Dr Rajan has clearly sought to establish his credentials as an inflation fighter and the action should be seen as an indication of how monetary policy will operate during his term.
At present, bank depositors get an insurance cover of Rs 1 lakh on their amount by the Deposit Insurance and credit Guarantee Corporation.
A few market and economic indicators have begun looking up, thanks to what many term the 'Rajan effect'.
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.
RBI Governor Rajan on Wednesday said significant progress made in curbing current account deficit.
RBI governor and new FM could hog all the limelight.
The central bank kept cash reserve ratio unchanged at 4 per cent.
RBI governor is seen succeeding International Monetary Fund (IMF) chief executive officer, Christine Lagarde, next year.
Consumer price inflation touched a nine-month high of 11.24 per cent last month.
While the rest of India marches towards the promised destiny of 'progress', Bihar - the heart of India- is doomed to poverty and the injustices of a caste-based society.
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.
RBI kas hiked short-term lending (repo) rate by 0.25 per cent to 7.5 per cent.
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.
It took three years of collective fiscal profligacy and policy mismanagement to cause this crisis.
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The truth is the government and the Reserve Bank enjoy a free, frank and cordial relationship.
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.
Top bankers on Wednesday exuded confidence that Raghuram Govind Rajan, who today took over as the 23rd Governor of the Reserve Bank, has the intellectual prowess to wade through the present difficulties facing the economy and wished him all success for the stint at Mint Road.
Bad loans of PSBs are at Rs 20 trillion. Most of it is, I sense, due to corruption and behest lending. Nobody pays a price for this charade. Not the promoters, the bankers, RBI officials, finance ministry bureaucrats or politicians, points out Debashis Basu.
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Rajan, the academic-turned-central banker who is credited with predicting the global financial crisis, said that voicing of views will have positive effects.
He doesn't expect banks to raise interest rates, as they'd not reduced these after the policy rate cuts in May and March.
The future action on rate change will depend on data said the RBI Chief.
In its quarterly macroeconomic review on Monday, the central bank said it expects inflation to remain near current elevated levels for the remainder of the fiscal year that ends in March.
'Rahul Gandhi's recent video performances offer little hope - the first fell flat in attacking government 'strategy'; the second showed him in a position unbecoming of a leader,' argues T N Ninan.
Pawar asked Modi why he was daring Opposition leaders to bring back Article 370 of the Constitution after it was nullified by Parliament in August.
Rajan, further said, the government was not contemplating more steps to curb gold import, and significant reduction was likely in June.
The days of anti-reform, anti-growth advisers that undermined our economy in the UPA-II years will now be strictly behind us: Bhagwati
The Finance Ministry on Tuesday exuded confidence that recent initiatives of the government will push economic growth rate in the current fiscal and made a case for quick passage of reforms legislations like the GST and insurance bill to improve investor confidence.
India has been assigned the lowest investment grade rating with a high risk profile by various global agencies.
He used an old rule to cut the expenditure allotted to various ministries.
As the global economy sways into uncertain territories and domestic prices almost certain to rise, Raghuram Rajan's ideas would have come in handy.
The Sensex fell nearly 2 per cent on Friday after a surprise rate hike by the RBI led to a slide in rate-sensitives like banking and auto shares.
All eyes are on new Reserve Bank Governor Raghuram Rajan who will come out with his maiden monetary policy review on Friday amid conflicting demands for rate cut and an urgent need to contain inflation which soared to 6-month high of 6.1 per cent in August.
The former Union minister alleged that the government is "intolerant to the slightest criticism".
Rajan has already warned he does not have a 'magic wand' to deal with India's economic crisis.
With September 11's rise, has appreciated 5.5% in just a week
While the RBI has been intervening heavily in both spot and forward markets to support the currency, especially when it nears its record lows, there are technical signs that the rupee is set for some near-term consolidation.
Benchmark indices end at a three week high but Nifty remains shy of 5,600 level.
