Post T Rabi Sankar’s appointment as deputy governor, the Reserve Bank of India (RBI) has redistributed the portfolios of the deputy governors. Sankar was named the fourth Deputy Governor of the central bank, succeeding B P Kanungo, who retired on April 2 after getting a one-year extension. Rabi Sankar now joins Mahesh Kumar Jain, Michael Patra, and Rajeshwar Rao as the fourth deputy governor of the central bank. Sankar has been given portfolios such as the department of currency management, external investments and operations, government and bank accounts, information technology, payment and settlement systems, foreign exchange department, internal debt management, and right to information division.
MPC minutes: Member calls for highest policy attention to allay financial stability fears
Although banks have bolstered their capital buffers in comparison to the global financial crisis, the stress in the financial sector s balance sheets could intensify, noted MPC member Michael Debabrata Patra
BusinessToday.In | February 22, 2021 | Updated 22:53 IST
During the Monetary Policy Committee meeting earlier this month, one of members pointed out the potential threat to financial stability as measures to ease the coronavirus pains are removed. Michael Debabrata Patra called for measures to ensure long-term support to nascent recovery in credit growth, as per the minutes from the meeting.
‘Accommodative monetary policy stance needed to strengthen economic recovery
February 22, 2021
All six members of the monetary policy committee (MPC) were on the same page with regard to strengthening the ongoing economic recovery even as a majority of them flagged the persistence in core inflation, according to the minutes of the MPC.
At its meeting held on February 5, the MPC decided to keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 4 per cent.
It also decided to continue with the accommodative stance as long as necessary – at least during the current financial year and into the next financial year. The Reserve Bank of India (RBI) released the minutes of MPC meeting on Monday.
Read more about MPC minutes: Unwinding high indirect taxes on fuel critical, says Das on Business Standard. Fall in inflation gives MPC room to continue to support growth in economy
As the business and workplaces open up after months of lockdown, migrant workers are gradually heading towards cities in search of livelihood. To avoid the repetition of the migrant crisis the nation witnessed in the beginning of the lockdown, has the government thought out any strategy?
Aug 19, 2020