While he has plenty of critics at home, Rajan is a favourite among foreign investors and has been credited for bringing inflation under control.
"Now I get credit for the idea which actually I neither invented nor actually believed in," he said.
The government is likely to name a successor to Rajan sometime this month
Reserve Bank of India (RBI) Governor Raghuram Rajan's decision to cut rates last week surprised even top officials.
RBI data show one-fifth of all the infrastructure loans are stressed and the share of such loans in overall stressed assets is nearly a third.
RBI Governor Raghuram Rajan, who today surprised markets with a rate hike, defended the move saying a rate cut would not have impacted either banks or borrowers and that bringing down retail prices is the key to sustainable growth.
RBI Governor Raghuram Rajan on Tuesday said the Finance Ministry's decision to provide more capital to PSU banks will lower the borrowing cost and increase their capacity to lend, besides promoting investments.
Here is some background on the candidates seen as potential successors to Rajan at the RBI
The man widely expected to be India's next central bank chief favours clipping the autocratic power of the role and giving more say to a monetary policy committee.
It would amount to penalising the people, who make an attempt to repay loans.
'Industrial countries are still struggling, with a few exceptions, to grow and the uncertainty about growth in the US as well the world is probably what impelled the Fed to stay on hold.'
Will seek to bring inflation to the mid-point: Rajan
After the screening, the shortlisted candidates will be vetted by an external committee, to be headed by former RBI governor, Bimal Jalan.
Rajan's exit will neither affect the RBI's de facto independence nor its working.
The RBI Governor brought down retail inflation to 3.8% in July.
'The RBI risks becoming dangerously weakened, as successive governments and finance ministers have misunderstood its role'.
Reserve Bank of India (RBI) Governor Raghuram Rajan spoke on a host of issues at his last post-policy interaction with the media
RBI could opt for a 'deep cut' after winning inflation war, say experts.
Reserve Bank of India (RBI) Governor Raghuram Rajan has set himself a target of lowering consumer inflation and is even ready to raise rates to achieve it, risking friction with the new government, if he is seen as overstepping.
Jaitley has made it a habit of giving soundbytes to the media like his predecessors on why RBI should cut interest rates
It's time the regulator did some introspection.
Former DDCA president Sneh Bansal had written a letter to the Lodha Panel secretary Gopal Shankarnarayan, claiming that all 24 directors of DDCA are ineligible as per Supreme Court ruling on January 2, but treasurer Ravinder Manchanda claimed otherwise.
RBI is expected to discuss about the impact of GST in its monetary policy.
The policy will be presented in the backdrop of rising inflation.
'The prime minister's comment on 'revdi culture' was welcome. But I am disappointed he did not follow up on that.' 'All political parties, including the BJP, have been guilty of this.' 'Now, Modi's guarantees, the Congress's 'nyay' path and both ruling and Opposition parties are vying with each other for freebies in my home state Andhra Pradesh.'
Swamy now wants Arvind Subramanian, one of the front runners for the post of the new RBI governor to be sacked.
Medical seats for under-graduates and post-graduates remaining vacant in the NEET era, together with the Centre 'freezing' the number of medical colleges and seats in (Dravidian) Tamil Nadu and the launch of the PM's 'Vishwakarma Scheme' for the nation's craftsmen, are all seen as a bid to further reverse the state's progressive socio-economic agenda of and its achievements of the past hundred-plus years, argues N Sathiya Moorthy.
The Madras high court on Tuesday dismissed a public interest litigation challenging the Tamil Nadu government constituting a panel on the National Eligibility-cum-Entrance Test (NEET), saying it was not contrary to the orders of the Supreme Court on the matter.
Rajan strongly defends RBI's decision to hold the key rates in the absence of any new data points.
RBI conducts interviews for first lateral hire for CGM post; deputy governors to head four distinct verticals.
It would be beneficial for the economy to hold on to high interest rates till inflation numbers are under control.
He has had a productive first year at the RBI -- one which saw, also, India's economic imbalances improve and the unexpectedly strong general election outcome.
The government's step to curtail fiscal deficit is helping the central bank's monetary policy, Rajan said.
RBI governor Raghuram Rajan says, laws must be tightened for freeloaders.
Says impact of crisis in China won't be as big here as in some other countries
Two members recommended bringing down the rate by 50 bps in the April policy.
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.
Bihar Chief Minister Nitish Kumar on Friday called for a daylong 'Bihar Bandh' on March 1 to protest against denial of special category status to the state by the Congress led UPA government.
The RBI has agreed to consider the application of India Post in consultation with the government.
We need a change in mindset, says the RBI Governor.
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