Indian jewellers such as Gitanjali Gems, Malabar Gold and Kalyan Jewellers have opened stores abroad to limit the slump in sales.
RBI has brought down forecasts of both year-end inflation and growth.
India's trade deficit shrank to a 10-month low in December as global oil prices tumbled and demand for gold fell, auguring well for Indian current account balance and the rupee.
'The rate cut could have been higher in the current economic conditions which would have had a stronger impact on business sentiment and spurred investment in a big way.'
From a national point of view, inflation is the biggest threat posed by finance ministers.
Indian economy is set for a 'goldilocks' period -- used to describe a timeframe of high growth and low inflation -- while it can become Asia's fastest growing economy in 2016, Japanese financial major Nomura said.
Ruling out a cut in lending rates, bankers said the status quo policy stance of the Reserve Bank will be followed by them, at least in the near-term.
Rajan retained the short-term lending rate at 6.5 and the cash reserve requirement of banks at 4 per cent.
RBI takes steps to control inflation but the masses are not convinced.
The probe into selections for banks such as Bank of Baroda and Canara Bank followed the arrest of Syndicate Bank CMD S K Jain for alleged graft.
ICICI Bank on Tuesday slashed home loan rate for both existing as well as new borrowers by 0.25 per cent.
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Food and fuel inflation in India have remained high for several years, the paper said, adding to durably reduce the current high inflation, the monetary policy stance needs to remain tight for a considerable length of time.
New Reserve Bank of India chief makes his first monetary policy statement on Friday with expectations he may scale back some of the emergency measures that have helped the rupee bounce from a record low.
Higher prices of onion and other vegetables and fruits pushed up inflation to 6.46 per cent in September.
Of the three major Budget announcements related to the banking sector, privatisation of PSBs is the most audacious, says Tamal Bandyopadhyay.
The rupee had revisited the near 2-month low of 60.55 per dollar earlier in the session.
The RBI gauges both measures of inflation when deciding on monetary policy,
RBI projects GDP growth in FY16 at 7.8 per cent, 30 bps higher than FY15. However, this comes with a downward bias.
It has already cut the rate three times this year to loosen credit and boost slowing growth in Asia's third-largest economy.
The rupee had gained seven paise to close at 61.15 on Friday on suspected RBI intervention in the forex market.
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.
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As on Monday, the prices of many vegetables had fallen as much as 50% compared with those a month before, due to increased supply, following the arrival of winter crops in the markets.
While stating that a strong government should be led by those who have expertise, motivation and integrity and can provide the needed public good, Rajan warned that "strong governments, may not, however, move in the right direction".
Duvvuri Subbarao recounts how his tensions with P Chidambaram and Pranab Mukherjee, then finance ministers, over monetary policy spilled over into other issues in the central bank in this excerpt from Who Moved My Interest Rate?, his memoir of his term as Reserve Bank of India governor.
Lending rates in certain segments may be increased; fixed depositors may lock into existing rates.
Will RBI chief have the final say, in the form of a veto
Official GDP data for the second quarter of the current fiscal year ending March are due to for release this Friday.
the GDP estimates incorporate new source data and modified compilation techniques
The rupee's strength against its competitor could come to haunt exporters.
RBI will cut rates in its next policy announcement on June 2.
An action on the rate front is unlikely to figure in Rajan's plan for the moment.
The WEF meeting is crucial because of its theme encompassing globalisation at the time of rising nationalism and trade war, and the fourth industrial revolution due to rapid strides being made in robotics and artificial intelligence.
Banks in India must have a modern approach, suggests a panel comprising of banking bigwigs.
Nationalisation has served its purpose. It's time to move ahead, keeping majority ownership of the government in a few banks to serve the people, argues Tamal Bandyopadhyay.
Pawar asked Modi why he was daring Opposition leaders to bring back Article 370 of the Constitution after it was nullified by Parliament in August.
Tamal Bandyopadhyay discusses his latest book Bandhan: The Making of a Bank at Bandhan headquarters in Kolkata.
'When a soldier becomes a king, he better be a king. He should now just forget the past and move beyond continuity. He should catch the potential of India's moment and play a leader's role,' says Vallabh Bhansali of Enam Group.
The incidence of corruption cases can be checked to a large extent if the suggestions already available with RBI and the government are taken seriously, says Shyamal Majumdar.
Both the RBI and the central government should see that the transmission of the rate reduction by the banks happens soon, otherwise the whole exercise is futile, says Subramanian MV.
While a pick-up in summer monsoon rains in recent weeks is expected to cool food inflation, most analysts don't anticipate another rate cut before a new governor is on the job
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