India's macroeconomic indicators are improving and inflation has been coming down consistent with the central bank's forecast, but Asia's third-largest economy needs investment growth to pick up, he added.
Terming Rajan as "India's prescient banker," Time said he is among a rare breed of "economic seers".
The meeting, which comes just days before the next bi-monthly monetary policy review on June 3, lasted for about 50 minutes.
The Governor, who completes one year in RBI on Wednesday, has stabilised the rupee and is getting a fix on inflation.
Minutes after the Union Cabinet approved raising the cap on subsidised liquefied petroleum gas (LPG) cylinders from nine to 12 per connection in a year, Reserve Bank of India (RBI) Governor Raghuram Rajan questioned the decision, suggesting it was "misdirected subsidy".
Rajan, who will be a key member of Finance Minister P Chidambaram's team, was also honorary economic adviser to Prime Minister Manmohan Singh.
India on Tuesday said it does not anticipate any problem in bringing back Chhota Rajan from Indonesia as he was arrested on a Red Corner Notice issued by Interpol.
RBI itself is part of the multi-agency group announced by the Indian government to monitor such holdings and take appropriate action.
A two-year extension at the helm of the RBI still looks a real possibility
Jaitley has made it a habit of giving soundbytes to the media like his predecessors on why RBI should cut interest rates
While the rest of India marches towards the promised destiny of 'progress', Bihar - the heart of India- is doomed to poverty and the injustices of a caste-based society.
Rajan strongly defends RBI's decision to hold the key rates in the absence of any new data points.
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%.
Rajan Bharti Mittal, vice-chairman and managing director of Bharti Enterprises took over as president of Federation of Indian Chambers of Commerce and Industry (FICCI) at the conclusion of its 82nd annual general meeting (AGM).
Rajan said the relationship between the RBI and the government has been strong.
Pujari is allegedly involved in eight serious cases in Mumbai, including firing, extortion and murder. A resident of Tagore Nagar in Vikhroli, he had fled from the country years ago. He had allegedly targeted builders and businessmen in eastern Mumbai, the crime branch official said.
RBI aiming to bring down headline number to 8% by end of this year and to 6% by the end of next year.
'Industrial countries are still struggling, with a few exceptions, to grow and the uncertainty about growth in the US as well the world is probably what impelled the Fed to stay on hold.'
Concerned over banks hiding their actual NPA numbers, RBI Governor Raghuram Rajan on Tuesday said the central bank is "increasingly turning towards taking action" on such divergences.
New Delhi was reluctant to spook investors by clipping the bank's wings
Tata Motors owned Jaguar Land Rover will start producing its Range Rover and Range Rover Sport in India, marking a first for the iconic models in their 54-year long history, to be rolled out from a country outside of the UK. Till now the two models were only produced in Jaguar Land Rover's Solihull plant in the UK and then exported to around 121 markets globally, including India.
A number of industrial countries are now resorting to populism and this has its own set of political implications.
Though the IMF wanted him to continue, his university said it won't extend Rajan's leave.
Rajan was speaking at a news conference.
Describing the BJP's election victory as an "astonishing triumph of Narendra Modi", noted economist Jagdish Bhagwati on Monday advised him to retain Raghuram Rajan as RBI Governor and to hold monthly press conferences to articulate the government's agenda.
'The Chinese devalued the yuan initially but then stopped'.
The forex kitty swelled for the fifth week in a row during the week ended December 6 to $295.71 billion, adding $4.41 billion. Between August 30 and December 6, the reserves have increased by close to $17 billion.
A few market and economic indicators have begun looking up, thanks to what many term the 'Rajan effect'.
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's exit will neither affect the RBI's de facto independence nor its working.
Market participants are impressed that Rajan has set the ball rolling on his first day at RBI with a series of announcements, raising expectations that more are in store.
Rajan's remarks come as the Modi-led government completes one year.
It took three years of collective fiscal profligacy and policy mismanagement to cause this crisis.
Top bankers on Wednesday exuded confidence that Raghuram Govind Rajan, who today took over as the 23rd Governor of the Reserve Bank, has the intellectual prowess to wade through the present difficulties facing the economy and wished him all success for the stint at Mint Road.
RBI Governor flayed easy monetary policy of central banks in advanced economies saying it is "more cause than medicine".
Sunrisers Hyderabad will look to unleash their brute batting power on struggling Royal Challengers Bengaluru when the two teams face off in their return-leg fixture of the IPL in Hyderabad on Thursday.
Investors will see that India story actually continues to be a good one, he said.
Industrial countries cannot at this point wash their hands off developing economises and say we will do what we need to, and you do the adjustment you need to, says RBI Governor.
'For every person there is a different way that you show respect for your country...my mother-in-law will say karmayogi is the way to go - do your work.'
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.
