Business houses expect rate cut in next RBI policy.
The Tamil Nadu government will constitute an 'economic advisory council' to the chief minister comprising Nobel laureates, former Reserve Bank of India governor and other economic experts from around the globe to advise the state on how to reverse the economic slowdown.
Rajan also reiterated his view on the growth rate being inextricably linked with curbing inflation.
Bank of India has become the first state-run lender to allow withdrawal of funds to individuals from its ATMs without an account in the bank.
A day after the Reserve Bank of India's monetary policy review, the RBI Governor talked to journalists on related issues.
Providing access to unbanked areas in the country has been high on the agenda of RBI, as almost 40 per cent of the population doesn't have a bank account.
Upside risks to inflation persist from higher growth and expansive govt spending.
In the past, there have been instances of people getting fake e-mails in the name of RBI.
Rajan has set March 2017 as the deadline for banks to clean up their balance sheets.
Haasan, addressing office bearers in Chennai, said he has been invited by Rahul Gandhi to participate in the Yatra.
By March 28, the reserves rose by a whopping $5.038 billion to $303.673 billion, the second highest in the fiscal.
The Centre's fiscal consolidation resolve led to the cut in banks' mandatory SLR for the second time in a row, RBI Governor Raghuram Rajan said on Tuesday, hinting at more such liquidity enhancing steps in tandem with the government's action on fiscal deficit.
The rank of COO is the latest in a series of decisions that met with internal resistance at Mint Road and now North Block.
What's encouraging is that the process of unwinding some of the extraordinary steps taken in last July-August is continuing, so moreliberalisation is back on their agenda.
Analysts say the RBI could resume tightening monetary policy by early next year should inflation remain high, even as the economy is growing below the decade low of 5 percent posted in the fiscal year ending in March.
Indian bond yields fell on Friday after Rajan's remarks, showing the level of concern about high inflation and investors' anticipation that the RBI will continue efforts to stabilise the economy.
The RBI Governor also reiterated his reservation against repeated loan waivers by various state governments, saying the move distorts credit pricing, thereby also disrupting the credit market.
Rajan spoke at the Delhi Economic Conclave 2013 on 'The Agenda for the Next Five Years' in New Delhi.
Captains of the industry, including Adi Godrej and Anil Ambani, were among the early birds from India Inc to cast their votes in the financial capital.
Rajan's comment comes against the backdrop of certain BJP leaders questioning his policies to deal with the current economic woes.
The EC is yet to decide on RBI's request to grant new licences during the election season.
The report further noted that inflation is expected to fall to 4.5 per cent by quarter ended March 2017.
There are however, enough dovish signals in the governor's statement to indicate a pro-growth policy going forward.
Foreign brokerage HSBC said emergence of pleasing data and the likelihood of RBI holding its key rate on April 1, should not lead to believing that the rate tightening cycle is over.
The immediate challenge to faster growth is to restore stability to the currency markets.
The Indian economy recovered from the Covid-induced downturn during 2022 and is poised for further improvement in the coming quarters though downside risks emanating from geopolitical tensions, strengthening dollar and elevated inflation will continue. The positive trajectory in the growth trend and improved fundamentals will help the nation in neutralising the impact of global headwinds which are expected to have a bearing on the country's exports in the months to come. The challenges before the government and the Reserve Bank in the new year would be to arrest inflation, check declining value of rupee against US dollar and promote private investment and growth, with a view to ensure that the country remains one the fastest growing major economies of the world.
Minutes after the Union Cabinet approved raising the cap on subsidised liquefied petroleum gas (LPG) cylinders from nine to 12 per connection in a year, Reserve Bank of India (RBI) Governor Raghuram Rajan questioned the decision, suggesting it was "misdirected subsidy".
BSE Realty, Capital Goods and Consumer Durables indices were down by 3% each.
The government-appointed Financial Sector Legislative Reforms Commission (FSLRC) has recommended a slew of reforms to overhaul the sector.
Rajan added "many" market participants were convinced that India could hit the RBI's target of bringing down consumer inflation to 6 percent by January 2016.
People who advocate a rate hike because inflation is very high, even without the food component, have in mind some developed-economy structure, Raghuram Rajan tells Business Standard in an exclusive interview.
Even as money floods into India, the Reserve Bank is bracing for the worst, building up currency reserves and drafting a game plan to protect the rupee against the sort of rout that alarmed policymakers and investors last year.
Recent data suggest that the economy isn't out of the woods, and the PM-designate must live up to high expectations.
Fed move based on US economic recovery, which should boost India's exports, narrow CAD and help curb 'imported' inflation
Three months on the job seem to have converted Reserve Bank of India Governor Raghuram Rajan from an inflation hawk to at least a pragmatist.
Bharatiya Janata Party's prime ministerial candidate Narendra Modi is the most talked about person on Facebook in India beating likes of cricketing legend Sachin Tendulkar and Apple iconic device iPhone 5s, the US-based social networking site said on Monday.
Indian economic growth hit a low of five per cent in the financial year ended March 31,2013 and further slowed in the first quarter of FY14.
Rajan was speaking at a news conference.
Meanwhile, Wholesale Prices Inflation (WPI) numbers which were announced on Thursday, accelerated to an eight-month high of 7.0% in October.
Subramanian Swamy now wants Arvind Subramanian sacked.
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