The Reserve Bank on Friday set up a three-member committee under former Governor Bimal Jalan to scrutinise applications for new bank licences, which are expected to be awarded by January.
RBI governor Raghuram Rajan is clear about cleaning up the mess in the banking system.
The RBI guv said global economy is actually recovering, though slowly
Giving details of Rajan's 'course schedule' for 2016-17, Chicago Booth School said this course will explore the challenges of corporate finance and investment in a more integrated global economy.
RBI sees marginal improvement in economic growth to 5-6%.
The Supreme Court decision to cancel the allocation of 214 coal blocks will have bearing on thermal power plants, in which the banks have put in more than Rs 1 lakh crore (Rs 1 trillion) as loans.
The proposed four per cent inflation target is onerous, considering India is currently battling near-double-digit increases in prices.
Dhoot stated that Value Industries has not withdrawn the application and has only sought clarifications from RBI on certain issues.
According to Subbarao, the pressure on the currency was inevitable.
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RBI is scheduled to unveil its credit policy on June 3.
SBI is the first major bank to cut its base lending rate this year.
Bharatiya Janata Party's prime ministerial candidate Narendra Modi is the most talked about person on Facebook in India beating likes of cricketing legend Sachin Tendulkar and Apple iconic device iPhone 5s, the US-based social networking site said on Monday.
If 2012 was a year that saw Indian bourses scripting a dramatic turnaround after the meltdown, 2013 was marked by consolidation in the first half and a new found optimism by market participants in the second half.
The academic prize is sponsored by the Deutsche Bank Donation Fund and carries an endowment of euro 50,000.
The country has a long way to go before it claims to have arrived, he said.
Observing that it is not yet clear to him what the government means by 'Atmanirbhar Bharat', Rajan said if it is about creating an environment for production, then it is a re-branding of the Make in India initiative.
The rupee was at 62.08/12 versus Thursday's close of 61.77/78.
In his first monetary policy review since taking office on September 4, RBI Governor Raghuram Rajan increased the repo rate by 25 basis points to 7.50 per cent.
Speaking at the Delhi Economic Conclave in New Delhi, Reserve Bank of India Governor Raghuram Rajan said the central bank will come out with a discussion paper next week with regard to distressed borrowers and rising non-performing assets.
The ratings agency currently rates India at Baa3
The RBI wants CPI inflation to ease further to 6 per cent by January 2016.
He will presumably choose to remain true to the framework he has put in place.
Raghuram Rajan will take over as RBI Governor on September 4 at a time when the country is facing a grave economic crisis.
The step followed Reserve Bank Governor Raghuram Rajan's hard talk.
The Sensex fell nearly 2 per cent on Friday after a surprise rate hike by the RBI led to a slide in rate-sensitives like banking and auto shares.
India is more insulated to Fed-related volatility than other emerging markets due to its better economic fundamentals
His tweets led to his followers proclaiming that he was backing Patel's appointment
Shares are likely to remain volatile in the week ahead as uncertainty heightens over Syria.
Shares are likely to remain volatile in the week ahead as uncertainty heightens over Syria.
The three years at the Reserve Bank have mostly been a string of success stories for Rajan, gaining him common man's adulation even as the free-thinker in him made a few foes who matter more in the corridors of power
Head of state-run Indian Bank T M Bhasin had called for a CRR cut.
We require a very pivotal kind of leadership now from the central bank in order to work with the government
Rajan was speaking in Hyderabad at an interactive session at National Institute of Rural Development and Panchayati Raj.
'The concern that the bad bank may create a moral hazard for the system is extremely valid.'
The convertibility is RBI Governor's 'next big ambitious goal'.
The RBI Governor brought down retail inflation to 3.8% in July.
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The RBI has bought Rs 124.62 billion worth of bonds since its announcement on Aug. 20 that it would occasionally buy bonds to relieve some of the cash tightness in the banking system.
Market participants are impressed that Rajan has set the ball rolling on his first day at RBI with a series of announcements, raising expectations that more are in store.
The Indian currency was tracking the non-deliverable forwards while lower stock futures also hurt sentiment.
Raghuram Rajan, a former chief economist at the International Monetary Fund, takes charge at the RBI as the country faces its worst economic crunch since a balance of payments crisis two decades ago.
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