The Reserve Bank of India Governor Raghuram Rajan said bringing down inflation would help stabilise the rupee.
Tata Motors owned Jaguar Land Rover will start producing its Range Rover and Range Rover Sport in India, marking a first for the iconic models in their 54-year long history, to be rolled out from a country outside of the UK. Till now the two models were only produced in Jaguar Land Rover's Solihull plant in the UK and then exported to around 121 markets globally, including India.
Fugitive gangster and drug smuggler Santosh Shetty has been arrested in Bangkok by the Thailand police. Mumbai crime branch officials took him into custody on Thursday.
The Governor had submitted his report to the Public Accounts Committee and put the blame on 'overall economic downturn'
Pujari is allegedly involved in eight serious cases in Mumbai, including firing, extortion and murder. A resident of Tagore Nagar in Vikhroli, he had fled from the country years ago. He had allegedly targeted builders and businessmen in eastern Mumbai, the crime branch official said.
The Congress on Friday claimed that that "vitriolic tirade" against RBI Governor Raghuram Rajan by Subramanian Swamy has the "full backing" of NDA government and Bharatiya Janata Party.
Rajan said that despite easy liquidity, banks have passed rate cuts into lending rates modestly.
Chhota Rajan, one of India's most wanted gangster, has been arrested in the tourist town of Bali, Indonesia on a Red Corner Notice issued by Interpol after eluding law enforcement agencies for over two decades.
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.
He also affirmed that over time, as the government finances improve, the SLR will be brought down further.
With the setting of MPC, the interest rate setting powers would move from RBI Governor to the panel.
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.
India is gearing up to introduce a six-member monetary policy committee that would vote on interest rates.
India has been assigned the lowest investment grade rating with a high risk profile by various global agencies.
To help cut down on current account deficit.
'Democracy is India's greatest strength.'
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.
'We will supply dollars in case of extreme volatility.'
Indian family-run business houses have in recent years seen ugly public spats between owners over control. But metals-to-ports conglomerate Essar's Ruia family seems to be an exception. Three generations of the Ruia family - founder brother Shashi and Ravi Ruia, their children and grandchildren - continue to live under one roof and jointly run the business empire.
Applauding Facebook co-founder Mark Zuckerberg for the reported pledge to give majority of his wealth to philanthropy, well known Hindu statesman Rajan Zed has called upon India's billionaires/millionaires to make similar pledges.
Sunrisers Hyderabad will look to unleash their brute batting power on struggling Royal Challengers Bengaluru when the two teams face off in their return-leg fixture of the IPL in Hyderabad on Thursday.
Jaitley said manufacturing sector will continue to face challenges unless it transitions itself while keeping the quality and price in mind.
Governor also says two-stage verification for card transactions might go; RBI in process of setting up IT arm
He also made it clear that the pre-2005 notes will continue to be legal tender.
Some accounts can be revived by rescheduling loans, which the RBI envisages to do once the norms get finalised after the public discussion.
Rajan said banks have typically become used to reasonably slow moving base rate which gives them time to adjust the deposit cost before they adjust lending.
The Governor of the Reserve Bank of India may need all the suave charm of the fictional British spy to sell that same hard-nosed agenda to a powerful new prime minister.
In cutting interest rates and giving a boost to the government's efforts to revive growth, RBI governor Raghuram Rajan displayed the pragmatism and flexibility familiar to those who work with him.
RBI is expected to discuss about the impact of GST in its monetary policy.
'India's biggest loss is that we will not have anyone as principled and as courageous as Rajan.'
Indian capital markets joined the global sell-off sparked by China growth concerns
Raghuram Rajan, Governor of the Reserve Bank of India, has scoffed at the contention that BJP's Prime Ministerial nominee, Gujarat Chief Minister Narendra Modi will be the knight in shining armour who will root out corruption in India.
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 RPI-A is an ally of the Bharatiya Janata Party.
Governor Raghuram Rajan has asked his colleagues to ensure that the central bank is not seen as mere "paper tiger" and even rich and powerful wrong-doers are not spared.
RBI wants the lending rates to be determined by the market.
Central bank Governor Raghuram Rajan drew kudos from Moody's Analytics for his monetary stance.
The central bank and Indian government has reached a "broad consensus" on the composition of a rate-setting panel.
RBI governor Raghuram Rajan says a cut in cash reserve ration will not at all impact lending rates.
RBI Governor Raghuram Rajan on Friday said repo rate has been hiked as inflation pressures remain high.
