360° Coverage : I am not a superman: RBI governor

11 Updates
I am not a superman: RBI governor
Photo Credit: , Getty Images

I am not a superman: RBI governor

Oct 13 2013, 9:36am CDT | by IANS

Washington, Oct 13 (IANS) With a "little bit of euphoria" surrounding him with the arrest of the Indian rupee's slide, RBI's new governor, Raghuram Rajan, has sought to temper expectations saying "I am not a superman".

Washington, Oct 13 — With a "little bit of euphoria" surrounding him with the arrest of the Indian rupee's slide, RBI's new governor, Raghuram Rajan, has sought to temper expectations saying "I am...

Filed under: news

YouTube Videos

 
 
 

46 weeks ago

I am not a superman: RBI governor

Oct 13 2013, 9:36am CDT | by IANS

Washington, Oct 13 (IANS) With a "little bit of euphoria" surrounding him with the arrest of the Indian rupee's slide, RBI's new governor, Raghuram Rajan, has sought to temper expectations saying "I am not a superman".

Washington, Oct 13 — With a "little bit of euphoria" surrounding him with the arrest of the Indian rupee's slide, RBI's new governor, Raghuram Rajan, has sought to temper expectations saying "I am not a superman".

Portraying himself as a regular guy with "a wife and two kids," he told a Washington audience Saturday what the country's central bank could do or not do.

"Expectations are high. There is a little bit of euphoria in India," said Rajan, a former Chief Economist at the International Monetary Fund (IMF) and economic adviser to Prime Minister Manmohan Singh, at an event at the Institute of International Finance.

But "clearly I am not a superman," said Rajan, who has often been portrayed in the media as a "rock star" of finance.

"We can do more than what a central bank in an industrial country can do. But we can in some ways do less," he said.

"On where we can do more, clearly there are a lot of low hanging fruit in the financial sector," he said.

Rajan, who was here to attend the just concluded annual Fund-World Bank annual meetings, said emerging market economies were less understood and financial sector reforms can be incredibly positive for growth going forward.

"I think, with the financial sector reforms, coupled with the real sector reforms, the growth turn around should be on its way," he said.

He noted that the Indian government was doing a "fair amount of reform" which needs little bit of time for the results to show up.

"The problem of being in academics and then getting into these positions is there is a well documented trail of thinking," said Rajan, who is currently on leave of absence as a professor of finance at the graduate business school at the University of Chicago.

India must not be seen as a country in crisis, he said, days after declaring that New Delhi would not run to the IMF for money for at least the next five years and maybe even beyond.

"We have $280 billion of forex reserves. Come on!" he exclaimed, adding that India was, in fact, lending to the IMF.

"I think the perception should change now."

He said India was facing turmoil in the financial markets but was away from any crisis-like situation.

"We are a country which has a debt of 66 percent of GDP, 90 percent of which is denominated in rupees. External debt was 22 percent of GDP and reserves at 15 percent of GDP. We can pay back all the short-term debt tomorrow," he said.

He said India has issues in the financial sector. There were inflation challenges; there was a need to get back to a high growth trajectory. "But these are certainly not crisis issues."

(Arun Kumar can be contacted at arun.kumar@ians.in)

IANS

Source: IANS

 
Update
11

1 week ago

UPA pressured me to drop names from CWG, coal reports: Vinod Rai

Aug 24 2014 8:04am CDT | Source: Business Standard

In fresh embarrassment to Congress, especially former Prime Minister Manmohan Singh, ex-CAG Vinod Rai has claimed he was pressurised by the UPA regime to drop certain names from audit reports in Coalgate and Commonwealth Games scams, triggering a ...
Source: Business Standard   Full article at: Business Standard
 

 
Update
10

1 week ago

UPA pressured me to drop names from CWG, coal reports: Rai

Aug 24 2014 1:55am CDT | Source: Business Standard

In fresh embarrassment to the erstwhile UPA regime, particularly to former Prime Minister Manmohan Singh, former CAG Vinod Rai has claimed that coalition functionaries had deputed politicians to get him leave out names from the audit reports in the ...
Source: Business Standard   Full article at: Business Standard
 

 
Update
9

1 week ago

Manmohan wanted to contact Pakistani militants: Yasin Malik

Aug 23 2014 5:05am CDT | Source: Business Standard

JKLF leader Yasin Malik has said then Indian prime minister Manmohan Singh wanted him to contact militants in Pakistan ...
Source: Business Standard   Full article at: Business Standard
 

 
Update
8

1 week ago

Father and friends

Aug 20 2014 10:55am CDT | Source: Business Standard

Thanks to the huge explosion of uninformed opinion, no other prime minister has had to bear so much hate and, worse, ridicule as Manmohan Singh. How did his family react to this tsunami of abuse, jokes and even insults?Daman ...
Source: Business Standard   Full article at: Business Standard
 

 
Update
7

1 week ago

Manmohan Singh immune as PM, not as FM: US court

Aug 20 2014 12:00am CDT | Source: Business Standard

US District Judge ruled that Manmohan Singh was entitled to "residual immunity" even after he ceased to b ...
Source: Business Standard   Full article at: Business Standard
 

 
Update
5

2 weeks ago

Same difference

Aug 18 2014 10:39am CDT | Source: Business Standard

Of the two prominent blue-turbaned invitees at the President's At Home one was former prime minister Manmohan Singh, who sat in a VIP enclosure out of bounds for the media, and the other was Montek Singh Ahluwalia, ...
Source: Business Standard   Full article at: Business Standard
 

 
Update
4

2 weeks ago

Manmohan Singh joined pre-medical course, backed out: Daughter

Aug 17 2014 1:55am CDT | Source: Business Standard

Manmohan Singh had joined a pre-medical course as his father wanted him to become a doctor but pulled out after a couple of months, losing interest in the subject, according to a book on the former prime ...
Source: Business Standard   Full article at: Business Standard
 

