Of the seven members, four are proposed to be government nominees and the rest from RBI.
'Rajan's exit will have a great impact on the economy.'
Rajan said that despite easy liquidity, banks have passed rate cuts into lending rates modestly.
It's time the regulator did some introspection.
RBI governor Raghuram Rajan and the government are working towards financial inclusion.
The convertibility is RBI Governor's 'next big ambitious goal'.
A RBI constituted panel on financial inclusion headed by Nachiket Mor had recommended the setting up of the payments banks in order to deepen access to finance.
The Supreme Court decision to cancel the allocation of 214 coal blocks will have bearing on thermal power plants, in which the banks have put in more than Rs 1 lakh crore (Rs 1 trillion) as loans.
After the screening, the shortlisted candidates will be vetted by an external committee, to be headed by former RBI governor, Bimal Jalan.
Graphic representation of lending rate cut by RBI.
Rajan announced a status-quo on interest rates.
Reserve Bank Governor Raghuram Rajan on Monday slammed International Monetary Fund for staying on the sidelines and applauding accommodative policies of developed nations.
RBI is expected to discuss about the impact of GST in its monetary policy.
In cutting interest rates and giving a boost to the government's efforts to revive growth, RBI governor Raghuram Rajan displayed the pragmatism and flexibility familiar to those who work with him.
Raghuram Rajan on Tuesday said the central bank cannot ask them to lower the rates.
Due to lower output from mines, utilities and factories, the July factory output data came down to 0.5 per cent year-on-year, the government data showed on Friday, down from June's revised 3.9 per cent rise.
The new government will face four big challenges -- subdued growth, the fiscal and current account deficits and sticky inflation, RBI Governor Raghuram Rajan said.
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RBI is scheduled to unveil its credit policy on June 3.
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.
The progress we made in recent past should not detract us from making further structural reforms: Rajan
Rajan's remarks come as the Modi-led government completes one year.
The central bank dashed hopes of any steep interest rate reduction.
A day after Bihar Chief Minister Nitish Kumar slammed the United Progressive Alliance government for shelving the special status demand at the behest of its 'natural' ally, the Congress hit back charging him with misleading the people on the issue and instigating them against it.
RBI Governor has dismissed the notion that the rural employment guarantee programme is behind the massive spurt in wages in rural areas.
Finance Minister Arun Jaitley said in a Twitter post that the government appreciated all of Rajan's good work and respected his decision
RBI says, it cut rates as growth was not happening at ground level.
The RBI chief was speaking to researchers at an analyst call.
A 13-member group, headed by RBI Executive Director R Gandhi, has made various recommendations on G-Sec market, retail participation and interest rate derivatives market.
RBI could opt for a 'deep cut' after winning inflation war, say experts.
The Congress party has tweeted a 1.44-minute clip from the conversation which will be aired in full at 9 am Tuesday.
Indian capital markets joined the global sell-off sparked by China growth concerns
'The critical event signalling a new era for India was Dr Singh's 1991 Budget in which he quoted Victor Hugo to say that no power on earth could stop an idea whose time has come,' recalls T N Ninan.
RBI Governor has been under pressure from Finance Ministry.
The government has changed the criteria for infusion of capital.
"I think the Governor has been doing a great job for the country and we would certainly see it as a very positive move if he were reappointed," Naushad Forbes, president, CII.
"I would hope that the government would very respectfully request him to continue for one term or my preference would be two terms," Narayana Murthy said.
The government is likely to name a successor to Rajan sometime this month
The RBI governor also said he is not 'overly' worried about any interest rate hike by the Federal Reserve, saying the country had enough foreign exchange reserves.
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.
The three-year tenure of Raghuram Rajan saw the RBI adding a net of $92 billion to the kitty.
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