The 42-year-old Acharya's appointment for a three-year tenure was cleared by the Appointments Committee of the Cabinet.
These cash shortages increase banks' funding costs, making it harder for them to lower lending rates
The RBI said that the impact of unseasonal rains is still unfolding.
RBI's previous monetary policy was announced on September 29.
After Raghuram Rajan leaves, the world for the succeeding RBI governors will be distinctly different.
Corporate houses believe RBI must cut rates to boost investment in the system.
Inheritance tax only helps the lawyers: Rajan
Thanks to Rajan we are an inflation-targeting country now
Today, with growth having slowed and macro-economic challenges in every direction, would the government have benefited from the advice of 'Harvard' economists? asks T N Ninan.
Reserve Bank Governor Raghuram Rajan on Tuesday said the government's target of reducing the current account deficit (CAD) to $70 billion or 3.7 per cent of the GDP in 2013-14 is "imminently reachable".
The government has extended the term of Reserve Bank of India Governor Shaktikanta Das by another three years upto December 2024, according to an official order.
The Governor said RBI does not limit itself too much when there is uncertainty.
Raghuram Rajan explains the rationale for his policy stance and other issues.
New Delhi was reluctant to spook investors by clipping the bank's wings
The financial crisis has challenged the intellectual assumptions on which previous regulatory approaches were largely built, and in particular the theory of rational and self-correcting markets.
Top bankers on Wednesday exuded confidence that Raghuram Govind Rajan, who today took over as the 23rd Governor of the Reserve Bank, has the intellectual prowess to wade through the present difficulties facing the economy and wished him all success for the stint at Mint Road.
Fiscal outlook to be little bit challenging next year: CEA
On growth, the Governor said the prospects in the last few months have improved.
RBI promises to take all necessary steps, including liquidity support
India was less directly affected by the Chinese stock market rout and yuan devaluation that battered currencies and markets in the region.
The inflation target of the RBI would be reviewed once every five years.
Rajan's remarks come as the Modi-led government completes one year.
Free speech is the soul of a great university. By compromising on it, the founders have bartered away its soul, said Rajan.
'For every person there is a different way that you show respect for your country...my mother-in-law will say karmayogi is the way to go - do your work.'
In its first bi-monthly policy, the RBI, in order to enhance hedging facilities for foreign investors in debt instruments, proposed to allow them to hedge the coupon receipts falling due during the next 12 months.
RBI Governor Raghuram Rajan on Friday said keeping inflation low is the key task for sustainable economic growth of the country.
Arun Jaitley had promised to provide more than the budgeted amount.
Indian economy has good fundamentals and sizeable foreign reserves, RBI Governor Raghuram rajan said.
Policy with regard to the foreign banks is part of his five pillars of reforms, says RBI Governor.
'After a long time, we have a governor who is approachable. The RBI's interactions with us are now much better.'
Perhaps because the Modi government had some differences of opinion with two of the economist governors (one of whom was appointed by the Manmohan Singh government), there is a view that its political leadership prefers a civil servant to head the RBI, notes A K Bhattacharya.
RBI is expected to discuss about the impact of GST in its monetary policy.
Considering the economic downturn, the banking sector should help strengthen the cooperative sector to encourage small and medium industries and create jobs, Chavan said.
Rajan had overturned the majority opinion of the members and chose to hold the rates at the last monetary policy review in October.
It's time the regulator did some introspection.
The RBI is not statutorily independent from the government but has long enjoyed wide latitude
"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.
India's foreign exchange reserves are at an all-time high.
RBI could opt for a 'deep cut' after winning inflation war, say experts.
India's inclusion in JP Morgan's bond index can channel billions of dollars into India. How will the government securities market handle it?
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