 
Update
3

3 weeks ago

Ex-CJI Balakrishnan pushed for elevation of corrupt judge: Katju

Aug 11 2014 1:27pm CDT | Source: HeadlinesToday.in

In his blog, PCI chairperson Justice Markandey Katju had charged three former Chief Justices of India including YK Sabharwal and KG Balakrishnan of succumbing to the pressure from the the ...
Source: HeadlinesToday.in   Full article at: HeadlinesToday.in
 

 
Update
2

4 weeks ago

No files from PMO went to Sonia, says Manmohan

Jul 31 2014 6:55am CDT | Source: Business Standard

Former prime minister Manmohan Singh Thursday denied that any files were sent from the Prime Minister's Office to Congress president Sonia Gandhi's office as claimed by former party leader ...
Source: Business Standard   Full article at: Business Standard
 

 
Update
1

5 weeks ago

HDFC Bank Could Make You A Slumdog Millionaire

Jul 29 2014 7:45am CDT | Source: SeekingAlpha

By Mohit Hajarnis:When looking at India from the outside, it seems like a natural growth story: a potential market of 1.2 billion people, a growing middle class, and cheaper labor costs than China. However, India's GDP growth has shrunk to 5.0% in 2013 from 6.2% in 2012 and 9.3% in 2011. The slowing growth is reflective of the cumbersome regulatory environment that India has created: the country has earned the infamous ...
Source: SeekingAlpha   Full article at: SeekingAlpha
 

 

Don't miss ...

 

blog comments powered by Disqus

Latest stories

US doctor tests positive for Ebola in Liberia
Washington, Sep 3 (IANS) An American missionary doctor working in Liberia has tested positive for the Ebola virus, his organisation SIM USA announced Tuesday.
 
 
IS video shows beheading of second US journalist
Washington, Sep 2 (IANS) Days after the beheading of American photojournalist James Foley, Sunni militant group Islamic State (IS) has posted a video showing the beheading of another kidnapped American journalist Steven Sotloff, CNN reported.
 
 
IS beheads second US journalist
Washington, Sep 2 (IANS) The Islamic State militant organisation has posted a video titled "A second message to America", showing the beheading of American journalist Steven Sotloff, CNN reported.
 
 
India offers red carpet, not red tape, Modi hard sells India (Roundup)
Tokyo, Sep 2 (IANS) Prime Minister Narendra Modi Tuesday hard sold India to Japanese investors saying that his country offers only a red carpet and not red tape while dubbing his five-day trip to Japan that ends Wednesday as "very successful".
 
 
 

Latest from the Network

Over 7,200 killed in Syria in August
Cairo, Sep 3 (IANS/EFE) As many as 7,219 people have been killed in Syria in August as fierce fighting continued due to the three-year-old civil war in the country, the Syrian Observatory for Human Rights said Tuesday...
Read more on Politics Balla
 
US doctor tests positive for Ebola in Liberia
Washington, Sep 3 (IANS) An American missionary doctor working in Liberia has tested positive for the Ebola virus, his organisation SIM USA announced Tuesday. The doctor was treating obstetrics patients at ELWA...
Read more on Business Balla
 
Anastacia slams Kim, Kanye
Los Angeles, Sep 3 (IANS) Singer Anastacia slams reality TV star Kim Kardashian and her husband Kanye West saying their need for attention is just so ill placed. The 45-year-old hit out at the star couple for having...
Read more on Celebrity Balla
 
EU to decide on new sanctions on Russia
Brussels, Sep 3 (IANS) The incoming European Union (EU) foreign policy chief Federica Mogherini Tuesday said the EU leaders will decide on new sanctions on Russia by Friday. "The package (of further sanctions) will be...
Read more on Politics Balla
 
Israel 'stands by' new land appropriation in West Bank
Jerusalem, Sep 3 (IANS) Israeli Foreign Minister Avigdor Lieberman Tuesday said his country "stands by its decision" to appropriate 1,000 acre land in the West Bank. "Gush Etzion settlement bloc reflects a wide...
Read more on Politics Balla
 
Jolie's wedding dress featured her kids' drawings
Los Angeles, Sep 3 (IANS) Actress Angelina Jolie walked down the aisle in a wedding gown with various coloured illustrations drawn by her children. She married actor Brad Pitt Aug 23 in France and on her wedding day,...
Read more on Celebrity Balla
 
UN chief welcomes lifting of Iraqi town siege
United Nations, Sep 3 (IANS) UN Secretary-General Ban Ki-moon Tuesday welcomed the end of militant siege on the northern Iraqi town of Amerli, saying it averted "a major humanitarian disaster". Ban welcomed the...
Read more on Politics Balla
 
Second beheading plunges Obama into top crisis
Washington, Sep 3 (IANS) Just two weeks after beheading American photojournalist James Foley, the Islamic State (IS) Sunni extremist organisation sent what it called "A second message to America", with a video showing...
Read more on Politics Balla
 
11 killed in Pakistan building collapse
Islamabad, Sep 2 (IANS) At least 11 people, including women and children, were killed Tuesday when a roof of an old building collapsed in Pakistan, a media report said. As many as 18 people were wounded when a two-...
Read more on Politics Balla
 
Imran refuses to budge as parliament supports Pakistan PM (Roundup)
Islamabad, Sep 2 (IANS) Pakistan Tehreek-e-Insaf (PTI) chairman Imran Khan refused to budge on his demand for Prime Minister Nawaz Sharif's resignation Tuesday as a joint session of parliament came out overwhelmingly...
Read more on Politics Balla