Days ahead of the Budget, Reserve Bank Governor Raghuram Rajan on Wednesday pitched for increasing the tax exemption limit on financial investments by individuals from Rs 1.5 lakh a year.
It's time the regulator did some introspection.
As heavy rains continued to batter Kerala, landslides and flooding were reported from many parts of the state, especially its southernmost district of Thiruvananthapuram, which was severely affected by waterlogging in several areas on Sunday.
Rollback of July tightening measures indicates comfort on currency but a repo rate hike is around the corner.
India imposes restrictions on how much money its citizens and companies can invest abroad
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Rajan, the academic-turned-central banker who is credited with predicting the global financial crisis, said that voicing of views will have positive effects.
Rajan posed the question while speaking at the annual leadership conference in Mumbai National Association of Software and Services Companies.
RBI governor Raghuram Rajan is clear about cleaning up the mess in the banking system.
Raghuram Rajan said on Friday it is not clear India needs a so-called "bad bank.
The appointment of Rajan, a former chief economist of the International Monetary Fund and now a professor of finance at University of Chicago, comes at a time when India, like most of the world economies, is grappling with the impact of the global credit crisis.
The aim of his visit was to explore how financial institutions can be co-opted in reviving the local economy.
The Reserve Bank of India Governor Raghuram Rajan said bringing down inflation would help stabilise the rupee.
Rajan said that demand needs to be reduced without having severe effects on investment and supply.
The Governor had submitted his report to the Public Accounts Committee and put the blame on 'overall economic downturn'
New RBI Governor Raghuram Rajan on Wednesday came out with a slew of measures, including more trade settlement in rupees to rescue the battered financial markets and hinted at a shift in focus from inflation control, doggedly pursued by his predecessor, to boosting growth.
Rajan said that despite easy liquidity, banks have passed rate cuts into lending rates modestly.
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.
An inconsistent Royal Challengers Bengaluru would be eager to hit the turnaround button when they host Lucknow Super Giants, who will keep an eye on regular skipper KL Rahul's fitness, in the IPL in Bengaluru on Tuesday
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.
With the setting of MPC, the interest rate setting powers would move from RBI Governor to the panel.
Fugitive gangster and drug smuggler Santosh Shetty has been arrested in Bangkok by the Thailand police. Mumbai crime branch officials took him into custody on Thursday.
He also affirmed that over time, as the government finances improve, the SLR will be brought down further.
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.
India is gearing up to introduce a six-member monetary policy committee that would vote on interest rates.
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.
The RPI-A is an ally of the Bharatiya Janata Party.
India has been assigned the lowest investment grade rating with a high risk profile by various global agencies.
'Democracy is India's greatest strength.'
'We will supply dollars in case of extreme volatility.'
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.
To help cut down on current account deficit.
Governor also says two-stage verification for card transactions might go; RBI in process of setting up IT arm
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.
RBI's exercise will take into account standards of governance, the viability of the payment bank (PB) business model, and changes, if any, if needed.
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.
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.
'India's biggest loss is that we will not have anyone as principled and as courageous as Rajan.'
RBI is expected to discuss about the impact of GST in its monetary policy.
Some accounts can be revived by rescheduling loans, which the RBI envisages to do once the norms get finalised after the public discussion.
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