...but when they awaken, it's going to be overly optimistic to assume everybody will walk off the sleeping bed and come back to full life, Rajan noted.
Reserve Bank Governor Raghuram Rajan on Friday said banking sector will see major changes in the coming years.
'India's biggest loss is that we will not have anyone as principled and as courageous as Rajan.'
'We have 100,000 students going abroad every year.' 'So, we have room for at least 100 universities of very high quality to service those 100,000 students.'
Foreign brokerage HSBC said emergence of pleasing data and the likelihood of RBI holding its key rate on April 1, should not lead to believing that the rate tightening cycle is over.
Rajan spoke at the Delhi Economic Conclave 2013 on 'The Agenda for the Next Five Years' in New Delhi.
He endorsed transparency and financial stability in addition to issues related to inclusive growth and development, write Puran Singh and Nupur Pavan Bang.
Even before Prime Minister Narendra Modi swept to power in 2014, Subramanian Swamy was agitating for Rajan's removal.
The EC is yet to decide on RBI's request to grant new licences during the election season.
The RBI is expected to issue only a few bank licences after completing due diligence.
Raghuram Rajan said on Friday it is not clear India needs a so-called "bad bank.
Graphic representation of lending rate cut by RBI.
After the e-mail was received, the RBI officials alerted the police.
Reserve Bank is scheduled to announce its bi-monthly monetary policy on August 3.
The RBI's bi-monthly policy review on June 3 will be the first after Prime Minister Narendra Modi assumed office on May 26.
.jpg)
The central bank will come out with two measures on restructuring to tackle financial stress, Rajan said.
If Mr Rajan's citizenship is considered relevant for heading an organisation that issues sovereign currency, should the provenance of a participant in a critical function of a sovereign democracy not count as well?
The new hire, Gangadhar Darbha, joined as a consultant
'The RBI risks becoming dangerously weakened, as successive governments and finance ministers have misunderstood its role'.
Rajan was expected to join the search committee to appoint three external members of a new six-member RBI Monetary Policy Committee
Undaunted by what non-ideal mortals call pragmatic reality, he rolled up his sleeves on his first day in office and rolled out a series of measures that turned sentiment, as if on a dime.
Rajan said that while there were talks about Jan Dhan, it was difficult to target transfers to people through this tool. Jan Dhan, he said, does not really work as advertised.
Former Reserve Bank of India (RBI) Governor Raghuram Rajan says the government should take advantage of the peaks in the Indian equity markets right now and sell stakes in PSUs while prioritising spending to get the economy back on track. The upcoming Budget for the fiscal year beginning April 1 should look to provide "relief to the poorer households and small and medium enterprises," he said. And then move on to getting the economy back on track.
Fraudulent emails exhorting people to deposit cash for reward are on the rise.
Raghuram Rajan's signal of a neutral stance is at odds with concerns about inflation and markets' revised expectation of more increases in the repo rate
A panel headed by Reserve Bank of India deputy governor Urjit Patel recommended in January moving to an inflation target.
Says impact of crisis in China won't be as big here as in some other countries
The report also described the RBI as an "extremely visionary, pragmatic and fairly independent" organisation throughout its history
The RBI kept its key policy repo rate unchanged at 8.0 percent in its recent monetary policy.
RBI governor Raghuram Rajan says a cut in cash reserve ration will not at all impact lending rates.
Rajan, who has also served as chief economist at the International Monetary Fund (IMF), said he had no idea what statistics are pointing at currently and "a revamp" was needed "to really figure out what India's true growth rate is".
He doesn't expect banks to raise interest rates, as they'd not reduced these after the policy rate cuts in May and March.
Traditionally, Prime Minister picks the RBI Governor after consultation with the finance minister.
For India, Fitch Ratings has 'BBB-' rating.
Raghuram Rajan, whose current three-year tenure ends on September 4, has already said no to a second term.
The rank of COO is the latest in a series of decisions that met with internal resistance at Mint Road and now North Block.
RBI governor Raghuram Rajan has slashed rated by 50 bps.
Finance Minister Arun Jaitley said in a Twitter post that the government appreciated all of Rajan's good work and respected his decision
While achieving an eight per cent retail inflation rate by January 2015 is well within reach, Reserve Bank of India Governor Raghuram Rajan notes there is a second target, of six per cent by 2016.
RBI governor highlights the role of fate in his career at a meeting of the IIM-A alumni.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances