Overhauling India's bloated and often sluggish state banks is critical for the government
A gradual weakening of the rupee, however, may add to inflationary pressures.
Rbi cut rates for teh third time to ease economic situation.
RBI governor does not want to move in haste for achieving financial inclusion.
Rajan also said weak results from India's corporate suggested final demand is yet to pick up strongly.
RBI will cut rates in its next policy announcement on June 2.
Analysts expect the Reserve bank to cut rates in next monetary policy.
The new bond was changing hands at 7.72 per cent.
Traders believe the RBI will step in more strongly, if the rupee starts falling towards 65
'Both IIP and CPI inflation numbers are showing a huge disconnect from the leading indicators.'
The convertibility is RBI Governor's 'next big ambitious goal'.
Concern would kick in if imports stay at or over 100 tonnes a month.
Sahoo panel suggests India must ease global borrwoging norms for corporate houses.
The RBI targets inflation at 6 percent by January 2016 and 4 percent for 2017/18.
The revision was announced before Indian markets opened on Thursday.
Lenders fret over stubbornly weak credit growth and still high funding costs.
Offshore rupee debt was likely to attract good demand
India builds up record FX after Fed hints rate hike in future.
Reserve Bank of India (RBI) Governor Raghuram Rajan's decision to cut rates last week surprised even top officials.
The Budget loosened the reins on public spending to drive growth.
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