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India's central bank chief brushes off talk of top IMF role: paper MUMBAI: The head of India's central bank, Raghuram Rajan, has brushed off talk that he could be a candidate for the top job at the International Monetary Fund when Christine Lagarde's term ends next year, according to a newspaper interview.Speculation on Rajan's ambitions, gaining strength as the end of his term approaches in 2016, increased after an analyst's report last week pointed to the government's push for greater representation in the top ranks of the IMF, and to Rajan as a candidate to be the first chief from a developing country.Rajan, who has run the Reserve Bank of India since 2013, was chief economist at the IMF between 2003 and 2006. "Lagarde is doing a fine job (in) Washington and that job is not open. She might go for a second term," Rajan told the Business Standard newspaper."Earlier, some people wanted me to pack off to the BRICS Bank. They ...

China says Iran joins AIIB as founder member BEIJING: Iran has been accepted as a founding member of the China-led Asian Infrastructure Investment Bank (AIIB), Chinese state news agency Xinhua reported late on Tuesday.The decision was made by existing members, including China, Britain, France, India and Italy, it added.The United Arab Emirates has also been accepted, Xinhua said.The AIIB is seen as a potential rival to established lenders the World Bank and Asian Investment Bank, which are dominated by the United States and ...
Peru seen leaving interest rate the same due to price pressure LIMA: Peru's central bank will hold its benchmark interest rate at 3.25 percent on Thursday to avoid stoking seasonal inflation risks at a time of anaemic economic growth, said a majority of analysts polled by Reuters. Fourteen out of the 16 foreign and local economists surveyed said the central bank would leave the key rate unchanged for the third month in a row. The remaining two forecast a 0.25 percent rate cut to boost growth. ...
BoJ to maintain stimulus but with waning conviction of success TOKYO: Bank of Japan policymakers will likely vote on Wednesday to continue their asset-buying spree launched two years ago, but with waning conviction of success as inflation slows further from their ambitious 2 percent target and the economy struggles. When it launched its massive stimulus programme in April 2013, the BoJ pledged to achieve 2 percent inflation in roughly two years in a country mired in 15 years of deflation. With the deadline having passed, ...
India's RBI keeps rates on hold MUMBAI: India's central bank kept interest rates unchanged Tuesday, saying most commercial banks have yet to pass on two previous cuts to customers in Asia's third largest economy.After meeting in the financial capital Mumbai, the Reserve Bank of India (RBI) said the benchmark repo rate -- the level at which it lends to commercial banks -- would remain unchanged at 7.50 percent.The RBI's decision to hold rates had been widely anticipated by economists who said ...
India central bank official calls for caution on foreign investor debt limits MUMBAI: India needs to proceed cautiously in fully opening up its debt markets to foreign investors, given the need to first tackle issues such as the large government borrowing and capital controls, executive director G. Padmanabhan said in a speech last week.Padmanabhan also raised concerns over the unhedged foreign currency exposure by Indian borrowers in offshore debt, saying it raised "systemic concerns."The executive director, whose last day at the RBI is at the end of ...
Turkish central bank says opens 7bn lira repo auction ISTANBUL: Turkey's central bank opened a one-week, fixed-rate repo auction on Monday with a volume of 7 billion lira ($2.73 billion), bank data showed.Copyright Reuters, 2015 ...


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Banking Review 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.586 bln
Exports $1.932 bln
Imports $3.518 bln
WeeklyApril 16, 2015
Reserves $16.818 bln