Flagging the issue of lack of enough economists in the country, Reserve Bank India (RBI) Governor Raghuram Rajan has said the inability to get quality talent may be hurting policy making.
Rajan announced a status-quo on interest rates.
The central bank gave 11 entities licences to start payments banks.
Rajan was speaking in Hyderabad at an interactive session at National Institute of Rural Development and Panchayati Raj.
Many exit polls have kept the incumbent Bharatiya Janata party ahead of the Congress in what was a straight contest between two main parties. Assembly polls were held in the state in a single phase on November 17.
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The taxpayers and honest borrowers suffer when a big entity defaults.
The Governor said RBI does not limit itself too much when there is uncertainty.
Rahul Gandhi hailed the RBI Governor for steering the Indian economy in "difficult times"
In a relief to former Mumbai police officer Pradeep Sharma, the Supreme Court on Monday said he need not surrender till further orders to undergo the life term awarded to him in a 2006 fake encounter case.
An Indian police team on Monday for the first time questioned underworld don Chhota Rajan and officials believe that he could be deported to India in the next two-three days.
Stocks and rupee on Monday took an early morning plunge but soon recouped their losses.
On Aug 11, the Chinese central bank surprised markets by devaluing the yuan by nearly 2 per cent.
For India, Fitch Ratings has 'BBB-' rating.
The mismatch between industrialists' demand and account holders is because of inflation, Rajan said.
Rajan's first few measures include swap window facility for banks to lure in NRI funds.
Illicit liquor, narcotic drugs, cash, precious metals, gold, silver, jewellery and other materials worth about Rs 339.95 crore have been seized by the joint team of Flying Surveillance Team (FST), Static Surveillance Team (SST) and police, he said.
Palanivel Thiaga Rajan was on Thursday relieved of the finance portfolio by Tamil Nadu Chief Minister M K Stalin.
'Cricket is like a circle, the smaller you keep it, the better it will be. You expand this circle more and you will find gaps.'
The industrial output for the third month in a row remained in the negative territory, contracting 1.5% in January
'We have 100,000 students going abroad every year.' 'So, we have room for at least 100 universities of very high quality to service those 100,000 students.'
Head of state-run Indian Bank T M Bhasin had called for a CRR cut.
Rajan has a great track record abroad.
The single most important issue in Public Sector Banks is corruption.
Special CBI Judge Vinod Kumar passed the order after Rajan, produced before the court via video conferencing, pleaded not guilty and claimed trial.
RBI has, since January, cut its policy rate four times.
Rajan said RBI should pay as much dividend as possible to the government, which over the past two years has run into billions of dollars
Of the eight RBI governors who have held office since the 1991 economic liberalisation, Bimal Jalan had the longest stint and S Venkitaramanan, the shortest. Current Governor Shaktikanta Das will overtake Bimal Jalan before completing his second term in December, points out Tamal Bandyopadhyay.
India needed more specialists within government
Head of central banks from various countries get into a 'Basel huddle' every second month at Basel at the headquarters of the Bank for International Settlement.
He was responding to a question on economic reforms in the country.
Raghuram Rajan, who has been pilloried by his critics for keeping interest rates high and has also been accused of stifling growth.
Kerala Chief Minister Pinarayi Vijayan on Thursday said the rescue mission in the landslide-hit Mundakkai region of Wayanad could take a few more days, and appointed a cabinet sub-committee of four ministers to coordinate the rescue efforts.
Rajan, who has also served as chief economist at the International Monetary Fund (IMF), said he had no idea what statistics are pointing at currently and "a revamp" was needed "to really figure out what India's true growth rate is".
The CBI sources said the agency has charged them with criminal conspiracy, cheating, forgery and under Provisions of Prevention of Corruption Act in the chargesheet.
Rajan has already warned he does not have a 'magic wand' to deal with India's economic crisis.
India's chief economic adviser, Raghuram Rajan has been appointed as the governor of the Reserve Bank of India.
Raghuram Rajan optimistic about passage of GST
Rajan says that China should not be solely blamed for global imbalances. Rajan is hopeful but not confident of reviving Doha trade talks.
