Urjit Patel's reappointment will raise market hopes that Rajan, will also be offered an extension when his tenure ends in September.
'Democracy is India's greatest strength.'
Experts applaud RBI governor RAghuram Rajan for his good work.
The central bank dashed hopes of any steep interest rate reduction.
The RBI has agreed to consider the application of India Post in consultation with the government.
India's foreign exchange reserves declined by $685.1 million to $274.81 billion in the week ended August 30 due to a dip in the foreign currency assets, the Reserve Bank said.
Fed move based on US economic recovery, which should boost India's exports, narrow CAD and help curb 'imported' inflation
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The RBI has bought Rs 124.62 billion worth of bonds since its announcement on Aug. 20 that it would occasionally buy bonds to relieve some of the cash tightness in the banking system.
Flagging the issue of lack of enough economists in the country, Reserve Bank India (RBI) Governor Raghuram Rajan has said the inability to get quality talent may be hurting policy making.
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.
Raghuram Rajan on Tuesday said the central bank cannot ask them to lower the rates.
'People who come from IMF-World Bank backgrounds have no dynamism at all,' Subramanian Swamy said.
Rajan also said weak results from India's corporate suggested final demand is yet to pick up strongly.
Rajan had overturned the majority opinion of the members and chose to hold the rates at the last monetary policy review in October.
Reserve Bank of India Governor Raghuram Rajan had said recently that there was "no need" to set up a separate bad bank to deal with stressed assets of public sector lenders.
Traditionally, food prices have been seasonal in nature.
Due to lower output from mines, utilities and factories, the July factory output data came down to 0.5 per cent year-on-year, the government data showed on Friday, down from June's revised 3.9 per cent rise.
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The NPAs of banks stood at over Rs 3 lakh crore as on December 2014.
The government is likely to name a successor to Rajan sometime this month
Upside risks to inflation persist from higher growth and expansive govt spending.
The progress we made in recent past should not detract us from making further structural reforms: Rajan
What's encouraging is that the process of unwinding some of the extraordinary steps taken in last July-August is continuing, so moreliberalisation is back on their agenda.
The rupee's travails allow the RBI's incoming governor to renegotiate the objectives of monetary policy.
The government has changed the criteria for infusion of capital.
RBI Governor Raghuram Rajan on Tuesday said the Finance Ministry's decision to provide more capital to PSU banks will lower the borrowing cost and increase their capacity to lend, besides promoting investments.
Governor Rajan stressed on the benefits over a medium-term.
Indian economic growth hit a low of five per cent in the financial year ended March 31,2013 and further slowed in the first quarter of FY14.
Rajan added "many" market participants were convinced that India could hit the RBI's target of bringing down consumer inflation to 6 percent by January 2016.
Onno Ruhl said it is imperative to have a favourable global environment in addition to the domestic advantages.
The BJP MP said the guidelines for grant of licences were 'brazenly flouted'.
Rajan said that despite easy liquidity, banks have passed rate cuts into lending rates modestly.
BSE Realty, Capital Goods and Consumer Durables indices were down by 3% each.
Rajan's first few measures include swap window facility for banks to lure in NRI funds.
RBI Governor has been under pressure from Finance Ministry.
The RBI guv said global economy is actually recovering, though slowly
The immediate challenge to faster growth is to restore stability to the currency markets.
Rajan encouraged the Indian-American business community to get involved in the 'nitty gritty of the implementation process,' saying such involvement was not difficult especially since the Indian government has the political will to reform.
To provide exporters/importers greater flexibility in risk management, RBI enhanced the limit available to exporters to 50 per cent
RBI sees marginal improvement in economic growth to 5-6%.
Panagariya, who heads the government's main economic advisory body NITI Aayog, is also India's Group of 20 summit negotiator
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