped to 6.7 per cent in the previous financial year.
Rajan said he has seen studies which reaffirm that banning of high-value currency notes in late 2016 impacted India's growth significantly.
Rajan, who was RBI governor for three years till September 2016, is currently teaching at the Chicago Booth School of Business.
This simply means India, a predominantly domestic consumption-driven economy, needs a much greater focus on macroeconomic stability than some of its Asian peers.
Rajan said that public sector banks still not adequately professionalised and there is a need to substantially improve risk management.
The problem is many who are entrusted with this, fear the chance of oil prices falling even further if you hedge it, but that has to be taken as a national consequence of the hedging programme.
Progress on the steps taken by Governor Shaktikanta Das' predecessor Urjit Patel to restore financial system integrity will be a key thing to assess any damage to the institution.
The 24th governor of RBI Urjit Patel Monday stepped down stating personal reasons for the decision.
In an exhaustive 66-page order, the panel pulled up the Prime Minister's Office for not complying with its directive to disclose the letter from former RBI Governor Rajan on bad loans.
Ahead of the November 19 meeting of RBI Board, the former Governor said the objective of the board is to protect the institution and not serve others' interests.
'Roving enquiry': PMO rejects RTI plea seeking info on bad loans submitted by ex-RBI governor Raghuram Rajan
The information sought is in the form of roving enquiry and does not come under the definition of 'information' as per Section 2(f) of the RTI Act, 2005, said PMO.
November 8, 2016. Over 87 percent of the currency in circulation was abruptly demonetised, causing untold misery to millions of citizens over the next few months.
After Raghuram Rajan's letter on bad loans, Modi government set to review all fraud complaints received
The top banker’s missive gave Opposition a chance to attack Prime Minister Narendra Modi, saying that PMO sat on the letter and took no action.
While the NCLT allowed Shivinder to withdraw his suit against his brother, it allowed Religare to move it for any recovery proceedings based on the allegations in his earlier petition.