Describing the BJP's election victory as an "astonishing triumph of Narendra Modi", noted economist Jagdish Bhagwati on Monday advised him to retain Raghuram Rajan as RBI Governor and to hold monthly press conferences to articulate the government's agenda.
Rajan's exit will neither affect the RBI's de facto independence nor its working.
The forex kitty swelled for the fifth week in a row during the week ended December 6 to $295.71 billion, adding $4.41 billion. Between August 30 and December 6, the reserves have increased by close to $17 billion.
A few market and economic indicators have begun looking up, thanks to what many term the 'Rajan effect'.
The premiere of the Netflix movie saw a full house, as Bollywood's A-listers came down to launch the careers of Suhana Khan, Khushi Kapoor and Agastya Nanda.
The rupee has gained 1.89 percent against the dollar in the month to date and 2.93 percent in the past six months.
Though the IMF wanted him to continue, his university said it won't extend Rajan's leave.
Rajan's remarks come as the Modi-led government completes one year.
Market participants are impressed that Rajan has set the ball rolling on his first day at RBI with a series of announcements, raising expectations that more are in store.
It took three years of collective fiscal profligacy and policy mismanagement to cause this crisis.
Top bankers on Wednesday exuded confidence that Raghuram Govind Rajan, who today took over as the 23rd Governor of the Reserve Bank, has the intellectual prowess to wade through the present difficulties facing the economy and wished him all success for the stint at Mint Road.
Investors will see that India story actually continues to be a good one, he said.
RBI Governor flayed easy monetary policy of central banks in advanced economies saying it is "more cause than medicine".
'For every person there is a different way that you show respect for your country...my mother-in-law will say karmayogi is the way to go - do your work.'
'RBI and the economy will gain tremendously from Urjit Patel's experience in both private and public sectors'
The new pay scale will come into effect from January 1.
Uber had run into trouble with the RBI over the two-payment process
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.
Declining value of the rupee, widening Current Account Deficit (CAD) and the impact of likely tapering of US bond purchases are some of the key issues which will keep Raghuram Rajan busy.
The Reserve Bank on Tuesday nudged banks to cut lending rates.
Former England and Tottenham Hotspur defender Ledley King on Tuesday said though Indian football has progressed extensively in the last few years, the country needed to spread the sport more effectively at the grassroots.
With the 'busy credit season' which witnesses a spurt in loan demand going up, it would be good to lower the rates ahead of it
Rajan further said the current account deficit would be better in June than in May.
Rajan also said the RBI had reduced the current account deficit "substantially".
There is little scope for significant monetary easing even in the next fiscal year.
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.
RBI has kept interest rate unchanged at 8 per cent since January
Helicopters are anticipated to be more in demand compared to fixed-wing aircraft as choppers will help in providing accessibility to rural and remote areas in a shorter time.
Calls for a rethink on why some sectors should get more easy credit than others
Underworld don Chhota Rajan's aide Rohit Thangappan, who was behind bars for the murder of senior scribe Jyotirmoy Dey, was on Wednesday arrested in connection with a firing case involving a hotelier, two days after a local court sought his production, the police said.
Will seek to bring inflation to the mid-point: Rajan
His team has projected a higher growth of 6.1-6.7 per cent in the next fiscal.
By March 28, the reserves rose by a whopping $5.038 billion to $303.673 billion, the second highest in the fiscal.
he feels they are prone to misuse by borrowers, including farmers, and suggested a rate ceiling for loans by micro finance lenders.
The Central Bureau of Investigation has taken over the probe into the murder of Hanif Kadawala, an accused in the 1993 Mumbai blasts case who gave an AK-56 rifle to actor Sanjay Dutt, and registered a case against gangster Chhota Rajan and his accomplices in this regard.
'If equities perform well in a year, withdraw money from equities. If the equity market is down, shift withdrawal to the debt portion.'
The policy will be presented in the backdrop of rising inflation.
He called on developed countries to play their part in restoring international monetary cooperation.
The government's step to curtail fiscal deficit is helping the central bank's monetary policy, Rajan said.
Special Judge A L Pansare allowed CBI's plea seeking nod to question the 54-year-old crime boss for 10 days starting January 27 before adjourning the case till February 5.
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