'This lack of focus is tantamount to kicking the can down the road and jettisoning financial stability for short-term gains,' says the former RBI deputy governorRestoring banks' capital is critical for aiding a meaningful recovery, but there has been little focus on the matter, says Acharya
1 min read19 Oct 2020Key suggestions include privatization of state-owned lenders and the creation of a bad bank
2 min read22 Sep 2020The former RBI deputy governor said the dip in financial savings is one of the reasons that can explain the disagreements between Mint Road and North Block
2 min read2 Aug 2020Viral Acharya was referring to experience of the past when the RBI’s monetization of govt debt led to a spike in consumer prices and a balance of payments crisis
1 min read26 Jul 2020The search panel also includes RBI Governor, Financial Services Secretary and some independent membersThe post had fallen vacant after Viral Acharya resigned in July
1 min read31 Oct 2019Through Europe’s example, Acharya explained how ultra-loose monetary policy at some point begins to depress inflationAcharya hasn’t mentioned India in his speech but there are some lessons for the country
2 min read25 Oct 2019The government is expected to borrow over ₹7 tn from the markets to finance fiscal deficit of 3.3% of GDP in FY20An increase in government borrowing could lead to flooding the debt market, making it expensive for companies to borrow, said Acharya
2 min read23 Jul 2019In his last published speech, the outgoing deputy governor of RBI highlighted yet again the problem of crowding out by govt’s rising market borrowingImplications of crowding out are more serious now because household savings, main source of funding for both public and private sectors, are shrinking
2 min read23 Jul 2019The RBI shifted to a flexible inflation targeting with a headline target of 4% (+/- 2%) when the MPC was instituted in 2016Two preconditions for macro-economic stability — stable growth and low inflation — are now in place in the country: RBI deputy governor Viral Acharya
3 min read29 Jun 2019Deputy governor Acharya was one of the dissenters in Feb and Apr monetary policy meetingsThe exit before Acharya’s term ends has rekindled concerns over RBI’s independence
2 min read24 Jun 2019The Union Budget contains details about the estimated receipts and the expenditure of the government for a particular fiscal year. The Budget is allotted for the upcoming fiscal year, which runs from 1st April to 31st March of the next year. Here is a quick guide on how the Union Budget is prepared