It was a 'Black Monday' again in markets today and history shows that seven out of the ten biggest carnages on Dalal Street has taken place on a Monday!
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KC Chakrabarty who was appointed as RBI deputy governor in 2009, is considered frank with his views.
She said 30 basis points (0.30 per cent) rate cut has already happened.
Inflation has remained a major concern.
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.
Rajan said that despite easy liquidity, banks have passed rate cuts into lending rates modestly.
India is better prepared to deal with any further US Fed tapering, but the country needs to remain vigilant to face eventualities, Reserve Bank Governor Raghuram Rajan said.
Industrial countries cannot at this point wash their hands off developing economises and say we will do what we need to, and you do the adjustment you need to, says RBI Governor.
Supported by greater demand from both domestic and external markets, total new business rose at the fastest pace since March
Suggesting steps to boost the Indian economy, the IMF chief further said the government should focus on fiscal consolidation.
Subdued exports remain an area of concern.
Rajan was speaking in Hyderabad at an interactive session at National Institute of Rural Development and Panchayati Raj.
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The rupee resumed slightly lower at 62.05 per dollar as against the last weekend's level of 62.04 at the Interbank Foreign Exchange market. It recovered to 61.88 per dollar before quoting 61.93 at 1045 hours.
Traditionally, Prime Minister picks the RBI Governor after consultation with the finance minister.
RBI Governor Raghuram Rajan asked banks to follow suit and pass on the rate cuts.
A reading above 50 denotes expansion while one below means contraction.
RBI Governor Raghuram Rajan on Tuesday kept the repo rate unchanged 6.50 per cent.
'Too many things happen in India... that is the root of the problem, not Raghuram Rajan'
RBI is expected to discuss about the impact of GST in its monetary policy.
Highly-placed sources in the government say that none of the senior ministers had any inkling of Patel's resignation
The partially convertible rupee closed at 61.2350/2450 per dollar compared with 61.31/32 on Tuesday.
Anandabazar Patrika reported that Rajan would prefer to go back to the United States after his three-year term expires in early September
The Reserve Bank of India unexpectedly raised its policy interest rate on Tuesday by 25 basis points (bps) but said that if consumer price inflation eases as projected, it does not foresee further near-term tightening.
Twenty-six entities, including the Tatas, Aditya Birla Group, Anil Ambani-led Reliance Capital and Religare, apart from India Post, applied. Videocon Group, later on withdrew its application.
The government has changed the criteria for infusion of capital.
Following up on his barb last week that Rajan should be sent back to Chicago, BJP MP Subramanian Swamy has written a letter to the Prime Minister saying how a person appointed by the UPA government should be continued in the post.
The report said the import cover has gone down to seven months, last seen in 1998 and hence, RBI will focus on recouping the reserves.
Calling RBI Governor Raghuram Rajan's exit a 'bad omen' for the Indian economy, eminent economists and former policymakers on Sunday said it will be seen by the world as India's non-approval to a policy against inflation and bad loans.
Property buyers fund the project cost and the entire debt and entire equity servicing, and yet, have no locus standi in the IBC process, points out Debashis Basu.
Will seek to bring inflation to the mid-point: Rajan
Rupee rebounds from one-week low, up 9 paise against dollar.
The rupee had ended five paise lower at 61.92 on Tuesday.
The Consumer Price Index-based inflation rose to 5.11% in January
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Currently, the cash reserve ratio is pegged at a low of 4 per cent, while statutory liquidity ratio that includes securities such as government bonds, stands at 23 per cent, down from 25 per cent in 2010.
The convertibility is RBI Governor's 'next big ambitious goal'.
India needed more specialists within government
The surge is a stark turnaround from 2013 when the country's current account gap hit a record high due to outflows on expectations the US Fed would rein in its stimulus programme
He added that the risks can increase if the Chinese slowdown gathers more speed.
In a recent article, Rajan has ridiculed critics of the exchange rate policy.
Raghuram Rajan on Tuesday said the central bank cannot ask them to lower the rates.
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