RBI governor Raghuram Rajan is concernedabout the rupee votality.
Finance Minister Arun Jaitley said RBI and the government are in continuous dialogue and that relationship will continue.
Rajan said RBI is in the process of creating a framework which will make the sustainable growth possible.
BSE Realty, Capital Goods and Consumer Durables indices were down by 3% each.
After his decision to return back to academia, there have been voices suggesting that his candid public speeches were one of the aspects which made the government uncomfortable about reappointing Rajan for another term
India's corporate sector sees big ticket deals in 2013.
There are however, enough dovish signals in the governor's statement to indicate a pro-growth policy going forward.
Fed move based on US economic recovery, which should boost India's exports, narrow CAD and help curb 'imported' inflation
Speaking at the Delhi Economic Conclave in New Delhi, Reserve Bank of India Governor Raghuram Rajan said the central bank will come out with a discussion paper next week with regard to distressed borrowers and rising non-performing assets.
Bharatiya Janata Party's prime ministerial candidate Narendra Modi is the most talked about person on Facebook in India beating likes of cricketing legend Sachin Tendulkar and Apple iconic device iPhone 5s, the US-based social networking site said on Monday.
Indian economic growth hit a low of five per cent in the financial year ended March 31,2013 and further slowed in the first quarter of FY14.
RBI itself is part of the multi-agency group announced by the Indian government to monitor such holdings and take appropriate action.
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The country has enough forex reserves to meet the demand.
Rupee has strengthened but is this sustainable.Or are we staring at a slip very soon.
Kumar said that while the rise in percentage of population of the deprived castes has led to increase in the quotas for SCs, STs and OBCs from 50 to 65 per cent, his government also planned to undertake a number of welfare measures for the benefit of "94 lakh families", which according to the survey lived in abject poverty.
Even as money floods into India, the Reserve Bank is bracing for the worst, building up currency reserves and drafting a game plan to protect the rupee against the sort of rout that alarmed policymakers and investors last year.
Recent data suggest that the economy isn't out of the woods, and the PM-designate must live up to high expectations.
Shares are likely to remain volatile in the week ahead as uncertainty heightens over Syria.
Shares are likely to remain volatile in the week ahead as uncertainty heightens over Syria.
The RBI on March 12 approached the Election Commission seeking its approval for granting bank lincences as the model code of conduct had come in place after the general elections announcement on March 5.
AIBEA said that on April 19 its officer bearers would meet in Punjab to decide the next course of action.
Rajan said expecting the government to provide all solutions wasn't right.
The Reserve Bank of India on Tuesday kept key rates unchanged.
The Indian Met Department has predicted a below normal monsoon.
The RBI Governor had earlier cautioned the banks on the risks involved in just hunting for numbers, asking them not to compromise on core objectives of the programme.
Raghuram Rajan, the PM's honorary economic advisor, said in 2006, 'It is important for India to exchange its paternalistic, directive government, which seeks to remedy every wrong through a subsidy, a quota, or a scheme, for one that creates an enabling environment for the people and unleashes their entrepreneurial zeal.' Two years later, his words seem prescient. But how much of what he says should be done will be done by the government in the limited tenure it has left.
The rupee had ended five paise lower at 61.92 on Tuesday.
RBI sees marginal improvement in economic growth to 5-6%.
The year 2015 is likely to see lower rates to support growth and the Reserve Bank is expected to cut key policy rates by 0.25 per cent in February's monetary policy review meet, says a Bank of America Merrill Lynch report.
Welcoming Raghuram Rajan panel report which has put Bihar among the least developed states, Chief Minister Nitish Kumar on Thursday described it as a 'victory' for the state but was non-committal on alliance with the Congress for the forthcoming Lok Sabha elections.
The Indian currency was tracking the non-deliverable forwards while lower stock futures also hurt sentiment.
The rupee was at 62.08/12 versus Thursday's close of 61.77/78.
In his first monetary policy review since taking office on September 4, RBI Governor Raghuram Rajan increased the repo rate by 25 basis points to 7.50 per cent.
Reserve Bank of India Governor Raghuram Rajan, who will present his maiden policy on September 20, held discussions on Tuesday with Prime Minister Manmohan Singh and Finance Minister P Chidambaram on the macro-economic situation.
Raghuram Rajan, a former chief economist at the International Monetary Fund, takes charge at the RBI as the country faces its worst economic crunch since a balance of payments crisis two decades ago.
The RBI wants CPI inflation to ease further to 6 per cent by January 2016.
The report further noted that inflation is expected to fall to 4.5 per cent by quarter ended March 2017.
RBI governor and new FM could hog all the limelight.
India-born Raghuram Rajan, Professor of Finance at the University of Chicago, has been awarded the newly instituted Fischer Black Prize by a premier academic organisation on financial economics.
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