Rupee, he said, is not in shambles and "we should not be overtly pessimistic".
Only time will tell whether an individual like Rajan would be able to influence the manner in which the Fund looks at the rest of the world, especially developing countries.\n\n
The NPA of the public sector banks rose to 6.03% as of June 2015.
A Delhi court on Friday directed the Central Bureau of Investigation to consider the plea of underworld don Chhota Rajan's sisters, who sought its permission to meet their brother currently in the probe agency's custody, on the occasion of 'Bhai Dooj', saying they have not met him for the past 27 years and wanted to bless him.
'From where prime ministers sit, it makes no difference at all who occupies the governor's post.' 'Literally anyone with a decent education or work experience can be appointed to the job, which is basically a managerial one with little room for manoeuvre,' says T C A Srinivasa-Raghavan.
The Maharashtra government's decision to hand over all the cases against underworld don Chhota Rajan to the Central Bureau of Investigation has not gone down well with the Mumbai Police with several senior officials criticising the move stating that it has raised doubts over their ability.
If Mr Rajan's citizenship is considered relevant for heading an organisation that issues sovereign currency, should the provenance of a participant in a critical function of a sovereign democracy not count as well?
An inconsistent Royal Challengers Bengaluru would be eager to hit the turnaround button when they host Lucknow Super Giants, who will keep an eye on regular skipper KL Rahul's fitness, in the IPL in Bengaluru on Tuesday
A day after the Reserve Bank of India's monetary policy review, the RBI Governor talked to journalists on related issues.
A RBI constituted panel on financial inclusion headed by Nachiket Mor had recommended the setting up of the payments banks in order to deepen access to finance.
'The prime minister's comment on 'revdi culture' was welcome. But I am disappointed he did not follow up on that.' 'All political parties, including the BJP, have been guilty of this.' 'Now, Modi's guarantees, the Congress's 'nyay' path and both ruling and Opposition parties are vying with each other for freebies in my home state Andhra Pradesh.'
Rajan also reiterated his view on the growth rate being inextricably linked with curbing inflation.
To provide exporters/importers greater flexibility in risk management, RBI enhanced the limit available to exporters to 50 per cent
Rajan, a professor at the University of Chicago, said if the money raised by the government was not spent, it could result in inflationary pressures, pushing up real interest rates. The problem could get aggravated if foreign capital flows rose, said Rajan, who was in Mumbai to deliver a lecture.
RBI's exercise will take into account standards of governance, the viability of the payment bank (PB) business model, and changes, if any, if needed.
The reason, he said, was the external environment was weak.
The Mumbai police on Monday claimed to have cracked the murder case of Mid Day crime reporter Joyobroto Dey, and arrested seven Chota Rajan gangsters who reportedly orchestrated the crime. But the police is still curiously silent over the motive, reports Toral Varia.
The Maharashtra government for the first time has revealed the 'real motive' behind ace crime reporter Jyotirmoy Dey being killed by gangsters on the orders of underworld don Chhota Rajan.
Nina Pillai, in her petition, had alleged that the mandatory medical examination of her husband was not conducted at Tihar for even two days after his arrest.
Payments banks are niche banks which will be allowed to function with several restrictions.
