Overhauling India's bloated and often sluggish state banks is critical for the government
He assured fears of food shortages were far-fetched.
A gradual weakening of the rupee, however, may add to inflationary pressures.
Rbi cut rates for teh third time to ease economic situation.
RBI will cut rates in its next policy announcement on June 2.
To cover most of the gap, the road ministry plans to raise $7 billion.
India likely to overtake China on strong GDP growth.
Traders believe the RBI will step in more strongly, if the rupee starts falling towards 65
Modi has taken a slew of measures to attract investment, but he has yet to initiate steps that could help repair corporate balance sheets.
The convertibility is RBI Governor's 'next big ambitious goal'.
New Delhi was reluctant to spook investors by clipping the bank's wings
Concern would kick in if imports stay at or over 100 tonnes a month.
India will be able to manage potential inflationary pressures if forecasts of sub-par monsoon
Consumer food price inflation eased to 6.14%.
It was 2.6% in January.
The revision was announced before Indian markets opened on Thursday.
Lenders fret over stubbornly weak credit growth and still high funding costs.
The exemption from MAT does not apply retroactively.
The output had expanded 1.8 per cent year-on-year in January.
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