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Why IMF evaluators want India-style capital controls to be adopted around the world

While capital controls may be useful in maintaining financial stability, Indian experience suggests IMF should focus on yardsticks of transparency, rule of law.
Salon employees wear PPE kits to attend to customers | Photo: ANI

Expensive haircuts, rising cost of services are new retail inflation hurdles RBI will face

Services inflation surged to 4.8% in September from a year ago, compared with 4.4% in February before the coronavirus outbreak, according to estimates by Citigroup Inc.
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Off The Cuff with Raghuram Rajan

Raghuram Rajan, former Reserve Bank of India governor and the Katherine Dusak Miller Professor of Finance at Chicago Booth  was the guest at ThePrint's Off the Cuff.In a conversation with Editor-in-chief Shekhar Gupta, Rajan shares his assessment of the Indian economy and the actions taken by the Narendra Modi government in handling the pandemic and the resultant consequences. Loss of jobs and livelihoods during the pandemic may leave Indians more impoverished, Rajan said. He also talked about how demonetization, the implementation of the goods and services tax and the government's handling of the Covid lockdown have dealt a body blow to the economy. He also delved upon why India needs to bring in comprehensive reforms and pointed out how the last set of serious growth enhancing reforms were during the first tenure of the National Democratic Alliance which ruled between 1999 and 2004. He also weighed in on what Bangladesh has...
Illustration: Ramandeep Kaur | ThePrint

Banks need relief too, helping only borrowers will hamper next round of credit growth

As the moratorium on loan repayments ends, the government will have to answer the key question about how to treat defaulting borrowers.
An employee counts Indian rupee banknotes at a Walmart Inc. Best Price Modern Wholesale store in Hyderabad, India, on 16 March 2019 (Representational Image) | Photo: Dhiraj Singh | Bloomberg

Your credit score won’t be impacted if you opt for loan restructuring. Here is why

Credit history only after debt recast would be taken into account for new loans. Banks will allow recast only if income impacted between February and August.
RBI Governor Shakikanta Das speaks Friday | Photo: ANI

From Tolstoy to cricketing analogy – how RBI governor is trying to demystify central banking

RBI governor Shaktikanta Das Friday used cricketing analogies to describe how certain sectors of the economy are expected to play out.
Illustration by Ramandeep Kaur | ThePrint

Covid is declining, Modi govt is trying to get it right on the economy. End of the beginning?

Amid investment slowdown, companies are moving electronic assembly from China to India. New agri marketing laws & work conditions also spell opportunity.
RBI Governor Shakikanta Das speaks Friday | Photo: ANI

Consumers’ confidence hits new low, but they are hopeful about next year, RBI survey shows

Consumer confidence index for current situation sank to 49.9 from 53.8 in July, but future expectation index rose about 10 points to 115.9.
The Reserve Bank of India | Photo: Suraj Singh Bisht | ThePrint

RBI says GDP will contract by 9.5% in FY21, holds repo rate at 4% amid modest recovery

Barring a second wave, India stands poised to shrug off the deathly grip of the virus and renew its tryst with its pre-Covid growth trajectory, says RBI Governor Das.
Illustration by Ramandeep Kaur

RBI’s new MPC should focus on transmission. Without that, more rate cuts can be pointless

RBI must work towards better transmission mechanism, for which India needs deep & liquid bond market, competitive banking sector & regulatory framework.

On Camera

Plastic pollution in water bodies

Banning glitter is not going to save the oceans

Humans release 1.5 million tons of primary microplastics into the ocean annually, a sum equivalent to one disgorged plastic bag for every person each week.

Karnataka High Court stops Franklin Templeton debt funds closure without investor consent

Franklin Templeton shut six of its fixed-income and credit-risk funds run in India in April, locking in Rs 308 billion of investor monies following a liquidity crisis.

Defence

Defence Minister Rajnath Singh at Sukna Military Camp in Darjeeling district on Saturday | ANI

India wants to end border row with China, but will not cede an inch of land, says Rajnath Singh

The defence minister was speaking after performing 'Shastra Puja' at the Sukna-based headquarters of the Indian Army's 33 Corps in Darjeeling on the occasion of Dussehra.
Illustration: Soham Sen/ThePrint

Trump or Biden? Doesn’t matter to India-US ties as they’re in a full, strategic embrace

Pompeo & Esper’s visit to India for the 2+2 talks is proof that old hypocrisies are history, and supreme national interest has again driven a strategic choice.