An unexpected devaluation of yuan saw it plunge the most in 20 years.
The RBI Governor also reiterated his reservation against repeated loan waivers by various state governments, saying the move distorts credit pricing, thereby also disrupting the credit market.
The RBI governor says, Mahatma Gandhi is the only dignitary which can be featured on rupee notes.
New Reserve Bank of India chief makes his first monetary policy statement on Friday with expectations he may scale back some of the emergency measures that have helped the rupee bounce from a record low.
Finance Minister Arun Jaitley said the Reserve Bank and the Finance Ministry have "very mature level of consultation" and it wasn't fair to comment on them.
Bajaj hit out at banks for not passing the entire benefits to consumers.
If the RBI governor's logic holds, the rupee is far from being extremely overvalued.
From a maths perspective, Royal Challengers Bengaluru and Gujarat Titans can still reach the IPL playoffs, but they need to ward off inner gremlins on Saturday to notch a mandatory win to keep that dream flickering.
Reserve Bank of India Governor Raghuram Rajan said, in an election year, it is better to be ready for any eventuality.
Two Chhota Rajan gangsters, held for their alleged involvement in the Jawaharlal Nehru Port Trust arms smuggling case, were on Tuesday remanded to police custody till July 26 by a local court.
'We are by no means anywhere nearing having external financing difficulties or internal financing difficulties. The government's credit is solid, there is absolutely no difficulty for the government in borrowing and it is borrowing effectively from the public today in a fairly free public debt market,' the RBI governor tells a meeting in Washington, DC
The state police has also requested the government to deploy paramilitary forces around the jail premises for the underworld don's security.
The core inflation is down and there is a need to push growth.
This will be the first major electoral test after the political realignment that emerged in 2019.
Design of these notes to be issued now is similar in all respects to the Rs 1000 Banknotes in Mahatma Gandhi Series-2005 issued earlier, RBI said.
Given that the public is no longer willing to tolerate lack of transparency, politicians will see they have no alternative but to change, feels Raghuram Rajan, economic advisor to the prime minister. Interestingly, Professor Rajan made this hard-hitting speech at an event to release a book in Prime Minister Manmohan Singh's honour.
RBI had previously cut repo rate by 0.25% each in January and March.
The police booked him under the stringent Maharashtra Control of Crime Act for allegedly demanding money from a builder.
RBI Governor Raghuram Rajan on Tuesday said the government will decide on extension of his tenure.
Ranbir and Shraddha's playful chemistry is to watch out for in Luv Rajan's rom-com, predicts Namrata Thakker.
RBI Governor has dismissed the notion that the rural employment guarantee programme is behind the massive spurt in wages in rural areas.
He will presumably choose to remain true to the framework he has put in place.
Delhi Chief Minister Arvind Kejriwal, who was sent to Tihar Jail after a court remanded him in judicial custody till April 15 in the excise policy case, will remain under 24x7 watch with CCTV cameras in his cell and could watch TV and read books, officials said.
The mid-year analysis lowered the growth projection for the current financial year to 5.7-5.9 per cent from 7.6 per cent estimated earlier.
Nikalje in his application stated that he had gone to Chembur on November 30 to help pacify the mob and not to incite them as claimed by the police in the FIR against him.
Rajan's comment comes against the backdrop of certain BJP leaders questioning his policies to deal with the current economic woes.
'I think the markets will move up given that there will be more money.'
The RBI Governor had earlier cautioned the banks on the risks involved in just hunting for numbers, asking them not to compromise on core objectives of the programme.
Royal Challengers Bengaluru's IPL campaign that began with optimism has melted into chaos. Their bowlers require a drastic transformation in mindset against Sunrisers Hyderabad for them to register an elusive win in Bengaluru on Monday.
As heavy rains continued to batter Kerala, landslides and flooding were reported from many parts of the state, especially its southernmost district of Thiruvananthapuram, which was severely affected by waterlogging in several areas on Sunday.
Reserve Bank of India (RBI) Governor Raghuram Rajan on Tuesday cautioned against extrapolating the issue of alleged graft charges in a public-sector bank to the entire public sector banking system.
Individuals will have to wait for some more time; RBI may do away with mid-quarter policy reviews.
A panel headed by Reserve Bank of India deputy governor Urjit Patel recommended in January moving to an inflation target.
Pushed into a tight corner, Royal Challengers Bengaluru rose above their frailties to notch four wins on the trot and stay alive in the race to play-offs. However, a volatile Delhi Capitals offer them a different challenge in their penultimate IPL league match in Bengaluru on Sunday.
RBI Governor Raghuram Rajan on Friday defended his development index for measuring backwardness of states, saying the aim is to "encourage development" and "everything over and above that is a political spin."
Only time will tell whether an individual like Rajan would be able to influence the manner in which the Fund looks at the rest of the world, especially developing countries.\n\n
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The Congress led UDF government in Kerala has asked Prime Minister Manmohan Singh to reject the Raghuram Rajan panel report evolving new formula for devolution of funds to states.
Guruvayoorambala Nadayil is a no-holds-barred, silly comedy that will keep you glued to the screen even when the going gets tough towards the end but the smile on your face will not leave, observes Arjun Menon.
The comments assume importance as the traditional position of the central bank has been not to set a forex reserves target.
Rupee, he said, is not in shambles and "we should not be overtly pessimistic".
