urjit patel

Less than a month into Modi 2.0, a deputy governor of India’s central bank has quit, media reports say

Less than a month into Modi 2.0, a deputy governor of India’s central bank has quit, media reports say

Viral Acharya had differences with governor Shaktikanta Das, media reports say.
India’s latest economic data spells bad news for Modi in poll season

India’s latest economic data spells bad news for Modi in poll season

Factory output has fizzled, and inflation is at a four-month high.
India’s central bank finally toes the line, pays $4 billion advance to government

India’s central bank finally toes the line, pays $4 billion advance to government

The money will help the government fund its pre-poll sops.
A year on, India is still reeling from its biggest bank fraud while the perpetrators are at large
Indian consumers are feeling optimistic, but nobody knows why

Indian consumers are feeling optimistic, but nobody knows why

Consumer confidence was at a two-year high in December.
Five key takeaways from India’s new central banker’s maiden policy review

Five key takeaways from India’s new central banker’s maiden policy review

With a rate cut and a change in stance, Shaktikanta Das has managed to woo industries and investors in his maiden monetary policy announcement as…
India’s central bank wants to open up the payments ecosystem to avoid monopoly risks

India’s central bank wants to open up the payments ecosystem to avoid monopoly risks

The spectre of a “too-big-to-fail” moment in India’s retail payments sector has the central bank worried. And this may soon open the doors to many…
India’s courts are unlikely to fix the crypto crisis anytime soon

India’s courts are unlikely to fix the crypto crisis anytime soon

The courtroom battle between India’s cryptocurrency exchanges and the central bank is set for its next hearing today—but nobody expects an end to the stalemate.…
PayPal says e-wallets will soon be extinct in India

PayPal says e-wallets will soon be extinct in India

India’s transformation to a cashless economy is beset with difficulties. While the number of payment firms in the country has grown rapidly, the volume of…
India’s central bank is betting on this technology to make online card transactions safer

India’s central bank is betting on this technology to make online card transactions safer

Digital transactions in India are booming—so is cybercrime. And the Reserve Bank of India (RBI) is keenly watching. On Jan. 08, the central bank put…
India’s Rs2,000 notes were always meant to be phased out

India’s Rs2,000 notes were always meant to be phased out

India’s crisp, pink Rs2,000 notes are a grim reminder of the massive demonetisation exercise prime minister Narendra Modi’s government undertook in November 2016. The overnight…
India’s central bank throws a lifeline at debt-hit small businesses

India’s central bank throws a lifeline at debt-hit small businesses

India’s central bank has doled out a new year’s gift to the country’s small enterprises reeling from the double whammy of demonetisation and the goods…
Narendra Modi says he cleansed the Indian economy and now it is primed for growth

Narendra Modi says he cleansed the Indian economy and now it is primed for growth

Narendra Modi hasn’t wasted any time. The Indian prime minister began 2019, a year he will be seeking re-election, with a broad defence of even…
Ten events that rocked India’s banking industry in 2018

Ten events that rocked India’s banking industry in 2018

When the over 150-year-old US investment bank Lehman Brothers went bust in September 2008, it sparked a global financial crisis and a gradual erosion of…
India throws another lifeline at its struggling government banks

India throws another lifeline at its struggling government banks

India wants to expedite the process of pulling its ailing state-owned banks out of the woods. The government will soon seek parliament’s nod to sanction…
S&P warns of disastrous consequences if Indian central bank loses its autonomy

S&P warns of disastrous consequences if Indian central bank loses its autonomy

Global credit-rating agencies are sounding caution against the perceived threat to the Indian central bank’s autonomy. S&P Global Ratings yesterday (Dec. 17) warned that the…
Charted: Narendra Modi’s big bad jobs problem ahead of India’s 2019 elections

Charted: Narendra Modi’s big bad jobs problem ahead of India’s 2019 elections

The spectre of jobless growth is haunting India. Despite being the world’s fastest-growing major economy, India’s employment rate declined from 43.5% in January 2016 to…
Modi is now a struggling prime minister saddled with a troubled economy

Modi is now a struggling prime minister saddled with a troubled economy

It was dubbed the “semi-final” before the national elections of 2019. So the big two national outfits—the Bharatiya Janata Party (BJP) and the Indian National…