Urjit Patel: An RBI governor who doesn’t talk but acts

Raghuram Rajan had taken over as governor of the central bank in the world’s fastest-growing major economy in the thick of the taper tantrum in September 2013 when the local currency was depreciating every day against the dollar and inflation was in double digits. His predecessor D Subbarao had witnessed the collapse of iconic US investment bank Lehman Brothers a few days after he had taken over, leading to the transatlantic financial crisis. In contrast, Urjit Patel, the Reserve Bank of India’s (RBI’s) 24th governor who completes first year in…

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South Korea Clears Oracle of Anti-Competitive Acts After Software Probe

South Korea’s Fair Trade Commission (FTC) said on Wednesday Oracle Corp did not engage in anti-competitive behaviour following a probe over its practice of packaging new software upgrades into database management service contracts. South Korea’s antitrust regulator last year opened an investigation into the practice to determine whether it was using its dominant market position to shut out rivals. The US company controlled 58.5 percent of the domestic database management system market as of 2014, according to the FTC, marginally lower than 59.6 percent in 2011. The regulator said on…

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