The single most important issue in Public Sector Banks is corruption.
The government's step to curtail fiscal deficit is helping the central bank's monetary policy, Rajan said.
Of the eight RBI governors who have held office since the 1991 economic liberalisation, Bimal Jalan had the longest stint and S Venkitaramanan, the shortest. Current Governor Shaktikanta Das will overtake Bimal Jalan before completing his second term in December, points out Tamal Bandyopadhyay.
The World Bank has appointed Indermit Gill, an Indian national, chief economist and senior vice-president for development economics at the multilateral development bank. "Indermit Gill brings to this role a combination of leadership, invaluable expertise and practical experience working with country governments on macroeconomic imbalances, growth, poverty, institutions, conflict, and climate change," World Bank President David Malpass said in a statement. His appointment will be effective September 1, 2022.
Raghuram Rajan said a six-member monetary policy committee will decide on interest rates.
Says impact of crisis in China won't be as big here as in some other countries
Financial services firm AnandRathi analysed the key points of the policy soon after it was announced.
Rajan also said it's a problem of collective action and not a problem of industrial nations or emerging markets
The International Monetary Fund on Thursday asked India to "very carefully" look at the much-touted Special Economic Zones, saying the giveaways and tax sops to the zones could divert industrial activity from the rest of the country.
Reserve Bank of India (RBI) Governor Raghuram Rajan's decision to cut rates last week surprised even top officials.
Fiscal outlook to be little bit challenging next year: CEA
A two-year extension at the helm of the RBI still looks a real possibility
The fake handle was opened in June this year but was not used to tweet anything before August 20.
Many officials had been talking of taking the baton of global growth.
'The Chinese devalued the yuan initially but then stopped'.
Modi will also need to reconcile market demands with those from forces within his own administration
The key short-term lending rate (repo rate)has been hiked by 0.25 pc to 7.50 pc.
The principal challenge for Rajan's successor is to work with the Bank Board Bureau and the finance ministry to complete these processes of banking reform.
Analysts are expecting inflation to fall further in October and November on base effect. Inflation measured by consumer prices has been trending down for over four months, and came in at 6.7 per cent in September.
She would be the first Indian to be occupying the coveted post at IMF after former RBI governor Raghuram Rajan
The central bank kept cash reserve ratio unchanged at 4 per cent.
RBI had received 72 applications for small finance bank licences.
In the global markets, the US dollar traded lower in early trade after former US Treasury Secretary Larry Summers withdrew himself from the race to be the next Federal Reserve chairman.
Dr Raghuram Rajan's departure holds lessons for all, be it sections of the media, politicians or the people themselves. We need to learn how to value and retain talent. At the same time the talented must realise that talent alone does not ensure the top job, says Sanjeev Nayyar.
Rajan tells RBI colleagues he will be returning to academics
While stating that a strong government should be led by those who have expertise, motivation and integrity and can provide the needed public good, Rajan warned that "strong governments, may not, however, move in the right direction".
India is more insulated to Fed-related volatility than other emerging markets due to its better economic fundamentals
RBI had previously cut repo rate by 0.25% each in January and March.
The declining inflation and a negative industrial outlook have strengthened the case for RBI.
Rajan strongly defends RBI's decision to hold the key rates in the absence of any new data points.
Reserve Bank of India (RBI) governor Raghuram Rajan says global markets are at risk of a "crash" should investors start bailing out of risky assets created by the loose monetary policies of developed economies.
IMF Chief Economist Raghuram Rajan has said that while the Indian government has as strong reason to feel good about the economy, a lot still remains to be done.
'80% of the rural and urban population don't have enough purchasing power.'
The Reserve Bank of India kept interest rates on hold at 7.50 per cent.
The Governor had submitted his report to the Public Accounts Committee and put the blame on 'overall economic downturn'
Full capital convertibility means a foreign investor can repatriate his money into his own local currency at will.
Considering the economic downturn, the banking sector should help strengthen the cooperative sector to encourage small and medium industries and create jobs, Chavan said.
Today, with growth having slowed and macro-economic challenges in every direction, would the government have benefited from the advice of 'Harvard' economists? asks T N Ninan.
Former RBI governors Urjit Patel and Raghuram Rajan have also expressed worry about the Mudra scheme, particularly government's target-setting practice and the rising bad loans.
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