- Tag results for Raghuram Rajan
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.
Mallya's claim reconfirms how Modi government enables big defaulters to loot public money: Sitaram Yechury
Yechury said the government did not act against big loan defaulters despite former Reserve Bank Governor Raghuram Rajan apprising it about them.
The comments had the Congress and the BJP locked in a slugfest with both parties defending the economic policies of their respective governments.
BJP MP Rajeev Chandrasekhar, who was among the first politicians to flag the NPA issue, has blamed reckless lending and a non-adept RBI for it.
Union Minister Smriti Irani categorically said Rajan's statement clearly proves it is the Congress which is responsible for the rising non-performing assets of banks.
Noting that system has been singularly ineffective in bringing even a single high profile fraudster to book, Rajan said, frauds are different from normal non-performing assets.
Read the complete transcript of Raghuram Rajan's note to Parliamentary Estimates Committee on banking NPAs.
In an interview, Rajan said it was important for the RBI to continue to give signal that it would keep inflation under check.
Rajan also made a case for strengthening the recovery process and distance public sector banks from the government.
No wonder with the opposition using it for political advantage, government spokespersons had been rushing to explain that demonetisation was not a complete failure.
The rupee today staged a good recovery to end higher by 20 paise at 69.91 against the US currency on bouts of dollar selling by exporters and corporates.
Rajan was invited after former Chief Economic Advisor Arvind Subramanian praised him before the Parliament's Committee on Estimates, headed by veteran BJP leader Murali Manohar Joshi.
At least a dozen govt officials, policy advisers and members of BJP told that policy making has mostly been handed over to Modi's own office and to a coterie of right-wing and nationalist economists.