Perhaps because the Modi government had some differences of opinion with two of the economist governors (one of whom was appointed by the Manmohan Singh government), there is a view that its political leadership prefers a civil servant to head the RBI, notes A K Bhattacharya.
RBI is expected to discuss about the impact of GST in its monetary policy.
RBI Governor Raghuram Rajan on Friday said keeping inflation low is the key task for sustainable economic growth of the country.
The Reserve Bank of India kept interest rates on hold at 7.50 per cent.
CPI inflation has declined by almost a percentage point from July, from close to eight per cent to just above seven per cent.
Inheritance tax only helps the lawyers: Rajan
Tomorrow's review could also turn out be the last policy anchored by Rajan if the proposed Monetary Policy Committee (MPC) is put in place before the next review due on August 9.
We require a very pivotal kind of leadership now from the central bank in order to work with the government
"I think, this is something that all Indians should be concerned about because strength of our institutions is really important for our growth, sustainable growth and equity in the economy," said Rajan.
With the economy growing at its slowest rate in a decade, India's banking system is facing rising levels of stressed loans, with $100 billion, or about 10 percent of the total, categorised as bad or restructured.
The candidate will be expected to have at least two to three years of remaining service.
The industry also emphasised on supply-side interventions by the government to tackle persistently high food inflation.
Patel, 55, who took over as the 24th Governor of the central bank on September 5, 2016, had the shortest tenure since 1992.
Indian economy has good fundamentals and sizeable foreign reserves, RBI Governor Raghuram rajan said.
Arun Jaitley had proposed to set up a Public Debt and Management Agency.
Rajan's total 'monthly emoluments' stands at Rs 198,700
The RBI is working to nudge large foreign banks with 30 or more branches in India to get incorporated locally.
A reading above 50 means the sector is expanding, while a reading below 50 means contraction.
PM has asked the Reserve Bank to prepare a 20-year road map for financial inclusion
The RBI in November released a framework for large foreign banks with more than 20 branches to convert into wholly owned subsidiaries.
ICICI Bank has the largest proportion of SDR loans as a percentage of its total, followed by state-run United Bank of India and Canara Bank.
India's industrial output unexpectedly contracted 4.2 percent year-on-year in October, dragged down by a fall in the manufacturing and the capital goods sector, government data showed on Friday.
The Financial Stability and Development Council members include heads of regulatory bodies like RBI, Sebi and Insurance Regulatory Development Authority.
Experts interviewed CMDs of nine public sector banks on Friday and Kamath is believed to be in the reckoning
According to Subbarao, the pressure on the currency was inevitable.
With the setting of MPC, the interest rate setting powers would move from RBI Governor to the panel.
Erstwhile RBI governors, including Raghuram Rajan never had cordial relations with the government.
The government has retained Arvind Subramanian as its chief economic advisor, unlike other American professors Dr Raghuram Rajan and Arvind Panagariya, who quit their jobs as RBI governor and NITI deputy chairman respectively.
The discussion paper is released at a time when the central bank is sifting through 26 applications seeking an entry into the fray.
The bank chiefs have also cancelled the customary media conference after the bi-annual policies.
The partially convertible rupee ended at 62.2825/2925 per dollar.
Shaktikanta Das will demit the office on Tuesday after completing six years as the 25th Governor of the Reserve Bank of India. Revenue Secretary Sanjay Malhotra will replace him as the 26th Governor. He was appointed as the Governor on December 12, 2018, after the abrupt exit of Urjit Patel.
Governor Raghuram Rajan lowered the benchmark repurchase rate to 7.75 per cent from 8 per cent, the first reduction since May 2013.
With September 11's rise, has appreciated 5.5% in just a week
The High Commissioner upon seeing Mallya walk in actually at the mid of the event, got up and left
A section of the media on Thursday reported, quoting an unnamed EC official, that it may not allow RBI to go ahead with the plan before the polls and that they need more clarity from the Mint Road on certain aspects.
The macro economic situation and currency depreciation might top the priority list of Reserve Bank of India (RBI) governor-designate Raghuram Rajan.
There is a sharp difference between the total remuneration paid at the public sector and private sector entities
'With his envious academic record, extraordinary research calibre and unparalleled work experience, we can trust him to become the first Indian -- fully Indian, not one of those Americans of Indian origin -- to win the Nobel Prize in Economics,' says Sudhir Bisht.
In the latter half of the year, there would be some economic recovery and return to normal business conditions.
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