Reserve Bank of India governor to resign

Author: Eamonn Sheridan | Category: Central Banks

The Indian finance minister P.  Chidambaram has said that the governor of the RBI, Dr. D. Subbarao, ‘wants to move on’ and that the hunt for a successor is underway

  • India left interest rates unchanged yesterday (left its policy repo rate at 7.25%) despite a weak rupee
  • said it will roll back recent liquidity tightening measures when stability returns to the rupee market
  • Statement had a dovish tone, and cut growth forecast to 5.5% from 5.7 %previously
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