Rajan's exit will neither affect the RBI's de facto independence nor its working.
His finest years came when he served as deputy governor under C Rangarajan.
Issuance of new bank licences proves that the apex bank wants the financial sector to flourish.
The size of the hole in today's banking crisis appears to be roughly 10 per cent of GDP.
Rajan tells RBI colleagues he will be returning to academics
These figures are based on purchasing power parity of 2005.
'Let us also not expect that there will be a clean break with the past, much though the new government might like to think about it. In a functional democracy that is neither feasible nor desirable. But basic change it must be,' says Shreekant Sambrani.
Says licensing of new banks should be a continuous process instead of the current stop-go system
Are we adopting an idea whose time has come and gone? My feeling is, yes, says ex-banker C Joseph Chacko in the fourth article of the series on inflation targeting.
The World Bank said improved infrastructure, specifically rural electrification, has had far-ranging effects
'The Reserve Bank's independence has remained a work in progress, an enduring challenge that the nation has been grappling with on an ongoing basis,' says RBI Deputy Governor Dr Viral Acharya.
'We cannot capture the mind space of today's youth by evoking past sacrifices. Politics is about hope; hope for the future. The Congress hankers about the past too much.'
Mahesh Rangarajan, director of the historic Nehru Memorial Museum and Library in New Delhi, tells Sheela Bhatt how the first prime minister will always remain relevant, and the efforts being made to keep his legacy alive.
A summary of the opening day's play from the Ranji Trophy matches at various venues across the country.
FM needs to convince Indians to invest more in stocks.
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