Benchmark indices end at a three week high but Nifty remains shy of 5,600 level.
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.
Rajan further said the current account deficit would be better in June than in May.
Officials, however, said one person's thinking might not change the views of the institution.
RBI governor Raghuram Rajan is concernedabout the rupee votality.
Raghuram Rajan said the passage of the GST Bill augurs well for the growing political consensus for economic reforms.
NPA issues in the banking sector, standoffs in Parliament denting the reform momentum and limited space on the fiscal side are among the major concerns for investors.
The IIM Bill, passed by Rajya Sabha, gives B-schools autonomy and power to award full-fledged degrees.
Labour reforms have been pending in India for long.
He also said that he stands by Modi as he admires his spine but took a dig at journalists planting "deliberately false stories" to provoke him.
Sources said Rajan will make the customary call on the Finance Minister on Monday, a day before he presents the policy.
RBI Governor Raghuram Rajan plans to write on 'academic issues' after leaving the Reserve Bank.
'A concerted attempt is afoot to try and create a new image of an intelligent man who knows what he is talking about and is far from the person that his critics in the media and Opposition have often portrayed him to be,' says Virendra Kapoor.
Modi will also need to reconcile market demands with those from forces within his own administration
The rupee has gained 1.89 percent against the dollar in the month to date and 2.93 percent in the past six months.
Rajan said the central bank has used up all its "space available" to cut interest rates
RBI Governor Raghuram Rajan will also participate in the meet.
Rajan had overturned the majority opinion of the members and chose to hold the rates at the last monetary policy review in October.
Rajan also said the RBI had reduced the current account deficit "substantially".
Rajan expressed concerns on pressures on the services front.
Raghuram Rajan's three-year term is the shortest of any G20 country and the recent governors have been given second terms as much as seven months in advance.
Rajan's departure from the RBI is an end to 'outside interference' in policy making, government insiders feel.
We require a very pivotal kind of leadership now from the central bank in order to work with the government
The principal challenge for Rajan's successor is to work with the Bank Board Bureau and the finance ministry to complete these processes of banking reform.
Rate cuts are a natural consequence that the RBI has no hesitancy in delivering.
Reserve Bank Governor Raghuram Rajan on Friday said banking sector will see major changes in the coming years.
To help cut down on current account deficit.
Last August, RBI gave in-principle approval to 11 applicants.
The book was thinner by 60 pages compared to last year.
A high import of the metal is putting pressure on current account deficit.
FM's top adviser Raghuram Rajan had earlier said that the target was tough to meet.
The government needs to now put in efforts to strengthen the recovery process, he feels.
Reserve Bank Governor Raghuram Rajan expressed confidence in India's growth and said the country is on target to meet Jan inflation target of below 6%.
Subramanian Swamy has been critical of Rajan for not lowering interest rates earlier to boost growth.
Listening -- really listening -- to advisers in the government and outside would help. India has plenty of wise economists who have worked within the bureaucracy during previous crises, points out Rahul Jacob.
RBI Governor Raghuram Rajan on Tuesday kept the repo rate unchanged 6.50 per cent.
Rajan addressed a group of investors in Boston on Thursday.
In his address at a conference of state secretaries, Rajan stressed the need to strengthen state-level coordination committees by ensuring participation, conducting meetings more frequently and sharing quality information among all stakeholders, including state government agencies.
"I think, this is something that all Indians should be concerned about because strength of our institutions is really important for our growth, sustainable growth and equity in the economy," said Rajan.
Rajan's colleague in the ministry, Economic Affairs Secretary Arvind Mayaram, also expressed hope on Thursday that the central bank would vote for growth.
