Reserve Bank Governor Raghuram Rajan on Monday warned against compromising India's interest for the sake of attracting foreign investment and said the priority should be framing transparent policies as well as resolving contractual tax disputes quickly.
After two surprising, successive rate cuts in January and February 2015, RBI governor Raghuram Rajan decided not to reduce them further in his first policy announcement in the new financial year. Is he playing spoilsport for consumers of homes and cars?
The 30-share Sensex ended up 12 points at 28,517 while the 50-share Nifty ended nearly unchanged at 8,660.
The broader markets were marginally higher with mid-caps and small-caps gaining 0.1-0.4 per cent on the BSE.
Service providers' confidence with regard to the 12-month outlook for business activity remained positive.
Referring to the proposed new monetary policy framework, it said in the weeks ahead, government and RBI will work towards it.
The RBI is exploring ways to allow banks more flexibility in loan restructuring.
The RBI, which has been keeping rates at an elevated level citing the high inflation, wants to bring it down to 6 per cent by January 2016.
The Reserve Bank of India (RBI) is likely to take a "more dovish" stance in its upcoming monetary policy review on December 2 and may go in for a cut repo rate in February, according to a British brokerage house report.
Rajan would slow down some of the expansion of money and it ought to have little effect on the real economy.
On price rise, HSBC said that the rate of cost inflation decelerated sharply while output prices were unchanged.
The Supreme Court decision to cancel the allocation of 214 coal blocks will have bearing on thermal power plants, in which the banks have put in more than Rs 1 lakh crore (Rs 1 trillion) as loans.
One of the major contributors for the decline in growth will be the monsoon deficiency, which also affects non- agricultural sectors through demand effects, RBI report said.
The global brokerage firm further said that BoP would be INR-supportive.
The G20 in 2013 had unanimously agreed to a 15 point action plan to check BEPS
Reserve Bank of India Governor Raghuram Rajan took charge of India's central bank when the rupee seemed to be in a tailspin while the country was facing runaway inflation.
The July-September quarter GDP numbers are due on November 30.
The Wholesale Price Index-based inflation was (-)4.54% in Sep.
RBI Governor has dismissed the notion that the rural employment guarantee programme is behind the massive spurt in wages in rural areas.
Terming the 23.9 per cent fall in economic growth in the June quarter alarming, former Reserve Bank Governor Raghuram Rajan has said bureaucracy should come out of complacency and take meaningful action. The current crisis requires a more thoughtful and active government, he said, adding, "Unfortunately, after an initial burst of activity, it seems to have retreated into a shell."
RBI has, since January, cut its policy rate four times.
RBI aiming to bring down headline number to 8% by end of this year and to 6% by the end of next year.
India's economy grew an historically modest 7 per cent last quarter but industrial output has generally been strong.
Asserting that retail inflation excluding food and fuel is still at an elevated level, the Reserve Bank of India on Tuesday said it would endeavour to curb price increases.
The decisive election victory for the Narendra Modi-led National Democratic Alliance has created a conducive environment for policy actions and should help in economic recovery, Reserve Bank of India Governor Raghuram Rajan said on Tuesday.
The WPI has been in the negative zone since November.
Rajan said the process of dialogue with the government did not reach a stage where he could have agreed to stay on
Rediff.com takes its readers through the various moods of Raghuram Rajan.
Panagariya also stressed that India must continue the liberalisation of its top tariff rates and the country should not revert back to import substitution.
The rupee has fallen more than 2 per cent against the dollar since the yuan devaluation
The interest money which is not claimed by people due to religious obligations is kept in suspended bank accounts.
Pulses cropping has jumped to 39.4 per cent above 2015 levels.
Urjit Patel said said the process of remonetisation was on and estimation of costs was a complex exercise.
Reserve Bank Governor Raghuram Rajan today criticised multilateral institutions like the IMF and the World Bank saying "they are not immune to cognitive capture".
The country has come a long way in the process of financial inclusion, Raghuram Rajan said, but "still has a way to go".
In its first bi-monthly policy, the RBI, in order to enhance hedging facilities for foreign investors in debt instruments, proposed to allow them to hedge the coupon receipts falling due during the next 12 months.
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The document said potential growth, which hovered at 8-8.5 per cent levels in the period from the second quarter of 2005-06 to the second quarter of 2008-09, has gone down to 6 per cent.
Panagariya, who heads the government's main economic advisory body NITI Aayog, is also India's Group of 20 summit negotiator
Duterte had consistently led the Time 100 Reader Poll, an online survey in which the publication had asked its readers to vote for who should be included in this year's Time 100 list of the world's most influential people.
Raghuram Rajan, whose current three-year tenure ends on September 4, has already said no to a second term.
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