India has been assigned the lowest investment grade rating with a high risk profile by various global agencies.
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.
'We will supply dollars in case of extreme volatility.'
'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.
Governor also says two-stage verification for card transactions might go; RBI in process of setting up IT arm
To help cut down on current account deficit.
'India's biggest loss is that we will not have anyone as principled and as courageous as Rajan.'
Jaitley said manufacturing sector will continue to face challenges unless it transitions itself while keeping the quality and price in mind.
RBI is expected to discuss about the impact of GST in its monetary policy.
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.
He also made it clear that the pre-2005 notes will continue to be legal tender.
Indian capital markets joined the global sell-off sparked by China growth concerns
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.
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.
Some accounts can be revived by rescheduling loans, which the RBI envisages to do once the norms get finalised after the public discussion.
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.
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.
RBI wants the lending rates to be determined by the market.
The arrests have been made by officials of Sector 126 police station as part of a crackdown on narcotics ordered by police commissioner Laxmi Singh, deputy commissioner of police (Noida) Harish Chander said.
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.
Terming Rajan as "India's prescient banker," Time said he is among a rare breed of "economic seers".
A two-year extension at the helm of the RBI still looks a real possibility
RBI governor Raghuram Rajan says a cut in cash reserve ration will not at all impact lending rates.
The central bank and Indian government has reached a "broad consensus" on the composition of a rate-setting panel.
Central bank Governor Raghuram Rajan drew kudos from Moody's Analytics for his monetary stance.
India on Tuesday said it does not anticipate any problem in bringing back Chhota Rajan from Indonesia as he was arrested on a Red Corner Notice issued by Interpol.
The Enforcement Directorate has arrested four persons including the MD of the Lava International mobile company and a Chinese national as part of its ongoing money-laundering probe against Chinese smartphone-maker Vivo, official sources said on Tuesday. They identified the four as Hari Om Rai, the MD of Lava International company, Chinese national Guangwen Kyang, chartered accountant Nitin Garg and a person called Rajan Malik. They have been taken into custody under the provisions of the Prevention of Money Laundering Act (PMLA).
India's macroeconomic indicators are improving and inflation has been coming down consistent with the central bank's forecast, but Asia's third-largest economy needs investment growth to pick up, he added.
RBI itself is part of the multi-agency group announced by the Indian government to monitor such holdings and take appropriate action.
However, there were conflicting reports about the number of blasts as state ministers VN Vasavan and Antony Raju said there were two blasts, while Congress MP from Ernakulam, Hibi Eden, said there were multiple blasts according to one of his friends who attended the convention.
The meeting, which comes just days before the next bi-monthly monetary policy review on June 3, lasted for about 50 minutes.
Minutes after the Union Cabinet approved raising the cap on subsidised liquefied petroleum gas (LPG) cylinders from nine to 12 per connection in a year, Reserve Bank of India (RBI) Governor Raghuram Rajan questioned the decision, suggesting it was "misdirected subsidy".
Reserve Bank Governor Raghuram Rajan expressed confidence in India's growth and said the country is on target to meet Jan inflation target of below 6%.
RBI Governor Raghuram Rajan on Friday said repo rate has been hiked as inflation pressures remain high.
The Governor, who completes one year in RBI on Wednesday, has stabilised the rupee and is getting a fix on inflation.
After two rate hikes in less than six weeks aimed at curbing inflation, RBI Governor Raghuam Rajan on Wednesday said the central bank may be done with interest rate increases as their impact on the economy is assessed.
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.
The special Maharashtra Control of Organised Crime Act court on Thursday rejected the bail application of Paulson Joseph, an alleged Chota Rajan aide, arrested in connection with the murder of senior journalist Jyotirmoy Dey.
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