The RBI working group's proposal to allow corporate houses to set up banks is a "bombshell" and at this juncture, it is more important to stick to the tried and tested limits on involvement of business houses in the banking sector, according to an article jointly written by former RBI Governor Raghuram Rajan and ex-Deputy Governor Viral Acharya. They also said that the proposal is "best left on the shelf".
The central bank and Indian government has reached a "broad consensus" on the composition of a rate-setting panel.
RBI governor is seen succeeding International Monetary Fund (IMF) chief executive officer, Christine Lagarde, next year.
"Finance Ministry and RBI keep talking all the time," Rajan said.
In his address at a conference of state secretaries, Rajan stressed the need to strengthen state-level coordination committees by ensuring participation, conducting meetings more frequently and sharing quality information among all stakeholders, including state government agencies.
An early choice will also allow Mr Rajan to do some hand-holding.
Even though the NIA claims that more than 90 per cent of cases charge-sheeted have ended in conviction, the figure is likely misleading. To date, very few cases investigated by the NIA have resulted in a completed trial, points out former CBI joint director Navneet Rajan Wasan.
After Raghuram Rajan leaves, the world for the succeeding RBI governors will be distinctly different.
Kerala Chief Minister Pinarayi Vijayan on Thursday said the rescue mission in the landslide-hit Mundakkai region of Wayanad could take a few more days, and appointed a cabinet sub-committee of four ministers to coordinate the rescue efforts.
DBS called Rajan's decision not to seek an extension as a 'negative surprise'.
RBI Governor cautioned against more volatility.
Even before Prime Minister Narendra Modi swept to power in 2014, Subramanian Swamy was agitating for Rajan's removal.
'There will be no serious effect on Indian economy because one person, one man, however powerful, however influential, however great, cannot have an impact on an economy as big and complex as India.'
Raghuram Rajan said the head of the central bank should have a fixed tenure of more than three years as the current term was too short.
The mismatch between industrialists' demand and account holders is because of inflation, Rajan said.
"I am an academic and I have always made it clear that my ultimate home is in the realm of ideas," Rajan said in a letter to staff.
RBI Governor Raghuram Rajan is regarded as credible by global financiers.
Rajan tells RBI colleagues he will be returning to academics
RBI Governor Raghuram Rajan on Tuesday kept the repo rate unchanged 6.50 per cent.
The Governor had submitted his report to the Public Accounts Committee and put the blame on 'overall economic downturn'
Rajan said it is hard to offer an objective self-assessment but the RBI should probably have raised more flags about the quality of lending in the early days of banking exuberance.
With the setting of MPC, the interest rate setting powers would move from RBI Governor to the panel.
He said the short term macroeconomic priorities of the RBI continue to focus on bringing down inflation towards the government-set target of 4 per cent
Urjit Patel's reappointment will raise market hopes that Rajan, will also be offered an extension when his tenure ends in September.
Zed was elected unopposed in the last US mid-term elections to the office of general improvement district trustee of Verdi TV district in the state.
The government's critics say that the Prime Minister failed to rein in vicious and unprecedented personal attacks on the central bank chief by the likes of Rajya Sabha MP Subramanian Swamy.
Raghuram Rajan rejected the argument that inflation has come down largely because of "good luck" stemming from low oil prices.
The industrial output for the third month in a row remained in the negative territory, contracting 1.5% in January
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The Congress led UDF government in Kerala has asked Prime Minister Manmohan Singh to reject the Raghuram Rajan panel report evolving new formula for devolution of funds to states.
Raghuram Rajan panel report has made a case for ending the 'special category' criteria.
Tamil Nadu chief minister M K Stalin has written to his counterparts in 11 non-BJP ruled states and Goa, seeking their support to oppose the National Eligibility cum Entrance Test and restore 'the primacy of states' in education, the government said on Monday.
There is also a lobby within the bureaucracy that wants to see Rajan's influence curtailed
Rajan will be closely working with the RBI governor and the four deputy governors to gain familiarity with the central bank's stance on various issues.
Reserve Bank Governor Raghuram Rajan on Thursday said the central bank will continue its focus on taming inflation, speeding up resolution of distressed projects and ensuring enough capital for banks through balance sheet clean-up.
A two-year extension at the helm of the RBI still looks a real possibility
Finance Minister Arun Jaitley said RBI and the government are in continuous dialogue and that relationship will continue.
'I think some of us, like Mukesh Ambani, myself and those of us who head industrial units, ought to really focus on what we can really do to make the world a safer place, maybe 50 or 100 years from now.' 'For instance, how can we deal with climate change and global warming, right now?' 'The effects of it may not be felt now; in fact, we may pay a price for it today, but it will help the generations to follow.'
'The CoA feels that if David has declared and is not taking remuneration from India Cements, he is not in conflict'
The Governor, who completes one year in RBI on Wednesday, has stabilised the rupee and is getting a fix on inflation.
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