Reserve Bank of India (RBI) Governor Raghuram Rajan's decision to cut rates last week surprised even top officials.
After months of denying there was a liquidity problem, Governor Raghuram Rajan has reversed course.
Here is some background on the candidates seen as potential successors to Rajan at the RBI
Stock selection in India remain relatively low-beta given the lack of any conviction here on any near-term upturn in the investment cycle
To cut interest rates, the central bank head has to open up a debate on inflation target revision.
The payments banks are intended to house transactional accounts for individuals, focusing on payments and remittances.
Move to shift powers from RBI without discussions baffles many
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Traders say the outlook for the rupee has improved on the back of a sharp narrowing in the current account deficit after government and central bank emergency measures such as curbing gold imports.
EC received the RBI proposal in the first week of this month, soon after the model code of conduct came into force on March 5.
With March 2016 being the final quarter when banks will have to disclose their stressed assets, the markets are assuming the worst is yet to come
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Steps announced by new RBI Governor Raghuram Rajan could attract $10 billion of forex inflows in the next three months and this could be a material near-term positive for the rupee, which has lost 20 per cent since January, the London-based banking and financial services company said.
Bankers expect RBI to help them spur lending growth.
The recent weakness of the rupee has been due to yuan's devaluation.
Central Statistics Office has come out with GVA to measure growth.
Budget 2015 has blessed the banking sector.
The Reserve Bank of India has already reduced the policy rate by a total of 75 basis points, or 0.75 per cent, since January.
Industrial ouput, however, was seen falling 0.6 per cent in January
The Reserve Bank of India (RBI) is likely to take a "more dovish" stance in its upcoming monetary policy review on December 2 and may go in for a cut repo rate in February, according to a British brokerage house report.
The single most important issue in Public Sector Banks is corruption.
After his decision to return back to academia, there have been voices suggesting that his candid public speeches were one of the aspects which made the government uncomfortable about reappointing Rajan for another term
Subramanian Swamy said if income tax is abolished, middle class will deposit money in banks which can be invested in manufacturing.
Even if Modi had wanted Rajan out, the government could have done it with some finesse and tact.
This was at a meeting of the Financial Stability and Development Council, chaired by him. Chidambaram, set to resign on Friday to make way for his successor, called upon the regulators and the ministry to be ready and take necessary action.
Rajan tells RBI colleagues he will be returning to academics
Sectoral performance was mixed with media and PSU banking stocks attracting buyer interest and healthcare, FMCG and metal stocks bearing the brunt of the bears
Officials said Sebi is closely in touch with RBI on the market developments.
The 30-share Sensex ended up 12 points at 28,517 while the 50-share Nifty ended nearly unchanged at 8,660.
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At the retreat, PSBs had suggested the government cut its stake in these entities to less than 51 per cent over a period of time and empower the boards of individual banks.
More than 127 million new bank accounts have been opened.
Jaitley said if interest rates were lowered, the economy could grow faster than 7-7.5 per cent.
The mergers will not involve any cash but only share swaps
RBI would get the comfort of meeting its 8 per cent January Consumer Price Index-based inflation target, BofA-ML said, adding that 'we expect the RBI to cut 75 bp in 2015 from February with inflation on course to 6 per cent in January 2016'.
Credible fiscal consolidation has been a consistent pre-condition to easing the monetary policy stance as far as the RBI is concerned.
Bad loans of PSU banks rose by 28.5 per cent.
"My remarks are motivated by the desire for a more stable international system, a system that works equally for rich and poor, large and small, and not the specifics of our situation," Raghuram G Rajan, Governor, Reserve Bank of India said at the Brookings Institution on April 10, 2014.
Dy Governor notes it's an era of job changes for better.
Free speech is the soul of a great university. By compromising on it, the founders have bartered away its soul, said Rajan.
RBI's foreign exchange reserves fell $237.5 million.
Not only were Urjit and Rajan outsiders, they also hired laterally, bypassing the existing talent, especially in the field of economics
'Trust your new governor,' Omkar Goswami advises RBI Deputy Governor Viral Acharya. 'Just because he is from the IAS and doesn't carry a PhD from a US university does not make him unsuitable for the task.' 'If anything, Das will pour oil on troubled waters, and save the RBI's reputation.'
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