Former US Federal Reserve chairman Ben Bernanke and RBI governor Raghuram Rajan will face each other once again after the showdown at Brookings Institution in Washington on April 10.
Bernanke is scheduled to meet top industrialists and deliver a speech on April 15 at an event hosted by the Kotak Mahindra Bank.
This would be his second visit to India. Bernanke is likely to speak on the aspects of global financial and macroeconomic developments at the event.
The event?s invitees include Tata Group head Cyrus Mistry, Anil and Mukesh Ambani and the RBI governor. Bernanke?s maiden visit to India was in 2012 when he met finance minister P Chidambaram and the then RBI governor D Subbarao.
Eight months after that visit, Bernanke indicated tapering of quantitative easing that caused widespread sell-offs in emerging markets, including India. The Indian financial markets were hit as foreign investors started pulling out. It was this impact that the RBI governor was perhaps referring to in his speech at Brookings Institution, where Bernanke was also present.
Rajan said that the Fed should consider the impact of its policies on emerging markets before embarking on them. He also said that policies that are more harmful to emerging markets than beneficial to the US may not be worth pursuing. Bernanke tore into Rajan?s speech, saying the Fed meets emerging market central bankers eight to ten times a year and a lot of consultation takes place.
?(Your) speech just reflects the fact that you are very skeptical of unconventional monetary policies,? Bernanke had said.