Head of state-run Indian Bank T M Bhasin had called for a CRR cut.
"I'm taking a minute to respond... I do respect Raghuram Rajan as a great scholar who chose to be in the central bank in India at a time when the Indian economy was all buoyant," Sitharaman said during the lecture organised by the Deepak and Neera Raj Centre on Indian Economic Policies of the Columbia University.
Rajan is an acknowledged academic, author and intellectual. He spoke on issues which are in the public domain, said Chidambaram
Experts applaud RBI governor RAghuram Rajan for his good work.
Over the last two weeks, the RBI has lifted short-term rates to help support the currency
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%.
According to the global financial services major, FIIs have recouped around 25 per cent of the outflows seen over the June-August period, when the country witnessed its sharpest bout of FII outflows since the global financial crisis.
He doesn't expect banks to raise interest rates, as they'd not reduced these after the policy rate cuts in May and March.
The mismatch between industrialists' demand and account holders is because of inflation, Rajan said.
Two members recommended bringing down the rate by 50 bps in the April policy.
Amid concerns over minorities being targeted in India, former Reserve Bank governor Raghuram Rajan on Thursday cautioned that an 'anti-minority' image for the country can lead to loss of market for Indian products and may also result in foreign governments perceiving the nation as an unreliable partner. India enters the perception battle from a position of strength, the professor at Chicago's Booth School of Business said, alluding to credentials like democracy and secularism, but warned that this battle is "ours to lose". The comments came a day after bulldozers tore down several concrete and temporary structures close to a mosque in Jahangirpuri as part of an anti-encroachment drive, days after the northwest Delhi neighbourhood was rocked by communal violence.
Sources said Rajan will make the customary call on the Finance Minister on Monday, a day before he presents the policy.
RBI to ensure loans rate fall
'That way you're not hostage just to US sort of exports to India.'
He was responding to a question on economic reforms in the country.
RBI governor advises students to not take advantage of economic freedom
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.
P Chidambaram on Saturday wondered whether the Modi government "deserves" Raghuram Rajan
Rajan said in order to export, one needs to be able to import things that go into those exports as cheaply as it can.
Rajan also said weak results from India's corporate suggested final demand is yet to pick up strongly.
While Raghuram Rajan's departure under these circumstances is a pity, it would be wrong to conclude that the RBI or the economy cannot do without him.
The solution to this problem lies only in making the system more efficient, he said.
The government's critics say that the Prime Minister failed to rein in vicious and unprecedented personal attacks on the central bank chief by the likes of Rajya Sabha MP Subramanian Swamy.
Rupee, he said, is not in shambles and "we should not be overtly pessimistic".
"Finance Ministry and RBI keep talking all the time," Rajan said.
The Tamil Nadu government will constitute an 'economic advisory council' to the chief minister comprising Nobel laureates, former Reserve Bank of India governor and other economic experts from around the globe to advise the state on how to reverse the economic slowdown.
Reserve Bank Governor Shaktikanta Das on Tuesday said the fiscal-monetary coordination was at its best during the last six years even as he thanked Prime Minister Narendra Modi for giving the opportunity to head the monetary authority of the country. Das, in a series of posts on X, on his last day of his six-year term as RBI Governor, also thanked the Finance Minister, various stakeholders and his colleagues at the central bank.
"I don't think this administrative subject should be an issue of interest to the media," Modi said.
RBI governor Raghuram Rajan is clear about cleaning up the mess in the banking system.
Last August, RBI gave in-principle approval to 11 applicants.
To provide exporters/importers greater flexibility in risk management, RBI enhanced the limit available to exporters to 50 per cent
Hailing the announcement of Raghuram G Rajan as the new RBI Governor, India Inc on Tuesday said the appointment of the former IMF Chief Economist will help bring the economy back on growth path.
RBI Governor Raghuram Rajan, who today surprised markets with a rate hike, defended the move saying a rate cut would not have impacted either banks or borrowers and that bringing down retail prices is the key to sustainable growth.
Raghuram Rajan, said, the scourge of loan losses "had a tendency to increase, get too big to ignore, too late to manage, and push the system into crisis".
Former Prime Minister Manmohan Singh's 1991 budget unshackled India's economy, significantly enhancing the economic prospects for hundreds of millions of Indians, first deputy managing director of the International Monetary Fund (IMF) Gita Gopinath said on Friday.
Reserve Bank Governor Raghuram Rajan today criticised multilateral institutions like the IMF and the World Bank saying "they are not immune to cognitive capture".
According to him, since India has a low fiscal deficit, a low current account deficit and lower inflation, there is no need for being too dependent on foreign money for growth.
Investors will see that India story actually continues to be a good one, he said.
RBI Governor Raghuram Rajan on Friday defended his development index for measuring backwardness of states, saying the aim is to "encourage development" and "everything over and above that is a political spin."
India is gearing up to introduce a six-member monetary policy committee that would vote on interest rates.
