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India's trade deficit widened to $20.1 billion in May because of high gold imports while exports declined by over a per cent, raising concerns about economic recovery.
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Policymakers stepped in late Thursday to calm markets.
The RBI governor-designate may be economical with spoken words, but is known for his sharp and critical writings
RBI ex-governor's book on 'those turbulent but exciting times' to be launched on Sept 5 in Chennai.
Rajan's appointment will be perceived as a positive development.
Some accounts can be revived by rescheduling loans, which the RBI envisages to do once the norms get finalised after the public discussion.
Thanks to Rajan we are an inflation-targeting country now
'I am sure Dr Patra will get the fullest cooperation from the finance minister who needs workhorses, not prima donnas constantly looking to improve their CVs,' says T C A Srinivasa-Raghavan.
The currency fell 3.4 per cent this week, and is below the levels at which it was trading on July 15 when the Reserve Bank of India unveiled its cash tightening steps to defend the currency.
T C A Srinivasa-Raghavan recalls a tussle between the government and RBI when Rajiv Gandhi was prime minister and how it was resolved.
YES Bank raises base rate; HDFC Bank, Axis hike deposit rates.
The RBI stipulated on Thursday that foreign institutional investors would require a mandate from participatory note holders to hedge on their behalf.
Market participants are impressed that Rajan has set the ball rolling on his first day at RBI with a series of announcements, raising expectations that more are in store.
The rupee is being driven into a vicious circle.
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 30-share Sensex ended down 90 points at 19,429 after hitting an intra-day low of 19,398 and the 50-share Nifty ended down 40 points at 5,881 after touching an intra-day low of 5,871.
Never one to mince words, Rajan will walk away with a mixed legacy
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.
Angry Congress members staged a walkout during Modi's address.
Reddy has worked to reform the economy.
The finance ministry is working on a Cabinet note for establishing a full-fledged Public Debt Management Office, officials told Business Standard.
Rajan, as expected, furthered his predecessors' agenda and continued with the same resolution to make India's financial system safer, and direct the economy towards further liberalisation
Rajan tells RBI colleagues he will be returning to academics
Raghuram Rajan remains focused on a long-term inflation target of 4 percent.
Hawkish tone likely to guard rupee from further slide
Experts point to the bitter experience of countries including Mexico, Thailand, South Korea and Russia and desist from going forward with plans of issuance of such securities. They say rather than going abroad, the country should increase participation of foreign investor in the government securities which does not have any forex risk.
The principal challenge for Rajan's successor is to work with the Bank Board Bureau and the finance ministry to complete these processes of banking reform.
Manmohan Singh, reveals the former President, was keen that either P Chidambaram or Montek Singh Ahluwalia be the finance minister.
Policymakers have been grappling with high prices for food staples such as onions and potatoes even after the central bank raised interest rates by a quarter percentage point in each of its previous two reviews.
Kolkata's creme de la creme turned up at the launch of Bandhan, The Making of a Bank, but the evening nevertheless had an informal touch typical of the young bank with CMD Chandra Shekhar Ghosh personally welcoming the dignitaries, reports Indrani Roy/Rediff.com.
The RBI expects inflation in 2015 to hover around 6 per cent -- its target for January 2016 -- and sees risks to the target evenly balanced.
The rupee is likely to strengthen to 60-61 level by this fiscal-end on expectations of improvement in current account deficit (CAD) and higher inflows from overseas investors.
Bukkapuram Nadella Yugandhar's 'formidable legacy will survive through a generation of civil servants whom he trained, nurtured, mentored and inspired with a rare combination of energy, enthusiasm and passion,' says former RBI govenor Dr Duvvuri Subbarao.
He endorsed transparency and financial stability in addition to issues related to inclusive growth and development, write Puran Singh and Nupur Pavan Bang.
Reducing policy rates is not enough. The key is to ensure banks lend to credit-constrained borrowers.
It is important to understand that debt investors are a conservative lot and, in general, most such investments are hedged out of foreign exchange risk to simply earn an arbitrage profit, rather than carry the risk to possibly increase their yield.
We are all 'Chasing the Monsoon', notes Ajit Balakishnan.
I-T lens on current account deposits over Rs 12.5 lakh. All the news and more post demonetisation.
What Shekhar Gupta would have really liked to know from Pranabda: Why did Sonia prefer Dr Singh to him as PM? Why did he deny finance first, why did he accept it 5 years later, and why did he make such a mess of it? How did he force Sonia to nominate him for President and not Hamid Ansari? And how does he justify that most toxic legacy -- the Vodafone tax amendment?
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