Excerpts from former economic adviser to Indian ministry of - TopicsExpress

Excerpts from former economic adviser to Indian ministry of Finance and a former chief economist at IMF(2003-07), Mr Raghuram Rajan speech in USA on 20 Oct 2013 --------------------------------------------------- The Reserve Bank of India (RBI) will soon come out with major reforms in the banking sector that will allow foreign banks to enter India in a big way and even take over domestic lenders, governor Raghuram Rajan has said. भारतीय रिजर्व बैंक (आरबीआई) जल्द ही बैंकिंग क्षेत्र में प्रमुख सुधार लाएगी जिससे विदेशी बैंक बड़े पैमाने पर भारत में घुसने और यहां तक कि घरेलू बैंकों को अधिग्रहण की अनुमति देगा - रघुराम राजन “That is going to be a big, big opening because one could even contemplate taking over Indian banks, small Indian banks and so on” यह एक बहुत बड़ा उद्घाटन होने जा रहा है, क्योंकि इसमें भारतीय बैंकों, छोटे भारतीय बैंकों एक एक कर सभी अधिग्रहण करने के बारे में विचार कर सकते है For foreign banks, if you adopt a wholly owned subsidiaries structure, and we are coming up with details on that in the next couple of weeks, we will allow you near-national treatment विदेशी बैंकों के लिए, अगर आप एक पूर्ण स्वामित्व वाली सहायक संरचना को गोद लेते है, और हम अगले कुछ सप्ताहों में उस पर विवरण के साथ आ रहे हैं, हम आपको राष्ट्रीय इकाई जैसा व्यवहार देंगे once you have a fully owned subsidiary, we would allow you a lot of freedom एकबार आप पूर्ण स्वामित्व वाली सहायक संरचना को गोद लेले, हम आपको बहुत सारी सुविधा देंगे “We bought over $60 billion of gold last year. $60 billion accounts for three-fourth of our current account deficit. If push comes to shove, we can pay the world in gold.” Rajan added. हम पिछले साल $60 billion का सोना ख़रीदा, हमारे चालू खाते के घाटे के तीन चौथाई के लिए, यदि कुछ गिरवी रखने का धक्का आता है तो हम सोने से इसका भुगतान कर सकते हैं. - राजन ने जोड़ा --- Read the complete article in English here : livemint/Politics/lBYKQdNqocYsGCioqV6LZL/Countries-avoid-IMF-unless-they-are-desperate-Raghuram-Raja.html --------------------------------- Swaminathan Gurumurthy

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