AIBEA said that on April 19 its officer bearers would meet in Punjab to decide the next course of action.
Raghuram Rajan's three-year term is the shortest of any G20 country and the recent governors have been given second terms as much as seven months in advance.
The Reserve Bank of India Governor Raghuram Rajan said bringing down inflation would help stabilise the rupee.
The RBI targets inflation at 6 percent by January 2016 and 4 percent for 2017/18.
The rupee has gained 1.89 percent against the dollar in the month to date and 2.93 percent in the past six months.
Rajan has a great track record abroad.
RBI governor is seen succeeding International Monetary Fund (IMF) chief executive officer, Christine Lagarde, next year.
Finance Minister P Chidambaram held informal consultations on Wednesday on possible candidates for the Reserve Bank deputy governor's post.
RBI to ensure loans rate fall
The mismatch between industrialists' demand and account holders is because of inflation, Rajan said.
India is better prepared to deal with any further US Fed tapering, but the country needs to remain vigilant to face eventualities, Reserve Bank Governor Raghuram Rajan said.
Rajan's departure from the RBI is an end to 'outside interference' in policy making, government insiders feel.
Rajan also said the RBI had reduced the current account deficit "substantially".
In his address at a conference of state secretaries, Rajan stressed the need to strengthen state-level coordination committees by ensuring participation, conducting meetings more frequently and sharing quality information among all stakeholders, including state government agencies.
Rajan said an interest rate cut won't by itself lead to higher economic growth
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The year-end should not be a time for any spectacular changes in the banking system and must pass smoothly, Rajan told reporters after announcing the bi-monthly monetary policy, which left key policy rates unchanged.
Media has gone beyond its traditional boundaries.
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KC Chakrabarty who was appointed as RBI deputy governor in 2009, is considered frank with his views.
Rajan expressed concerns on pressures on the services front.
IMF chief said the G20 leaders need to respond to the calls for creating jobs.
Meanwhile, Wholesale Prices Inflation (WPI) numbers which were announced on Thursday, accelerated to an eight-month high of 7.0% in October.
RBI Governor Raghuram Rajan will also participate in the meet.
Rajan posed the question while speaking at the annual leadership conference in Mumbai National Association of Software and Services Companies.
Reserve Bank Governor Raghuram Rajan on Friday said the recent rally in the rupee is comforting but said the currency has not yet achieved stability which will only be reached when he stops keeping a "minute-by-minute" track of the unit.
Rajan said the relationship between the RBI and the government has been strong.
Last August, RBI gave in-principle approval to 11 applicants.
RBI Governor Raghuram Rajan plans to write on 'academic issues' after leaving the Reserve Bank.
Rajan said the RBI is working on upgrading the capabilities of its inspectors to undertake bank system audits as well as to detect vulnerabilities in them
He also made it clear that the pre-2005 notes will continue to be legal tender.
Considering the economic downturn, the banking sector should help strengthen the cooperative sector to encourage small and medium industries and create jobs, Chavan said.
Describing the BJP's election victory as an "astonishing triumph of Narendra Modi", noted economist Jagdish Bhagwati on Monday advised him to retain Raghuram Rajan as RBI Governor and to hold monthly press conferences to articulate the government's agenda.
Two members recommended bringing down the rate by 50 bps in the April policy.
Rate cuts are a natural consequence that the RBI has no hesitancy in delivering.
The solution to this problem lies only in making the system more efficient, he said.
Former Reserve Bank Governor Raghuram Rajan said India will still remain a lower middle country if the potential growth rate remains at 6 per cent annually without any rise in population by 2047 (Amrit Kaal) and will be reaching the end of the demographic dividend by then. Speaking at a programme organised by Manthanon on Saturday, the economist said if the country does not grow faster, it will grow older (demographically) before it gets richer, which means there is the burden of an aging population to deal with also at that point. Rajan said the GDP growth in India for the past two quarters was in the region of 7.5 per cent and if one looks at the labor force participation, it is very low and when it comes to female participation, "it is the lowest in the G20".
After Chakrabarty's exit there will be two vacancies for deputy governors in the central bank.
Rajan had said that there was lack of clarity about the new method.
This was the near-unanimous replies of 10 market participants.
Tension between the government, specially the finance ministry, and RBI is as old as the central bank itself.
"I'm taking a minute to respond... I do respect Raghuram Rajan as a great scholar who chose to be in the central bank in India at a time when the Indian economy was all buoyant," Sitharaman said during the lecture organised by the Deepak and Neera Raj Centre on Indian Economic Policies of the Columbia University.
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