The principal challenge for Rajan's successor is to work with the Bank Board Bureau and the finance ministry to complete these processes of banking reform.
'You have to be a total anti-national bozo to shut down the Nokia plant in Sriperumbudur, which was the first large manufacturing plant for mobile phones in India.' 'Why was the unit shut down? Because of somebody's ego.'
A chat with investment expert Feroze Azeez on what impact will the hike in RBI rate have on the consumers.
Raghuram Rajan said a six-member monetary policy committee will decide on interest rates.
Subramanian Swamy has been critical of Rajan for not lowering interest rates earlier to boost growth.
Raghuram Rajan, the PM's honorary economic advisor, said in 2006, 'It is important for India to exchange its paternalistic, directive government, which seeks to remedy every wrong through a subsidy, a quota, or a scheme, for one that creates an enabling environment for the people and unleashes their entrepreneurial zeal.' Two years later, his words seem prescient. But how much of what he says should be done will be done by the government in the limited tenure it has left.
RBI Governor Raghuram Rajan on Tuesday kept the repo rate unchanged 6.50 per cent.
RBI governor Raghuram Rajan says a cut in cash reserve ration will not at all impact lending rates.
Reserve Bank of India Governor Raghuram Rajan had said recently that there was "no need" to set up a separate bad bank to deal with stressed assets of public sector lenders.
Rajan is an acknowledged academic, author and intellectual. He spoke on issues which are in the public domain, said Chidambaram
RBI Governor Raghuram Rajan's decision to not seek a second term is a "personal one" which everybody should respect, Chanda Kochhar MD & CEO, ICICI Bank said.
During the pre-budget consultation with Union finance minister, some states made a case for fiscal expansion by boosting consumption to tide over the sluggishness in the economy.
CPI inflation has declined by almost a percentage point from July, from close to eight per cent to just above seven per cent.
Making light of his critics, he also said there are people who send him 'anonymous thank you notes' even when he on a plane.
The International Monetary Fund on Thursday asked India to "very carefully" look at the much-touted Special Economic Zones, saying the giveaways and tax sops to the zones could divert industrial activity from the rest of the country.
There is nothing wrong with government and RBI having conflicting opinions.
The rupee on Monday ended lower by 23 paise to close at an over two-week low of 67.31 against the US currency.
Former Finance Minister P Chidambaram had said he was "disappointed and profoundly saddened" by Rajan's decision.
He called on developed countries to play their part in restoring international monetary cooperation.
Describing the BJP's election victory as an "astonishing triumph of Narendra Modi", noted economist Jagdish Bhagwati on Monday advised him to retain Raghuram Rajan as RBI Governor and to hold monthly press conferences to articulate the government's agenda.
Rajan has a great track record abroad.
In 2013, India suffered its worst currency crisis in more than two decades but has regained the confidence of foreign investors in part after its current account deficit has narrowed sharply and its foreign exchange reserves hit a record high
Rajan said that demand needs to be reduced without having severe effects on investment and supply.
Jaitley was reacting to a question by CNBC TV18 on Rajan's remarks last week.
Bihar Chief Minister Nitish Kumar on Friday called for a daylong 'Bihar Bandh' on March 1 to protest against denial of special category status to the state by the Congress led UPA government.
IMF chief said the G20 leaders need to respond to the calls for creating jobs.
The friction with the political class is not only about interest rates and monetary policy. While the government often spoke freely about its discomfiture, the RBI had to be careful even in its response to the government as any loose statement would affect the markets.
The bank's base rate currently stands at 10 per cent and the last movement in it was in November last year, when it was hiked by 0.20 per cent.
RBI governor does not want to move in haste for achieving financial inclusion.
'The RBI is something like a seat belt. As a driver, the driver being the government, it has the possibility of not putting on a seat belt but of course if you do not put on your seat belt you get into an accident and the accident can be quite severe,' Raghuram Rajan told CNBC TV18. 'The aim of the board is to be Rahul Dravid -- sensible, thoughtful and not, with due respect, Navjot Sidhu,' he added.
RBI's previous monetary policy was announced on September 29.
The policy will be presented in the backdrop of rising inflation.
The rupee had closed at 60.1550/1650 per dollar on Monday.
The International Monetary Fund chief economist-designate Raghuram Rajan feels big deficits -- whether India's fiscal deficit or the United States' current account deficit -- are not sustainable in the long term.
'When a soldier becomes a king, he better be a king. He should now just forget the past and move beyond continuity. He should catch the potential of India's moment and play a leader's role,' says Vallabh Bhansali of Enam Group.
"We did not abuse RBI governors," says Chidambaram.
The inflation target of the RBI would be reviewed once every five years.
RBI unsure whether to cut rates or not in its next monetary policy.
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