"Daley gave his letter of resignation to the president in a private meeting in the Oval Office last week, recounting the administration's successes of his one year on the job and saying it was time for him to return to his hometown of Chicago," said The Chicago Tribune, which was the first one to break the news.
US President Barack Obama has proposed a $3.2 billion assistance for Pakistan for fiscal 2011, a substantial jump in American aid to that country.
Jaitley is scheduled to present his first full Budget on February 28.
Following the meeting, Subbarao said the central bank will look into the latest inflation numbers before coming out with the monetary policy review.
She will replace Ben Bernanke as the Chair of the Federal Reserve.
The US government, that invested $49.5 billion in the Detroit automaker to save thousands of jobs at the height of the financial crisis five years ago, lost about $10 billion, Treasury Secretary Jacob Lew said on Monday.
Narendra Modi government, the US Treasury Secretary Jacob Lew on Thursday said India needs more reforms
Indian economy is on growth path, says US diplomat.
In an angry reaction to US Defence Secretary Ashton Carter's remarks that "China's actions could erect a Great Wall of self-isolation" in the South China Sea, Chinese foreign ministry spokesperson Hua Chunying told media that "Carter's remarks reflected typical American style thinking and hegemony".
To combat terror financing, India and the US committed to work together to check illicit money transfers.
Richard Rahul Verma, the first Indian American to serve as US Ambassador to New delhi, quips that surviving the first month in India is his first goal.
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