A RBI constituted panel on financial inclusion headed by Nachiket Mor had recommended the setting up of the payments banks in order to deepen access to finance.
BSE Realty, Capital Goods and Consumer Durables indices were down by 3% each.
Swamy had also claimed that Rajan was "mentally not fully Indian" and alleged that he has "wilfully" wrecked the economy
Raghuram Rajan, who was Chief Economic Advisor in the Finance Ministry before taking over as RBI Governor on September 4, is scheduled to announce the next mid-quarter policy review on December 18.
Bharatiya Janata Party's prime ministerial candidate Narendra Modi is the most talked about person on Facebook in India beating likes of cricketing legend Sachin Tendulkar and Apple iconic device iPhone 5s, the US-based social networking site said on Monday.
'Helicopter drop' was first proposed as an alternative to quantitative easing.
India's captains of industry said they were disappointed at the exit of Reserve Bank of India Governor Raghuram Rajan.
'Rajan brought in a healthy air of competition in the banking sector.'
The RBI kept its key policy repo rate unchanged at 8.0 percent in its recent monetary policy.
Reserve Bank Governor Raghuram Rajan expressed confidence in India's growth and said the country is on target to meet Jan inflation target of below 6%.
The rupee was at 62.08/12 versus Thursday's close of 61.77/78.
For India, Fitch Ratings has 'BBB-' rating.
'Democracy is India's greatest strength.'
Meanwhile, Wholesale Prices Inflation (WPI) numbers which were announced on Thursday, accelerated to an eight-month high of 7.0% 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.
Shares are likely to remain volatile in the week ahead as uncertainty heightens over Syria.
Shares are likely to remain volatile in the week ahead as uncertainty heightens over Syria.
A few market and economic indicators have begun looking up, thanks to what many term the 'Rajan effect'.
The Sensex fell nearly 2 per cent on Friday after a surprise rate hike by the RBI led to a slide in rate-sensitives like banking and auto shares.
The Congress party has tweeted a 1.44-minute clip from the conversation which will be aired in full at 9 am Tuesday.
The central bank kept cash reserve ratio unchanged at 4 per cent.
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.
Reserve Bank Governor Raghuram Rajan today criticised multilateral institutions like the IMF and the World Bank saying "they are not immune to cognitive capture".
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
The government has changed the criteria for infusion of capital.
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.
RBI governor and new FM could hog all the limelight.
"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.
Rajan sees banks passing on the benefit of lower rates regime to customers.
Media has gone beyond its traditional boundaries.
This was the near-unanimous replies of 10 market participants.
IMF chief said the G20 leaders need to respond to the calls for creating jobs.
Rajan said the central bank has used up all its "space available" to cut interest rates
Rajan said that despite easy liquidity, banks have passed rate cuts into lending rates modestly.
The ratings agency currently rates India at Baa3
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.
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".
"We did not abuse RBI governors," says Chidambaram.
Raghuram Rajan on February 2 left the key interest rate unchanged.
Even as money floods into India, the Reserve Bank is bracing for the worst, building up currency reserves and drafting a game plan to protect the rupee against the sort of rout that alarmed policymakers and investors last year.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances