RBI governor Raghuram Rajan is clear about cleaning up the mess in the banking system.
Raghuram Rajan said on Friday it is not clear India needs a so-called "bad bank.
The Reserve Bank of India Governor Raghuram Rajan said bringing down inflation would help stabilise the rupee.
The aim of his visit was to explore how financial institutions can be co-opted in reviving the local economy.
The Governor had submitted his report to the Public Accounts Committee and put the blame on 'overall economic downturn'
The appointment of Rajan, a former chief economist of the International Monetary Fund and now a professor of finance at University of Chicago, comes at a time when India, like most of the world economies, is grappling with the impact of the global credit crisis.
Rajan said that demand needs to be reduced without having severe effects on investment and supply.
Rajan said that despite easy liquidity, banks have passed rate cuts into lending rates modestly.
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.
New RBI Governor Raghuram Rajan on Wednesday came out with a slew of measures, including more trade settlement in rupees to rescue the battered financial markets and hinted at a shift in focus from inflation control, doggedly pursued by his predecessor, to boosting growth.
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.
'After a long time, we have a governor who is approachable. The RBI's interactions with us are now much better.'
With the setting of MPC, the interest rate setting powers would move from RBI Governor to the panel.
The RPI-A is an ally of the Bharatiya Janata Party.
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.
He also affirmed that over time, as the government finances improve, the SLR will be brought down further.
India is gearing up to introduce a six-member monetary policy committee that would vote on interest rates.
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.
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.
The premiere of the Netflix movie saw a full house, as Bollywood's A-listers came down to launch the careers of Suhana Khan, Khushi Kapoor and Agastya Nanda.
India has been assigned the lowest investment grade rating with a high risk profile by various global agencies.
Ranbir and Shraddha's playful chemistry is to watch out for in Luv Rajan's rom-com, predicts Namrata Thakker.
'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.
Jaitley said manufacturing sector will continue to face challenges unless it transitions itself while keeping the quality and price in mind.
He also made it clear that the pre-2005 notes will continue to be legal tender.
Helicopters are anticipated to be more in demand compared to fixed-wing aircraft as choppers will help in providing accessibility to rural and remote areas in a shorter time.
'India's biggest loss is that we will not have anyone as principled and as courageous as Rajan.'
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.
RBI is expected to discuss about the impact of GST in its monetary policy.
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.
Indian capital markets joined the global sell-off sparked by China growth concerns
Some accounts can be revived by rescheduling loans, which the RBI envisages to do once the norms get finalised after the public discussion.
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.
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.
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.
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.
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