The RBI Governor also reiterated his reservation against repeated loan waivers by various state governments, saying the move distorts credit pricing, thereby also disrupting the credit market.
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.
Rajan Committee has evoked divergent reactions from the states.
The RBI governor says, Mahatma Gandhi is the only dignitary which can be featured on rupee notes.
Nikhalje was arrested under Maharashtra Control of Organised Crime Act in 2005 and spent two years behind bars
Bajaj hit out at banks for not passing the entire benefits to consumers.
New Reserve Bank of India chief makes his first monetary policy statement on Friday with expectations he may scale back some of the emergency measures that have helped the rupee bounce from a record low.
The state police has also requested the government to deploy paramilitary forces around the jail premises for the underworld don's security.
If the RBI governor's logic holds, the rupee is far from being extremely overvalued.
Reserve Bank of India Governor Raghuram Rajan said, in an election year, it is better to be ready for any eventuality.
RBI Governor Raghuram Rajan on Tuesday said the government will decide on extension of his tenure.
The core inflation is down and there is a need to push growth.
'We are by no means anywhere nearing having external financing difficulties or internal financing difficulties. The government's credit is solid, there is absolutely no difficulty for the government in borrowing and it is borrowing effectively from the public today in a fairly free public debt market,' the RBI governor tells a meeting in Washington, DC
RBI had previously cut repo rate by 0.25% each in January and March.
Design of these notes to be issued now is similar in all respects to the Rs 1000 Banknotes in Mahatma Gandhi Series-2005 issued earlier, RBI said.
'I think the markets will move up given that there will be more money.'
He will presumably choose to remain true to the framework he has put in place.
Hardik Pandya has quit Gujarat Titans to rejoin his former team Mumbai Indians, following a trade between the two franchises.
Given that the public is no longer willing to tolerate lack of transparency, politicians will see they have no alternative but to change, feels Raghuram Rajan, economic advisor to the prime minister. Interestingly, Professor Rajan made this hard-hitting speech at an event to release a book in Prime Minister Manmohan Singh's honour.
Two Chhota Rajan gangsters, held for their alleged involvement in the Jawaharlal Nehru Port Trust arms smuggling case, were on Tuesday remanded to police custody till July 26 by a local court.
RBI Governor has dismissed the notion that the rural employment guarantee programme is behind the massive spurt in wages in rural areas.
Rajan's comment comes against the backdrop of certain BJP leaders questioning his policies to deal with the current economic woes.
Karnataka State Disaster Management Authority Commissioner Manoj Rajan said, 'We have got a message that a group of 31 people hailing from Karnataka are stranded in Sudan. We have informed the Ministry of External Affairs about it.'
India's inclusion in JP Morgan's bond index can channel billions of dollars into India. How will the government securities market handle it?
The RBI Governor had earlier cautioned the banks on the risks involved in just hunting for numbers, asking them not to compromise on core objectives of the programme.
The mid-year analysis lowered the growth projection for the current financial year to 5.7-5.9 per cent from 7.6 per cent estimated earlier.
Reserve Bank of India (RBI) Governor Raghuram Rajan on Tuesday cautioned against extrapolating the issue of alleged graft charges in a public-sector bank to the entire public sector banking system.
The fresh batch of evacuees arrived in Bengaluru, a day after 365 people returned from the African country to Delhi.
Individuals will have to wait for some more time; RBI may do away with mid-quarter policy reviews.
The police booked him under the stringent Maharashtra Control of Crime Act for allegedly demanding money from a builder.
A panel headed by Reserve Bank of India deputy governor Urjit Patel recommended in January moving to an inflation target.
Nikalje in his application stated that he had gone to Chembur on November 30 to help pacify the mob and not to incite them as claimed by the police in the FIR against him.
A Delhi court on Friday directed the Central Bureau of Investigation to consider the plea of underworld don Chhota Rajan's sisters, who sought its permission to meet their brother currently in the probe agency's custody, on the occasion of 'Bhai Dooj', saying they have not met him for the past 27 years and wanted to bless him.
The NPA of the public sector banks rose to 6.03% as of June 2015.
'From where prime ministers sit, it makes no difference at all who occupies the governor's post.' 'Literally anyone with a decent education or work experience can be appointed to the job, which is basically a managerial one with little room for manoeuvre,' says T C A Srinivasa-Raghavan.
The comments assume importance as the traditional position of the central bank has been not to set a forex reserves target.
RBI Governor Raghuram Rajan on Friday defended his development index for measuring backwardness of states, saying the aim is to "encourage development" and "everything over and above that is a political spin."
Rupee, he said, is not in shambles and "we should not be overtly pessimistic".
.jpg)
The Congress led UDF government in Kerala has asked Prime Minister Manmohan Singh to reject the Raghuram Rajan panel report evolving new formula for devolution of funds to states.
The Maharashtra government's decision to hand over all the cases against underworld don Chhota Rajan to the Central Bureau of Investigation has not gone down well with the Mumbai Police with several senior officials criticising the move stating that it has raised doubts over their ability.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances