Rajan enters RBI with a big bang of financial sector reforms - on his first day as new chief of Reserve Bank of India, Raghuram Rajan unveiled plans to...

Livewire News

Livewire

Rajan enters RBI with a big bang of financial sector reforms - on his first day as new chief of Reserve Bank of India, Raghuram Rajan unveiled plans to liberalise and spread financial services across the nation of 1.3bn people. The measures announced by Mr Rajan - who will make his first substantial statement on monetary policy in two weeks - are aimed at freeing India's banks from the web of state controls that have stifled the sector since independence in 1947. One aim is to bring financial services to the poor for the ultimate benefit of the economy as a whole. The Indian public would benefit from more competition between banks, and banks would benefit from more freedom in decision-making, he said. Rajan won a reputation as an economist for having warned of the financial risks that precipitated the global crisis in 2008. (VIEW LINK)


1 topic

Livewire News
Livewire News
Livewire

Livewire News brings you a wide range of financial insights with a focus on Global Macro, Fixed Income, Currencies and Commodities.

Expertise

No areas of expertise

I would like to

Only to be used for sending genuine email enquiries to the Contributor. Livewire Markets Pty Ltd reserves its right to take any legal or other appropriate action in relation to misuse of this service.

Personal Information Collection Statement
Your personal information will be passed to the Contributor and/or its authorised service provider to assist the Contributor to contact you about your investment enquiry. They are required not to use your information for any other purpose. Our privacy policy explains how we store personal information and how you may access, correct or complain about the handling of personal information.

Comments

Sign In or Join Free to comment