'In the next 15-20 years, India will have at least 50 new (AI-driven) billion-dollar companies that are going to solve problems for the largest companies around the world.'
A Delhi court on Friday directed the Central Bureau of Investigation to consider the plea of underworld don Chhota Rajan's sisters, who sought its permission to meet their brother currently in the probe agency's custody, on the occasion of 'Bhai Dooj', saying they have not met him for the past 27 years and wanted to bless him.
The comments assume importance as the traditional position of the central bank has been not to set a forex reserves target.
The NPA of the public sector banks rose to 6.03% as of June 2015.
RBI Governor Raghuram Rajan on Friday defended his development index for measuring backwardness of states, saying the aim is to "encourage development" and "everything over and above that is a political spin."
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The Congress led UDF government in Kerala has asked Prime Minister Manmohan Singh to reject the Raghuram Rajan panel report evolving new formula for devolution of funds to states.
Rupee, he said, is not in shambles and "we should not be overtly pessimistic".
'From where prime ministers sit, it makes no difference at all who occupies the governor's post.' 'Literally anyone with a decent education or work experience can be appointed to the job, which is basically a managerial one with little room for manoeuvre,' says T C A Srinivasa-Raghavan.
The Maharashtra government's decision to hand over all the cases against underworld don Chhota Rajan to the Central Bureau of Investigation has not gone down well with the Mumbai Police with several senior officials criticising the move stating that it has raised doubts over their ability.
Only time will tell whether an individual like Rajan would be able to influence the manner in which the Fund looks at the rest of the world, especially developing countries.\n\n
If Mr Rajan's citizenship is considered relevant for heading an organisation that issues sovereign currency, should the provenance of a participant in a critical function of a sovereign democracy not count as well?
A day after the Reserve Bank of India's monetary policy review, the RBI Governor talked to journalists on related issues.
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.
A student of IIT-Benares Hindu University, Varanasi, was allegedly molested and stripped by three motorcycle-borne men, who also recorded a video of the act, near her hostel, the police said on Thursday.
Rajan also reiterated his view on the growth rate being inextricably linked with curbing inflation.
To provide exporters/importers greater flexibility in risk management, RBI enhanced the limit available to exporters to 50 per cent
Rajan, a professor at the University of Chicago, said if the money raised by the government was not spent, it could result in inflationary pressures, pushing up real interest rates. The problem could get aggravated if foreign capital flows rose, said Rajan, who was in Mumbai to deliver a lecture.
The reason, he said, was the external environment was weak.
