RBI Governor Raghuram Rajan on Tuesday said the government will decide on extension of his tenure.
There are however, enough dovish signals in the governor's statement to indicate a pro-growth policy going forward.
Rajan was speaking at a news conference.
If 2012 was a year that saw Indian bourses scripting a dramatic turnaround after the meltdown, 2013 was marked by consolidation in the first half and a new found optimism by market participants in the second half.
Rajan's comment comes against the backdrop of certain BJP leaders questioning his policies to deal with the current economic woes.
Rajan spoke at the Delhi Economic Conclave 2013 on 'The Agenda for the Next Five Years' in New Delhi.
Centre to take a call only in August, just a month before his three-year term ends.
The EC is yet to decide on RBI's request to grant new licences during the election season.
Rajan added "many" market participants were convinced that India could hit the RBI's target of bringing down consumer inflation to 6 percent by January 2016.
Foreign brokerage HSBC said emergence of pleasing data and the likelihood of RBI holding its key rate on April 1, should not lead to believing that the rate tightening cycle is over.
The government-appointed Financial Sector Legislative Reforms Commission (FSLRC) has recommended a slew of reforms to overhaul the sector.
The Governor of the Reserve Bank of India may need all the suave charm of the fictional British spy to sell that same hard-nosed agenda to a powerful new prime minister.
Former Banque de France head Jacques de Larosire was given the Lifetime Achievement Award for his lengthy struggle for monetary order, the magazine said in a statement on Monday.
Minutes after the Union Cabinet approved raising the cap on subsidised liquefied petroleum gas (LPG) cylinders from nine to 12 per connection in a year, Reserve Bank of India (RBI) Governor Raghuram Rajan questioned the decision, suggesting it was "misdirected subsidy".
The year 2015 is likely to see lower rates to support growth and the Reserve Bank is expected to cut key policy rates by 0.25 per cent in February's monetary policy review meet, says a Bank of America Merrill Lynch report.
Even as money floods into India, the Reserve Bank is bracing for the worst, building up currency reserves and drafting a game plan to protect the rupee against the sort of rout that alarmed policymakers and investors last year.
Recent data suggest that the economy isn't out of the woods, and the PM-designate must live up to high expectations.
BSE Realty, Capital Goods and Consumer Durables indices were down by 3% each.
The immediate challenge to faster growth is to restore stability to the currency markets.
India's corporate sector sees big ticket deals in 2013.
The Reserve Bank of India on Tuesday kept key rates unchanged.
People who advocate a rate hike because inflation is very high, even without the food component, have in mind some developed-economy structure, Raghuram Rajan tells Business Standard in an exclusive interview.
Fed move based on US economic recovery, which should boost India's exports, narrow CAD and help curb 'imported' inflation
Bharatiya Janata Party leader Subramanian Swamy on Sunday once again attacked Raghuram Rajan on the monetary policy, over a month after Prime Minister Narendra Modi had disapproved of his criticism of the Reserve Bank of India chief.
Addressing a rally in Suratgarh town of Ganganagar district, a day after declaring his party would roll out the scheme if voted to power, Gandhi alleged that Prime Minster Narendra Modi gave money to the rich and top industrialists of the country, but the Congress would serve the poor.
Bharatiya Janata Party's prime ministerial candidate Narendra Modi is the most talked about person on Facebook in India beating likes of cricketing legend Sachin Tendulkar and Apple iconic device iPhone 5s, the US-based social networking site said on Monday.
The RBI on March 12 approached the Election Commission seeking its approval for granting bank lincences as the model code of conduct had come in place after the general elections announcement on March 5.
Indian economic growth hit a low of five per cent in the financial year ended March 31,2013 and further slowed in the first quarter of FY14.
A panel headed by Reserve Bank of India deputy governor Urjit Patel recommended in January moving to an inflation target.
AIBEA said that on April 19 its officer bearers would meet in Punjab to decide the next course of action.
Rajan also expressed hope that a stable government after the Lok Sabha elections will continue the broad fiscal policies of the current regime and India may finally get the Goods and Services Tax, an ambitious indirect tax reform measure.
Rajan said the relationship between the RBI and the government has been strong.
RBI sees marginal improvement in economic growth to 5-6%.
RBI governor highlights the role of fate in his career at a meeting of the IIM-A alumni.
Raghuram Rajan has described the fall in reserves as dip in valuation with appreciation of dollar against other currencies
Rajan rules out picking unconventional tools to tame inflation
Rupee has strengthened but is this sustainable.Or are we staring at a slip very soon.
Reserve Bank Governor Raghuram Rajan on Tuesday again surprised the markets and raised the key policy rate by 0.25 per cent to 8 per cent in a bid to curb inflation, a move that may translate into higher EMIs and push up the cost of borrowing for corporates.
Raghuram Rajan's signal of a neutral stance is at odds with concerns about inflation and markets' revised expectation of more increases in the repo rate
Dr Rajan has clearly sought to establish his credentials as an inflation fighter and the action should be seen as an indication of how monetary policy will operate during his term.
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