The RBI is expected to issue only a few bank licences after completing due diligence.
Rajan also said the RBI had reduced the current account deficit "substantially".
Former RBI governor Raghuram Rajan has asked why SEBI has not yet got to the bottom of ownership of the four Mauritius-based funds who are said to have parked 90 per cent of their $6.9 billion in Adani group stocks, saying does the market regulator need help of investigating agencies for this? The funds -- Elara India Opportunities Fund, Cresta Fund, Albula Investment Fund and APMS Investment Fund -- have been under cloud for last couple of years after allegations that they may be shell companies. They came into focus once again in January when a US short seller alleged that Adani Group used offshore shell companies to inflate stock price.
Raghuram Rajan said the passage of the GST Bill augurs well for the growing political consensus for economic reforms.
Jaitley slams Rajan for MSME banking crisis statement, says postmortem is easier than action
People who advocate a rate hike because inflation is very high, even without the food component, have in mind some developed-economy structure, Raghuram Rajan tells Business Standard in an exclusive interview.
Media has gone beyond its traditional boundaries.
Subramanian Swamy has been critical of Rajan for not lowering interest rates earlier to boost growth.
Rajan was expected to join the search committee to appoint three external members of a new six-member RBI Monetary Policy Committee
Benchmark indices end at a three week high but Nifty remains shy of 5,600 level.
Finance Minister P Chidambaram held informal consultations on Wednesday on possible candidates for the Reserve Bank deputy governor's post.
NITI Aayog's Rajiv Kumar accused former prime minister Manmohan Singh and senior Congress leader P Chidambaram of creating a 'false narrative'
"I think bankers have expressed some concern that they should not be held liable for actions that are taken in the full spirit of what is needed," Raghuram Rajan said.
'Democracy is India's greatest strength.'
RBI Governor Rajan on Wednesday said significant progress made in curbing current account deficit.
RBI Governor Raghuram Rajan on Tuesday said the government will decide on extension of his tenure.
Mr Swamy has written letters to the Prime Minister's Office asking for Mr Rajan's services to be terminated.
The International Monetary Fund chief economist-designate Raghuram Rajan feels big deficits -- whether India's fiscal deficit or the United States' current account deficit -- are not sustainable in the long term.
Rajan expressed concerns on pressures on the services front.
The Reserve Bank of India had taken steps to tighten liquidity in a bid to curb volatility in the forex market after the rupee fell to a record low of 61.21 to the dollar on July 8.
RBI Governor Raghuram Rajan plans to write on 'academic issues' after leaving the Reserve Bank.
Rajan said the central bank has used up all its "space available" to cut interest rates
Rajan said that demand needs to be reduced without having severe effects on investment and supply.
India Inc on Wednesday said it looked forward to the new RBI Governor Raghuram Rajan initiating cut in interest rates and improving credit flow to crucial sectors like infrastructure to put economy back on high-growth path.
The RBI kept its key policy repo rate unchanged at 8.0 percent in its recent monetary policy.
In 2013, India suffered its worst currency crisis in more than two decades but has regained the confidence of foreign investors in part after its current account deficit has narrowed sharply and its foreign exchange reserves hit a record high
'It's important for India to think about areas where it wants the US to move.' 'We can be far more innovative in what we ask the US.' 'Given that there's a package deal, why not do it?'
Former Finance Minister P Chidambaram had said he was "disappointed and profoundly saddened" by Rajan's decision.
'I think the markets will move up given that there will be more money.'
The future action on rate change will depend on data said the RBI Chief.
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.
RBI Governor Raghuram Rajan on Tuesday kept the repo rate unchanged 6.50 per cent.
Officials, however, said one person's thinking might not change the views of the institution.
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.
Rajan's colleague in the ministry, Economic Affairs Secretary Arvind Mayaram, also expressed hope on Thursday that the central bank would vote for growth.
Bharatiya Janata Party leader Subramanian Swamy on Sunday once again attacked Raghuram Rajan on the monetary policy, over a month after Prime Minister Narendra Modi had disapproved of his criticism of the Reserve Bank of India chief.
He called on developed countries to play their part in restoring international monetary cooperation.
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.
IMF chief said the G20 leaders need to respond to the calls for creating jobs.
"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.
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