Kaushik Basu, whose stint at the World Bank ends on July 31, was being looked at as a serious contender, the sources said
Modi will also need to reconcile market demands with those from forces within his own administration
Here is some background on the candidates seen as potential successors to Rajan at the RBI
Rajan was expected to join the search committee to appoint three external members of a new six-member RBI Monetary Policy Committee
While he has plenty of critics at home, Rajan is a favourite among foreign investors and has been credited for bringing inflation under control.
Even before Prime Minister Narendra Modi swept to power in 2014, Subramanian Swamy was agitating for Rajan's removal.
Raghuram Rajan joked he wasn't expecting to win any votes or Facebook 'likes' in the position.
The six AP-1000 reactors would be built in Andhra Pradesh.
Mergers to create at most six state banks
Apple is also expected to announce plans for a startup accelerator in India to work more closely with the Indian developer community that works on the company's iOS and OS X software platforms
Cook's visit, following a trip to China, comes at a crucial time as Apple looks for new growth markets after posting its first ever decline in iPhone sales
While many promises remain unrealised, power reforms and the creation of tens of millions of new bank accounts have helped Modi maintain his popularity
Monsanto has taken the government to court over the royalty.
Prime Minister Narendra Modi's landslide election in 2014 raised hopes he would draw a line under India's socialist past, cut welfare and reduce the government's role in business.
From parity in 1980, China's economy has outgrown India's fivefold to $10 trillion
The RBI cut the rate several times last year to reduce it by 125 basis points to the current 6.75 percent.
India should not loosen its fiscal deficit targets in the forthcoming budget, Prime Minister Narendra Modi's top economic adviser Arvind Panagariya said.
The contract would give a big boost to India's $150 billion nuclear power programme, and a broader push to curb greenhouse gas emissions.
Critics say the programme, launched 10 months ago in India in collaboration with operator Reliance Communications, violates principles of net neutrality
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