Over the last two weeks, the RBI has lifted short-term rates to help support the currency
In the global markets, the US dollar traded lower in early trade after former US Treasury Secretary Larry Summers withdrew himself from the race to be the next Federal Reserve chairman.
RBI governor Raghuram Rajan says a cut in cash reserve ration will not at all impact lending rates.
A committee headed by Patel recommended retail inflation targeting and a monetary policy committee.
"Finance Ministry and RBI keep talking all the time," Rajan said.
The answer to the problems of high inflation and slowing growth, and low farm incomes, would lie in addressing the basic reforms that India is still to attempt -- like labour laws, says T N Ninan.
India is gearing up to introduce a six-member monetary policy committee that would vote on interest rates.
"The world is in general equilibrium. A small change in one parameter effects changes in all variables. So Krishna advised: Sukh Dukhe...," Subramanian Swamy tweeted.
Deepak Parekh, HDFC Bank Chairman, M S Verma, former SBI Chairman, Raghuram, Professor IIM, Ahmedabad, Rajiv Lal, IDFC MD and Vinayak Chatterjee, Feedback, Infrastructure Services Chairman are members of the committee.
The total distance covered by the train will be 534 kilometres.
The mood at the Indian Institute of Management, Ahmedabad (IIM-A) is festive, with one of its alumnii, Raghuram Rajan taking over as the next Reserve Bank of India (RBI) governor.
RBI's previous monetary policy was announced on September 29.
IMF chief said the G20 leaders need to respond to the calls for creating jobs.
Vijay Mallya owes several banks thousands of crores of rupees which he had taken as loans for his businesses including the now defunct Kingfisher Airlines.
'We first need to acknowledge the truth.' 'We are trying to diminish the problem and say, everything is okay and green shoots are emerging.' 'Imagine you are a doctor and not getting accurate medical reports, how do you diagnose and treat the illness?' 'We are not dealing with a terminal illness here, we are dealing with BP and cholesterol, which are imminently curable.'
There is nothing wrong with government and RBI having conflicting opinions.
Finance Minister Nirmala Sitharaman will present her second Budget a little more than a month from now. Like any other FM, Sitharaman will depend on her team of bureaucrats and advisors to frame and present the Budget.
RBI Governor Raghuram Rajan expressed anguish at the banks' reluctance to pass on benefits of the earlier rate cuts.
Dr Raghuram Rajan's departure holds lessons for all, be it sections of the media, politicians or the people themselves. We need to learn how to value and retain talent. At the same time the talented must realise that talent alone does not ensure the top job, says Sanjeev Nayyar.
Finance Minister Arun Jaitley said the Reserve Bank and the Finance Ministry have "very mature level of consultation" and it wasn't fair to comment on them.
Three members will be representatives from the government, and three from the RBI.
India's fiscal policy is not supportive of monetary measures that the country's central bank is employing to fight rampant inflation, the prime minister's honorary economic advisor and former International Monetary Fund chief economist Raghuram Rajan said, while singling out the proposed Food Security Bill as a particular cause for concern.
The RBI announced its monetary policy on Tuesday.
RBI governor does not want to move in haste for achieving financial inclusion.
'The critics are getting carried away.' 'The challenge for the RBI is not any erosion of autonomy caused by demonetisation.' 'It's the whole attempt to reduce the RBI's stature and role that has been under way,' says T T Ram Mohan.
According to the global financial services major, FIIs have recouped around 25 per cent of the outflows seen over the June-August period, when the country witnessed its sharpest bout of FII outflows since the global financial crisis.
RBI to ensure loans rate fall
'Slowing down of the economy was mainly due to the demonetisation shock...' 'If you cut off the oxygen supply to a patient in the ICU and the patient dies, the patient does not come alive again when you restore the oxygen supply.'
As inflation rate is near the upper limit of the comfort zone, experts rule out rate cuts anytime soon
'Without bold action to deal with our banking crisis, count on the economy's doldrums to continue for much longer than most of us anticipate,' says Rahul Jacob.
CPI inflation has declined by almost a percentage point from July, from close to eight per cent to just above seven per cent.
Sectoral performance was mixed with media and PSU banking stocks attracting buyer interest and healthcare, FMCG and metal stocks bearing the brunt of the bears
The banknotes would be bearing the signature of RBI governor Raghuram G Rajan and the year of printing '2013' printed on the reverse of the banknote, it said.
Hailing the announcement of Raghuram G Rajan as the new RBI Governor, India Inc on Tuesday said the appointment of the former IMF Chief Economist will help bring the economy back on growth path.
He was responding to a question on economic reforms in the country.
The Reserve Bank of India had taken steps to tighten liquidity in a bid to curb volatility in the forex market after the rupee fell to a record low of 61.21 to the dollar on July 8.
Raghuram Rajan, said, the scourge of loan losses "had a tendency to increase, get too big to ignore, too late to manage, and push the system into crisis".
Subramanian Swamy caused a flutter when he sought Arvind Subramanian's sacking for allegedly taking anti-India stance when he was an IMF economist in Washington.
In his first comments after resigning as RBI governor on December 10 last year amid sharp differences with the government, Patel said banks indulged in over-lending, while the government did not "fully play" its role, and also conceded that the regulator should have acted earlier.
Rediff.com spoke to Raghuram Rajan about his book, what enthuses him about the Indian economy, and what are the concerns he has with India's chaotic progress . . .
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