It took three years of collective fiscal profligacy and policy mismanagement to cause this crisis.
Top bankers on Wednesday exuded confidence that Raghuram Govind Rajan, who today took over as the 23rd Governor of the Reserve Bank, has the intellectual prowess to wade through the present difficulties facing the economy and wished him all success for the stint at Mint Road.
RBI Governor flayed easy monetary policy of central banks in advanced economies saying it is "more cause than medicine".
Investors will see that India story actually continues to be a good one, he said.
Industrial countries cannot at this point wash their hands off developing economises and say we will do what we need to, and you do the adjustment you need to, says RBI Governor.
'For every person there is a different way that you show respect for your country...my mother-in-law will say karmayogi is the way to go - do your work.'
Uber had run into trouble with the RBI over the two-payment process
Declining value of the rupee, widening Current Account Deficit (CAD) and the impact of likely tapering of US bond purchases are some of the key issues which will keep Raghuram Rajan busy.
The new pay scale will come into effect from January 1.
'RBI and the economy will gain tremendously from Urjit Patel's experience in both private and public sectors'
The Reserve Bank on Tuesday nudged banks to cut lending rates.
Delhi Chief Minister Arvind Kejriwal, who was sent to Tihar Jail after a court remanded him in judicial custody till April 15 in the excise policy case, will remain under 24x7 watch with CCTV cameras in his cell and could watch TV and read books, officials said.
Royal Challengers Bengaluru's IPL campaign that began with optimism has melted into chaos. Their bowlers require a drastic transformation in mindset against Sunrisers Hyderabad for them to register an elusive win in Bengaluru on Monday.
Rajan further said the current account deficit would be better in June than in May.
The dealers operating in the space have jumped nearly three times over the past two years.
There is little scope for significant monetary easing even in the next fiscal year.
Underworld don Chhota Rajan's aide Rohit Thangappan, who was behind bars for the murder of senior scribe Jyotirmoy Dey, was on Wednesday arrested in connection with a firing case involving a hotelier, two days after a local court sought his production, the police said.
The decisive election victory for the Narendra Modi-led National Democratic Alliance has created a conducive environment for policy actions and should help in economic recovery, Reserve Bank of India Governor Raghuram Rajan said on Tuesday.
With the 'busy credit season' which witnesses a spurt in loan demand going up, it would be good to lower the rates ahead of it
Rajan also said the RBI had reduced the current account deficit "substantially".
Calls for a rethink on why some sectors should get more easy credit than others
His team has projected a higher growth of 6.1-6.7 per cent in the next fiscal.
RBI has kept interest rate unchanged at 8 per cent since January
Pushed into a tight corner, Royal Challengers Bengaluru rose above their frailties to notch four wins on the trot and stay alive in the race to play-offs. However, a volatile Delhi Capitals offer them a different challenge in their penultimate IPL league match in Bengaluru on Sunday.
Will seek to bring inflation to the mid-point: Rajan
By March 28, the reserves rose by a whopping $5.038 billion to $303.673 billion, the second highest in the fiscal.
he feels they are prone to misuse by borrowers, including farmers, and suggested a rate ceiling for loans by micro finance lenders.
Guruvayoorambala Nadayil is a no-holds-barred, silly comedy that will keep you glued to the screen even when the going gets tough towards the end but the smile on your face will not leave, observes Arjun Menon.
He called on developed countries to play their part in restoring international monetary cooperation.
The government's step to curtail fiscal deficit is helping the central bank's monetary policy, Rajan said.
The Central Bureau of Investigation has taken over the probe into the murder of Hanif Kadawala, an accused in the 1993 Mumbai blasts case who gave an AK-56 rifle to actor Sanjay Dutt, and registered a case against gangster Chhota Rajan and his accomplices in this regard.
The policy will be presented in the backdrop of rising inflation.
The government-appointed Financial Sector Legislative Reforms Commission (FSLRC) has recommended a slew of reforms to overhaul the sector.
According to report by Dun and Bradstreet, central bank expected to maintain status quo on policy rate.
The convertibility is RBI Governor's 'next big ambitious goal'.
RBI could opt for a 'deep cut' after winning inflation war, say experts.
Special Judge A L Pansare allowed CBI's plea seeking nod to question the 54-year-old crime boss for 10 days starting January 27 before adjourning the case till February 5.
"The issue in Iraq is still an area of uncertainty.
Says impact of crisis in China won't be as big here as in some other countries
The Bengaluru outfit will hope for a reversal at the Sawai Man Singh Stadium, a venue that carries similar traits as RCB's home -- Chinnaswamy Stadium -- in terms of a smooth pitch and a blistering outfield adding value to the batters' shots.
