Analysts say the RBI could resume tightening monetary policy by early next year should inflation remain high, even as the economy is growing below the decade low of 5 percent posted in the fiscal year ending in March.
India's macroeconomic indicators are improving and inflation has been coming down consistent with the central bank's forecast, but Asia's third-largest economy needs investment growth to pick up, he added.
The government-appointed Financial Sector Legislative Reforms Commission (FSLRC) has recommended a slew of reforms to overhaul the sector.
Even before Prime Minister Narendra Modi swept to power in 2014, Subramanian Swamy was agitating for Rajan's removal.
The RBI targets inflation at 6 percent by January 2016 and 4 percent for 2017/18.
He endorsed transparency and financial stability in addition to issues related to inclusive growth and development, write Puran Singh and Nupur Pavan Bang.
On Aug 11, the Chinese central bank surprised markets by devaluing the yuan by nearly 2 per cent.
Rajan was speaking at a news conference.
Raghuram Rajan says he's not beholden to the Finance Ministry nor does he go around with the fear of being fired.
The RBI is expected to issue only a few bank licences after completing due diligence.
Rajan's comment comes against the backdrop of certain BJP leaders questioning his policies to deal with the current economic woes.
Inflation is a big concern for India, says RBI chief Raghuram Rajan.
'There will be no serious effect on Indian economy because one person, one man, however powerful, however influential, however great, cannot have an impact on an economy as big and complex as India.'
Rajan, who has also served as chief economist at the International Monetary Fund (IMF), said he had no idea what statistics are pointing at currently and "a revamp" was needed "to really figure out what India's true growth rate is".
Rahul Gandhi hailed the RBI Governor for steering the Indian economy in "difficult times"
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The central bank will come out with two measures on restructuring to tackle financial stress, Rajan said.
Reserve Bank is scheduled to announce its bi-monthly monetary policy on August 3.
People who advocate a rate hike because inflation is very high, even without the food component, have in mind some developed-economy structure, Raghuram Rajan tells Business Standard in an exclusive interview.
Rajan was expected to join the search committee to appoint three external members of a new six-member RBI Monetary Policy Committee
The new hire, Gangadhar Darbha, joined as a consultant
Rajan said that while there were talks about Jan Dhan, it was difficult to target transfers to people through this tool. Jan Dhan, he said, does not really work as advertised.
'We are by no means anywhere nearing having external financing difficulties or internal financing difficulties. The government's credit is solid, there is absolutely no difficulty for the government in borrowing and it is borrowing effectively from the public today in a fairly free public debt market,' the RBI governor tells a meeting in Washington, DC
Undaunted by what non-ideal mortals call pragmatic reality, he rolled up his sleeves on his first day in office and rolled out a series of measures that turned sentiment, as if on a dime.
RBI Governor cautioned against more volatility.
Former Reserve Bank of India (RBI) Governor Raghuram Rajan says the government should take advantage of the peaks in the Indian equity markets right now and sell stakes in PSUs while prioritising spending to get the economy back on track. The upcoming Budget for the fiscal year beginning April 1 should look to provide "relief to the poorer households and small and medium enterprises," he said. And then move on to getting the economy back on track.
Raghuram Rajan's signal of a neutral stance is at odds with concerns about inflation and markets' revised expectation of more increases in the repo rate
Says impact of crisis in China won't be as big here as in some other countries
'Government of India has the right to give directions to RBI'.
Fraudulent emails exhorting people to deposit cash for reward are on the rise.
The report also described the RBI as an "extremely visionary, pragmatic and fairly independent" organisation throughout its history
RBI governor Raghuram Rajan has slashed rated by 50 bps.
Traditionally, Prime Minister picks the RBI Governor after consultation with the finance minister.
Business houses expect rate cut in next RBI policy.
Raghuram Rajan, whose current three-year tenure ends on September 4, has already said no to a second term.
Reserve Bank Governor Raghuram Rajan on Friday said banking sector will see major changes in the coming years.
The Reserve Bank of India Governor Raghuram Rajan said bringing down inflation would help stabilise the rupee.
Retail inflation was at a 25-month low of 8.1 per cent in February.
The rank of COO is the latest in a series of decisions that met with internal resistance at Mint Road and now North Block.
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The Reserve Bank released a report on 'Banking Structure in India -- The Way Forward' in August 2013, which covered issues such as consolidation of large-sized banks with a view to have a few global-sized banks and the desirability and practicality of having small, localised banks as preferred vehicles for financial inclusion.
RBI to ensure loans rate fall
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