To provide exporters/importers greater flexibility in risk management, RBI enhanced the limit available to exporters to 50 per cent
Meanwhile, Wholesale Prices Inflation (WPI) numbers which were announced on Thursday, accelerated to an eight-month high of 7.0% in October.
Swamy had also claimed that Rajan was "mentally not fully Indian" and alleged that he has "wilfully" wrecked the economy
The BJP MP said the guidelines for grant of licences were 'brazenly flouted'.
Urjit Patel's reappointment will raise market hopes that Rajan, will also be offered an extension when his tenure ends in September.
According to him, since India has a low fiscal deficit, a low current account deficit and lower inflation, there is no need for being too dependent on foreign money for growth.
The central bank gave 11 entities licences to start payments banks.
'Raghuram Rajan is a wonderful economist, but he is not a wonderful Indian economist.' 'He doesn't understand India in the granular form.' 'India exists only from Delhi to Nariman Point for him.' 'India is much, much bigger and complex.' 'The new RBI governor shouldn't get ready to open his umbrella when it rains in America'
Reserve Bank Governor Shaktikanta Das on Tuesday said the fiscal-monetary coordination was at its best during the last six years even as he thanked Prime Minister Narendra Modi for giving the opportunity to head the monetary authority of the country. Das, in a series of posts on X, on his last day of his six-year term as RBI Governor, also thanked the Finance Minister, various stakeholders and his colleagues at the central bank.
'There are lots of low hanging fruits and often no real impediment to plucking them.'
Rajan encouraged the Indian-American business community to get involved in the 'nitty gritty of the implementation process,' saying such involvement was not difficult especially since the Indian government has the political will to reform.
Experts applaud RBI governor RAghuram Rajan for his good work.
Rajan is an acknowledged academic, author and intellectual. He spoke on issues which are in the public domain, said Chidambaram
Rajan said that despite easy liquidity, banks have passed rate cuts into lending rates modestly.
RBI Governor Raghuram Rajan expressed anguish at the banks' reluctance to pass on benefits of the earlier rate cuts.
NITI Aayog's Rajiv Kumar accused former prime minister Manmohan Singh and senior Congress leader P Chidambaram of creating a 'false narrative'
'It is sad for the country and it is sad for the government of the country too,' says the Nobel Laureate.
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.
'I think the markets will move up given that there will be more money.'
The central bank dashed hopes of any steep interest rate reduction.
Rajan warned against waiting to act until inflation expectations become entrenched, but also said the Reserve Bank of India would overlook temporary spikes in inflation.
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.
Rajan also said weak results from India's corporate suggested final demand is yet to pick up strongly.
India is gearing up to introduce a six-member monetary policy committee that would vote on interest rates.
Asserting that retail inflation excluding food and fuel is still at an elevated level, the Reserve Bank of India on Tuesday said it would endeavour to curb price increases.
The RBI working group's proposal to allow corporate houses to set up banks is a "bombshell" and at this juncture, it is more important to stick to the tried and tested limits on involvement of business houses in the banking sector, according to an article jointly written by former RBI Governor Raghuram Rajan and ex-Deputy Governor Viral Acharya. They also said that the proposal is "best left on the shelf".
India needed more specialists within government
Raghuram Rajan is said to have informally written to select policymakers and experts, to curb 'unnecessary' speculation over his future at RBI.
Reserve Bank of India Governor Raghuram Rajan had said recently that there was "no need" to set up a separate bad bank to deal with stressed assets of public sector lenders.
Even as money floods into India, the Reserve Bank is bracing for the worst, building up currency reserves and drafting a game plan to protect the rupee against the sort of rout that alarmed policymakers and investors last year.
RBI wants the lending rates to be determined by the market.
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.
Former Finance Minister P Chidambaram said he was "disappointed and profoundly saddened" by Rajan's decision against a second term, but was not surprised by the development
India's captains of industry said they were disappointed at the exit of Reserve Bank of India Governor Raghuram Rajan.
After the e-mail was received, the RBI officials alerted the police.
Raghuram Rajan on February 2 left the key interest rate unchanged.
He was responding to a question on economic reforms in the country.
The immediate challenge to faster growth is to restore stability to the currency markets.
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The NPAs of banks stood at over Rs 3 lakh crore as on December 2014.
Bharatiya Janata Party leader Subramanian Swamy on Sunday once again attacked Raghuram Rajan on the monetary policy, over a month after Prime Minister Narendra Modi had disapproved of his criticism of the Reserve Bank of India chief.
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