The Reserve Bank of India Governor Raghuram Rajan said bringing down inflation would help stabilise the rupee.
The Governor had submitted his report to the Public Accounts Committee and put the blame on 'overall economic downturn'
The Congress on Friday claimed that that "vitriolic tirade" against RBI Governor Raghuram Rajan by Subramanian Swamy has the "full backing" of NDA government and Bharatiya Janata Party.
Chhota Rajan, one of India's most wanted gangster, has been arrested in the tourist town of Bali, Indonesia on a Red Corner Notice issued by Interpol after eluding law enforcement agencies for over two decades.
Rajan said that despite easy liquidity, banks have passed rate cuts into lending rates modestly.
Reserve Bank of India (RBI) Governor Raghuram Rajan has set himself a target of lowering consumer inflation and is even ready to raise rates to achieve it, risking friction with the new government, if he is seen as overstepping.
He also affirmed that over time, as the government finances improve, the SLR will be brought down further.
Rajan will be closely working with the RBI governor and the four deputy governors to gain familiarity with the central bank's stance on various issues.
With the setting of MPC, the interest rate setting powers would move from RBI Governor to the panel.
Royal Challengers Bengaluru's fairytale resurgent run will be up against the might of five-time champions Chennai Super Kings and the weather gods when the two sides clash in an epic do-or-die match to decide the fourth and final team for the IPL play-offs, in Bengaluru on Saturday.
India is gearing up to introduce a six-member monetary policy committee that would vote on interest rates.
To help cut down on current account deficit.
India has been assigned the lowest investment grade rating with a high risk profile by various global agencies.
'Democracy is India's greatest strength.'
Reserve Bank Governor Raghuram Rajan on Thursday said the central bank will continue its focus on taming inflation, speeding up resolution of distressed projects and ensuring enough capital for banks through balance sheet clean-up.
Applauding Facebook co-founder Mark Zuckerberg for the reported pledge to give majority of his wealth to philanthropy, well known Hindu statesman Rajan Zed has called upon India's billionaires/millionaires to make similar pledges.
'We will supply dollars in case of extreme volatility.'
Jaitley said manufacturing sector will continue to face challenges unless it transitions itself while keeping the quality and price in mind.
He also made it clear that the pre-2005 notes will continue to be legal tender.
Governor also says two-stage verification for card transactions might go; RBI in process of setting up IT arm
Some accounts can be revived by rescheduling loans, which the RBI envisages to do once the norms get finalised after the public discussion.
Rajan said banks have typically become used to reasonably slow moving base rate which gives them time to adjust the deposit cost before they adjust lending.
The Tamil Nadu assembly on Friday once again passed a unanimous resolution urging the Centre to exempt the state from National Eligibility-cum-Entrance Test and allow it to admit students to medical courses based on Plus Two exam marks.
The Governor of the Reserve Bank of India may need all the suave charm of the fictional British spy to sell that same hard-nosed agenda to a powerful new prime minister.
In cutting interest rates and giving a boost to the government's efforts to revive growth, RBI governor Raghuram Rajan displayed the pragmatism and flexibility familiar to those who work with him.
Raghuram Rajan, Governor of the Reserve Bank of India, has scoffed at the contention that BJP's Prime Ministerial nominee, Gujarat Chief Minister Narendra Modi will be the knight in shining armour who will root out corruption in India.
He has had a productive first year at the RBI -- one which saw, also, India's economic imbalances improve and the unexpectedly strong general election outcome.
Indian capital markets joined the global sell-off sparked by China growth concerns
RBI is expected to discuss about the impact of GST in its monetary policy.
'India's biggest loss is that we will not have anyone as principled and as courageous as Rajan.'
Governor Raghuram Rajan has asked his colleagues to ensure that the central bank is not seen as mere "paper tiger" and even rich and powerful wrong-doers are not spared.
RBI wants the lending rates to be determined by the market.
Central bank Governor Raghuram Rajan drew kudos from Moody's Analytics for his monetary stance.
Rajasthan Royals will face a stern test of character as they look to arrest a shocking slide in a do-or-die IPL Eliminator against an in-form RCB.
The RPI-A is an ally of the Bharatiya Janata Party.
The central bank and Indian government has reached a "broad consensus" on the composition of a rate-setting panel.
RBI Governor Raghuram Rajan on Friday said repo rate has been hiked as inflation pressures remain high.
After two rate hikes in less than six weeks aimed at curbing inflation, RBI Governor Raghuam Rajan on Wednesday said the central bank may be done with interest rate increases as their impact on the economy is assessed.
The special Maharashtra Control of Organised Crime Act court on Thursday rejected the bail application of Paulson Joseph, an alleged Chota Rajan aide, arrested in connection with the murder of senior journalist Jyotirmoy Dey.
RBI governor Raghuram Rajan says a cut in cash reserve ration will not at all impact lending rates.
