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."
Governor Rajan stressed on the benefits over a medium-term.
Meanwhile, Wholesale Prices Inflation (WPI) numbers which were announced on Thursday, accelerated to an eight-month high of 7.0% in October.
RBI Governor Raghuram Rajan wanted to improve training for staff, through initiatives such as sending them to other central banks for short stints.
Raghuram Rajan rejected the argument that inflation has come down largely because of "good luck" stemming from low oil prices.
The policy will be presented in the backdrop of rising inflation.
RBI governor also spoke on the ill effects of cutting interest rates too much
Hinting that the Centre might provide special status to Bihar, Finance Minister P Chidambaram on Saturday declared to set up a committee to determine the new criteria for backwardness.
Rajan said there will be some volatility, but once the initial bout or wave abates, people will look for good fundamentals
Reserve Bank Governor Raghuram Rajan on Friday said the recent rally in the rupee is comforting but said the currency has not yet achieved stability which will only be reached when he stops keeping a "minute-by-minute" track of the unit.
India needs foreign exchange buffer reserves to insulate itself from exchange rate volatility as we have "no friends" for swap lines and Japan was the only country that helped during the taper tantrum in 2013, former RBI Governor Raghuram Rajan said on Tuesday. Participating in a virtual event organised by economic think tank NCAER, Rajan said during the taper tantrum in 2013, India asked for swap lines, and only country who helped was Japan. "We need this (foreign exchange) reserve buffer to insulate ourselves because we have no friends.
His tweets led to his followers proclaiming that he was backing Patel's appointment
Rajan warned against waiting to act until inflation expectations become entrenched, but also said the Reserve Bank of India would overlook temporary spikes in inflation.
RBI governor Raghuram Rajan says, laws must be tightened for freeloaders.
Asserting that retail inflation excluding food and fuel is still at an elevated level, the Reserve Bank of India on Tuesday said it would endeavour to curb price increases.
Rajan said the process of dialogue with the government did not reach a stage where he could have agreed to stay on
If we persist in talk and little action, I think we will slip. I fear the consequences of sustained slow growth. We need strong, sustained, clever action today, Rajan said.
'Access to finance is one of the most crucial needs in the economy.'
He will presumably choose to remain true to the framework he has put in place.
Former RBI governor Raghuram Rajan, who faced a stinging attack from Finance Minister Nirmala Sitharaman for presiding over the "worst phase" of the Indian banking sector, on Thursday reminded her that two-third of his tenure as the head of the central bank was under the Bharatiya Janata Party government.
Finance Minister Arun Jaitley said the Reserve Bank and the Finance Ministry have "very mature level of consultation" and it wasn't fair to comment on them.
"The issue in Iraq is still an area of uncertainty.
"I think, this is something that all Indians should be concerned about because strength of our institutions is really important for our growth, sustainable growth and equity in the economy," said Rajan.
India needed more specialists within government
To a question related to RBI's policy rate, Rajan said no amount of interest rate cut is going to help if credit growth is weak.
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The Reserve Bank released a report on 'Banking Structure in India -- The Way Forward' in August 2013, which covered issues such as consolidation of large-sized banks with a view to have a few global-sized banks and the desirability and practicality of having small, localised banks as preferred vehicles for financial inclusion.
Observing that it is not yet clear to him what the government means by 'Atmanirbhar Bharat', Rajan said if it is about creating an environment for production, then it is a re-branding of the Make in India initiative.
Most economists feel the RBI has room for a 25-basis point cut, having met inflation targets comfortably
There is also a lobby within the bureaucracy that wants to see Rajan's influence curtailed
After the e-mail was received, the RBI officials alerted the police.
We require a very pivotal kind of leadership now from the central bank in order to work with the government
Rajan sees banks passing on the benefit of lower rates regime to customers.
Calls for a rethink on why some sectors should get more easy credit than others
Subdued exports remain an area of concern.
Rajan said the RBI is working on upgrading the capabilities of its inspectors to undertake bank system audits as well as to detect vulnerabilities in them
RBI data show one-fifth of all the infrastructure loans are stressed and the share of such loans in overall stressed assets is nearly a third.
The RBI Governor brought down retail inflation to 3.8% in July.
Reserve Bank Governor Raghuram Rajan on Monday warned against compromising India's interest for the sake of attracting foreign investment and said the priority should be framing transparent policies as well as resolving contractual tax disputes quickly.
The rupee has fallen more than 2 per cent against the dollar since the yuan devaluation
The country has a long way to go before it claims to have arrived, he said.
