New Reserve Bank of India Governor Appointed
The outgoing Union Revenue Secretary, Sanjay Malhotra, has been appointed as the next Governor of the Reserve Bank of India (RBI), set to take office on Dec. 11 for a three-year term. To explain the importance and relevance of the country’s central bank, the following describes its role in our lives.
Raghuram Rajan Warns Against Excluding Food Prices from Inflation Calculations
Raghuram Rajan, a former Governor of the Reserve Bank of India (RBI), says in a media interview that he is opposed to the idea of excluding food prices from the calculation of headline inflation—essentially the overall change in prices. His concern stems from the importance of maintaining the trust and credibility of the central bank in the eyes of the public, as well as its effects on the economy and society.