RBI projects GDP growth in FY16 at 7.8 per cent, 30 bps higher than FY15. However, this comes with a downward bias.
Erstwhile RBI governors, including Raghuram Rajan never had cordial relations with the government.
Kaushik Basu, whose stint at the World Bank ends on July 31, was being looked at as a serious contender, the sources said
Mundra fills the vacancy created by the retirement of KC Chakrabarty in April, two months before his five-year tenure was come to an end.
The July-September quarter GDP numbers are due on November 30.
HSBC PMI falls to 50.7, slow domestic demand offsets pick up from abroad.
It is difficult to say if the banking sector will see the worst behind it by March 2020, warns Tamal Bandyopadhyay.
RBI has also announced new guidelines to price loans from April 1.
Although this may not be music to Raghuram Rajan and Viral Acharya's ears, the real reason in my estimation for their quitting is expatriate over-sensitivity, intolerance or arrogance, argues B S Raghavan, the distinguished civil servant.
M V Subramanian says there is an imperative need for collective responsibility to tackle inflation, prices and availability of essential commodities, and not rely on inflation targeting alone.
Lending rates in certain segments may be increased; fixed depositors may lock into existing rates.
The HSBC India Manufacturing Purchasing Managers' Index, a measure of factory production, stood at 51.3 in April, unchanged from 51.3 in March, amid moderate expansion of incoming new business orders.
The revision will do little to help the Congress party-led ruling alliance, which faces an uphill battle in elections due by May amid allegations of economic mismanagement, corruption scams and high inflation.
RBI will cut rates in its next policy announcement on June 2.
This is the first time in the RBI's history that a governor is leaving without willing to renew his contract
Consumer prices were forecast to have risen 10.00 per cent annually last month, barely changed from the 10.09 per cent clocked in October.
This was at a meeting of the Financial Stability and Development Council, chaired by him. Chidambaram, set to resign on Friday to make way for his successor, called upon the regulators and the ministry to be ready and take necessary action.
The rupee appreciated by 0.27 per cent in June against the dollar.
Suggesting steps to boost the Indian economy, the IMF chief further said the government should focus on fiscal consolidation.
It is the six per cent target RBI is more concerned about.
Global liquidity expected to continue amid ECB stimulus
SBI is the first major state-run bank to hike lending rates after short-term rates rose as a result of the Reserve Bank of India's liquidity tightening moves announced in July.
the GDP estimates incorporate new source data and modified compilation techniques
Most immediately, he pledged to move slowly if needed in winding down an oil window that provides dollars directly to state-run oil companies
The banking sector is set to move at a fast pace from hereon.
Higher prices of onion and other vegetables and fruits pushed up inflation to 6.46 per cent in September.
The rupee had revisited the near 2-month low of 60.55 per dollar earlier in the session.
CRR to remain unchanged at 4.00 pc this fiscal
The poll of over 30 economists, taken in the past week, showed Asia's third largest economy will expand 7.8 percent in the fiscal year ending March 2017.
The RBI governor believes corruption ca be fought by streamlining the system.
Following the meeting, Subbarao said the central bank will look into the latest inflation numbers before coming out with the monetary policy review.
The central bank has, so far, cut its repo rate by 125 bps.
Service providers' confidence with regard to the 12-month outlook for business activity remained positive.
Going on the counteroffensive, the Congress will be giving privilege motions against Bharatiya Janata Party leader Subramanian Swamy and Defence Minister Manohar Parrikar in Rajya Sabha on Friday
RBI policy surely cannot impact agflation, in any case.
RBI wants periodic revision of the pensions for its retired employees.
Bankers back the new bankruptcy code, which would impose debt deadlines on failed firms and foresees up to five years in jail for debtors who conceal property or defraud creditors
Reserve Bank of India Deputy Governor Viral Acharya is the eighth economist to quit since the Modi government took office.
Haven't they heard about the 'Tale of Two Brothers'? asks Suveen Sinha.
Nifty ends above 8,400; TCS, HDFC surge 2%, Bajaj Auto dips 2%.
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