The decisive election victory for the Narendra Modi-led National Democratic Alliance has created a conducive environment for policy actions and should help in economic recovery, Reserve Bank of India Governor Raghuram Rajan said on Tuesday.
The methodology will be announced later this week.
The Governor of the Reserve Bank of India may need all the suave charm of the fictional British spy to sell that same hard-nosed agenda to a powerful new prime minister.
Financial services firm AnandRathi analysed the key points of the policy soon after it was announced.
The RBI governor says, Mahatma Gandhi is the only dignitary which can be featured on rupee notes.
Jaitley said manufacturing sector will continue to face challenges unless it transitions itself while keeping the quality and price in mind.
RBI unsure whether to cut rates or not in its next monetary policy.
He warned low interest rates globally could distort markets and would be difficult to abandon
Reserve Bank Governor Raghuram Rajan on Monday warned against compromising India's interest for the sake of attracting foreign investment and said the priority should be framing transparent policies as well as resolving contractual tax disputes quickly.
Rajan said there will be some volatility, but once the initial bout or wave abates, people will look for good fundamentals
A 13-member group, headed by RBI Executive Director R Gandhi, has made various recommendations on G-Sec market, retail participation and interest rate derivatives market.
The solution to this problem lies only in making the system more efficient, he said.
Policy with regard to the foreign banks is part of his five pillars of reforms, says RBI Governor.
Former RBI Governor Subbarao blamed Chidambaram for undermining the autonomy of RBI and putting pressure on him to cut interest rates.
The NPA of the public sector banks rose to 6.03% as of June 2015.
The policy will be presented in the backdrop of rising inflation.
There is little scope for significant monetary easing even in the next fiscal year.
The convertibility is RBI Governor's 'next big ambitious goal'.
India imposes restrictions on how much money its citizens and companies can invest abroad
Raghuram Rajan will take over as RBI Governor on September 4 at a time when the country is facing a grave economic crisis.
The country has a long way to go before it claims to have arrived, he said.
'Access to finance is one of the most crucial needs in the economy.'
This is the second high profile resignation in the past six months at the Reserve Bank of India.
Rajan was speaking in Hyderabad at an interactive session at National Institute of Rural Development and Panchayati Raj.
For 2015-16, IMF pegged India's growth rate at 7.5 per cent.
Head of state-run Indian Bank T M Bhasin had called for a CRR cut.
Mallya, whose Kingfisher Airlines owes money to several banks, had on Thursday said he will challenge UBI's decision to declare him a willful defaulter.
Uber had run into trouble with the RBI over the two-payment process
RBI's exercise will take into account standards of governance, the viability of the payment bank (PB) business model, and changes, if any, if needed.
There is also a lobby within the bureaucracy that wants to see Rajan's influence curtailed
Dr Raghuram Rajan's departure holds lessons for all, be it sections of the media, politicians or the people themselves. We need to learn how to value and retain talent. At the same time the talented must realise that talent alone does not ensure the top job, says Sanjeev Nayyar.
Amid concerns over minorities being targeted in India, former Reserve Bank governor Raghuram Rajan on Thursday cautioned that an 'anti-minority' image for the country can lead to loss of market for Indian products and may also result in foreign governments perceiving the nation as an unreliable partner. India enters the perception battle from a position of strength, the professor at Chicago's Booth School of Business said, alluding to credentials like democracy and secularism, but warned that this battle is "ours to lose". The comments came a day after bulldozers tore down several concrete and temporary structures close to a mosque in Jahangirpuri as part of an anti-encroachment drive, days after the northwest Delhi neighbourhood was rocked by communal violence.
The aim of his visit was to explore how financial institutions can be co-opted in reviving the local economy.
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The country has enough forex reserves to meet the demand.
The RBI has agreed to consider the application of India Post in consultation with the government.
Rajan said RBI should pay as much dividend as possible to the government, which over the past two years has run into billions of dollars
Raghuram Rajan rejected the argument that inflation has come down largely because of "good luck" stemming from low oil prices.
Twenty-six entities, including the Tatas, Aditya Birla Group, Anil Ambani-led Reliance Capital and Religare, apart from India Post, applied. Videocon Group, later on withdrew its application.
The Reserve Bank of India hiked key interest rates by 0.25 per cent each in the last two reviews to tame inflation.
Indian capital markets joined the global sell-off sparked by China growth concerns
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