The rupee had surged 37 paise to end at a nine-month high of 59.68 against the dollar on Tuesday. Forex market remained closed on Wednesday for 'Buddha Purnima'.
For the first time, PSU banks will have a non-executive chairman, giving operational responsibility to managing director and chief executive officer.
The RBI cut the rate several times last year to reduce it by 125 basis points to the current 6.75 percent.
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.
RBI Governor Raghuram Rajan has said falling oil prices act as a cushion for CAD, adding it is time India does away with restrictions on gold imports
No need for extra stimulus, India to hit around 8 pct growth: adviser
The rupee closed at 59.90 in Wednesday's trade, gaining just one paisa from its previous close.
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.
'The reform agenda is progressing in the right direction'.
This time the all-powerful interest-rate setting panel, whose constitution was notified by the government on Thursday, will take call on interest rate. But that's not the only change. The Reserve Bank of India has also decided to change the timing of announcement of its policy review, due next Tuesday, to mid-afternoon.
In the mid-quarter monetary policy review last month, RBI Governor Raghuram Rajan had left the key policy rate unchanged, after raising it 50 bps in two instalments since he took over on September 4, saying he was waiting for more data clarity.
Though valuations have moderated, they are still above average.
On the employment front, services employment was unchanged in April.
India's economy grew an historically modest 7 per cent last quarter but industrial output has generally been strong.
The RBI expects inflation in 2015 to hover around 6 per cent -- its target for January 2016 -- and sees risks to the target evenly balanced.
Costlier onion and other vegetables pushed up inflation for the third month in a row to 6.1 per cent in August, making it difficult for the RBI to cut rate in the monetary policy review due later this week.
Reserve Bank will hold its first bi-monthly monetary policy review for 2016-17 on Tuesday.
ICICI Bank on Tuesday slashed home loan rate for both existing as well as new borrowers by 0.25 per cent.
Forex dealers said besides a lower opening in the domestic equity market on fears of a rate hike by the Reserve Bank, higher demand for the American currency from importers put pressure on the rupee but dollar's weakness against other currencies overseas, capped the fall.
'The finance ministry and public sector banks have tried to keep the names of wilful defaulters secret.' 'Secrecy and concealing information are inbred among banks and even the RBI,' observes Debashis Basu, editor, www.moneylife.in.
A reading above 50 represents expansion while one below means contraction.
The CFO will formulate the accounting policy of the bank, maintain the internal accounts and report financial results, and carry out corporate strategy functions like PF policies.
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RBI is scheduled to announce monetary policy on Tuesday.
Referring to the proposed new monetary policy framework, it said in the weeks ahead, government and RBI will work towards it.
The Department of Post, Tech Mahindra, Videocon Group and stock exchange NSE have joined big corporates like Ambanis and Birlas to seek entry into banking business through newly created niche category of Payments and Small Finance Banks.
he reason behind the cut in policy rate seems to be a slowing economy
Banks have issues with their balance sheet profiles, say PSB executives.
November 8 marks 6 years after demonetisation. A K Bhattacharya reveals how the prime minister and the RBI worked together for months before Modi's 8 pm speech. A riveting excerpt from The Rise Of Goliath: Twelve Disruptions That Changed India.
Policymakers have been grappling with high prices for food staples such as onions and potatoes even after the central bank raised interest rates by a quarter percentage point in each of its previous two reviews.
The rupee appreciated further on Thursday, adding 106 paise to 66.01 against the dollar, after steps taken by new Reserve Bank of India Governor Raghuram Rajan to attract US currency inflows boosted market sentiment.
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A rule change may make Nachiket Mor, among others, eligible to replace Chakrabarty.
Official GDP data for the second quarter of the current fiscal year ending March are due to for release this Friday.
'India's economic fundamentals are much too strong to be affected by his resignation,' says B S Raghavan.
India's banks rely on overnight borrowings to fund longer-term lending.
'Here, after all, was a fine specimen of intelligence in the field that Adam Smith gave formal structure. And successful RR surely was as RBI chief.'
'Should the government be in the business of running banks?' 'Particularly when it does not have the fiscal strength to continuously infuse capital into such banks?'
RBI Governor Raghuram Rajan is expected to express that cautiousness as he looks to manage expectations.
While Raghuram Rajan has said in the past that other factors, including domestic fundamentals, outweigh the US Fed policy meet, this time it would be different
Industrial ouput, however, was seen falling 0.6 per cent in January
If the RBI governor's logic holds, the rupee is far from being extremely overvalued.
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