Given the pressure from India Inc and the banking fraternity, it is surmised that the portfolio rejig will take place before April.
RBI in wait and watch mode as several risks to inflation continue to exist including a sudden reversal of food prices and oil price volatility.
A glance back at some important events that occurred in 2018.
The Indian economy was on an impressive growth path through the first decade of this century till it was brought to an abrupt halt by the policy inertia during UPA2 and the Modi government's inability to restore economic and financial momentum. Fascinating glimpses of what went wrong from Puja Mehra's must-read book The Lost Decade: How India's Growth Story Devolved Into Growth Without A Story.
'Poor home work, and a subsequent loss of nerve.' 'This sums up the Modi government's current travails, the stall in key sectors, fading momentum, irritability,' points out Shekhar Gupta.
That's all it takes to protect an institution -- just one person with no past and no greed for the future, says Shekhar Gupta.
'Modi remains the most popular politician in India; the BJP's organisational and fundraising prowess is considerable; and the Opposition, while newly collaborative, has no leader or clear economic messaging as of yet.'
'We feel there is definitely something murky in the system.' 'Will anyone believe that Nirav Modi will go to a branch and bribe a low-level officer?' 'Just look at the people with whom he had moved around.'
We need a change in mindset, says the RBI Governor.
This is the first time in the RBI's history that a governor is leaving without willing to renew his contract
Angry Congress members staged a walkout during Modi's address.
'When I met the prime minister on November 15 there was no RBI report with the prime minister as to why this was done.' 'When I asked the PMO officer about this, he said the RBI did not bring this to the PM and did it independently.' 'When I asked how could the RBI ban DCCBs from accepting deposits from farmers in old notes when the government gazette released on November 9 allowed them to do so, this officer told me that not even senior PMO officials had any idea about this RBI ban.'
'The Reserve Bank's independence has remained a work in progress, an enduring challenge that the nation has been grappling with on an ongoing basis,' says RBI Deputy Governor Dr Viral Acharya.
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