"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 has a great track record abroad.
Head of state-run Indian Bank T M Bhasin had called for a CRR cut.
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.
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.
He doesn't expect banks to raise interest rates, as they'd not reduced these after the policy rate cuts in May and March.
Two members recommended bringing down the rate by 50 bps in the April policy.
The mismatch between industrialists' demand and account holders is because of inflation, Rajan said.
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
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.
Rajan said in order to export, one needs to be able to import things that go into those exports as cheaply as it can.
P Chidambaram on Saturday wondered whether the Modi government "deserves" Raghuram Rajan
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.
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".
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.
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.
"Finance Ministry and RBI keep talking all the time," Rajan said.
"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".
'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?'
Reserve Bank Governor Raghuram Rajan today criticised multilateral institutions like the IMF and the World Bank saying "they are not immune to cognitive capture".
Investors will see that India story actually continues to be a good one, he said.
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.
India is gearing up to introduce a six-member monetary policy committee that would vote on interest rates.
