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- 10 achievements Raghuram Rajan listed in his letter to RBI team
THE TIMES OF INDIA | Jun 18, 2016, 19:54:09 IST
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10 achievements Raghuram Rajan listed in his letter to RBI team
RBI Governor Raghuram Rajan announced to his team at the central bank that he would not serve a second term as their chief. He also listed the achievements that the RBI had notched over the past three years.
Here are 10 achievements Rajan listed in his letter :
Here are 10 achievements Rajan listed in his letter :
19:54 (IST) Jun 18
"When I took over, the Indian economy was labelled one of the 'Fragile Five', but today, we are the fastest growing large economy in the world, having long exited the ranks of the 'Fragile Five'."
19:54 (IST) Jun 18
"After discussions, I laid out an agenda for action and a new monetary framework."
19:53 (IST) Jun 18
"We focussed on bringing inflation down and raising Foreign Currency Non-Resident (B) deposits to bolster forex reserves."
19:53 (IST) Jun 18
"My plan took on the licensing of niche and general banks by committees of unimpeachable integrity."
19:53 (IST) Jun 18
"I undertook the creation of the Bharat Bill Payment system and the Trade Receivables Exchange."
19:53 (IST) Jun 18
"I also expanded payment modes to everyone by introducing payments through mobile phones. The Universal Payment Interface will soon revolutionize mobile to mobile payments in the country."
19:53 (IST) Jun 18
"I also developed a large loan database to improve mapping of distress in this area."
19:53 (IST) Jun 18
"Through such measures, today inflation has been halved and savers earn positive interest after a long time."
19:53 (IST) Jun 18
"Currency has stabilized, our forex reserves are at a record high and government has launched a 40-year bond for the first time."
19:53 (IST) Jun 18
"The new Bank Board Bureau has been instrumental in creating a structure for PSBs so that payments from failing projects can be recovered."
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