RBI Governor Raghuram Rajan has been pursuing hawkish monetary policy stance to keep inflation under check.
The partially convertible rupee ended at 62.2825/2925 per dollar.
'Urjit Patel's appointment is a right decision and in the interest of the country.'
Due to lower output from mines, utilities and factories, the July factory output data came down to 0.5 per cent year-on-year, the government data showed on Friday, down from June's revised 3.9 per cent rise.
In the mid-quarter monetary policy review last month, RBI Governor Raghuram Rajan had left the key policy rate unchanged, after raising it 50 bps in two instalments since he took over on September 4, saying he was waiting for more data clarity.
Mallya, whose Kingfisher Airlines owes money to several banks, had on Thursday said he will challenge UBI's decision to declare him a willful defaulter.
Rajan said that despite easy liquidity, banks have passed rate cuts into lending rates modestly.
To check rising current account deficit, the government has raised import duties and the Reserve Bank of India had imposed curbs on import of the yellow metal and also laid down various pre-conditions for inward shipments of the precious metal.
Supported by greater demand from both domestic and external markets, total new business rose at the fastest pace since March
Noted economist Arvind Subramanian is favoured as the choice for the government's Chief Economic Advisor (CEA).
In its mid-quarter review of monetary policy, RBI on Wednesday kept all key interest rates unchanged notwithstanding persistent high inflationary pressure.
Global rating agency Moody's said India's economic growth remains weak and there is little chance of recovery next year.
Arun Jaitley on Sunday said monetary policy plays an important role in stimulating growth.
The RBI governor says, Mahatma Gandhi is the only dignitary which can be featured on rupee notes.
Urjit Patel as the new RBI governor whose focus is on taming inflation has lowered the probability of interest rate cut soon
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.
Admitting that there are governance issues in the public sector banks, RBI Governor Raghuram Rajan underlined the need for improving transparency in sanction of loans.
Rajan was speaking in Hyderabad at an interactive session at National Institute of Rural Development and Panchayati Raj.
Reserve Bank is scheduled to announce its bi-monthly monetary policy on August 3.
A 13-member group, headed by RBI Executive Director R Gandhi, has made various recommendations on G-Sec market, retail participation and interest rate derivatives market.
The Reserve Bank of India has already reduced the policy rate by a total of 75 basis points, or 0.75 per cent, since January.
RBI is expected to discuss about the impact of GST in its monetary policy.
It was a 'Black Monday' again in markets today and history shows that seven out of the ten biggest carnages on Dalal Street has taken place on a Monday!
A reading above 50 denotes expansion while one below means contraction.
She said 30 basis points (0.30 per cent) rate cut has already happened.
Panagariya also stressed that India must continue the liberalisation of its top tariff rates and the country should not revert back to import substitution.
According to him, since India has a low fiscal deficit, a low current account deficit and lower inflation, there is no need for being too dependent on foreign money for growth.
Inflation has remained a major concern.
Patel, 55, who took over as the 24th Governor of the central bank on September 5, 2016, had the shortest tenure since 1992.
In a letter to Union Finance Minister P Chidambaram, he said the proportional share between the Centre and the state in centrally sponsored schemes should be changed for the least developed states like the one existing for special category states now.
Green signal from Jaitley; CVC okays Hemant Contractor for head of PFRDA
Anandabazar Patrika reported that Rajan would prefer to go back to the United States after his three-year term expires in early September
Of the 52 economists polled, 50 expect the policy repo rate to remain at 7.25 per cent, and 47 of 48 respondents see the cash reserve ratio, or the portion of deposits banks have to maintain with the central bank, unchanged at 4 per cent.
The RBI working group's proposal to allow corporate houses to set up banks is a "bombshell" and at this juncture, it is more important to stick to the tried and tested limits on involvement of business houses in the banking sector, according to an article jointly written by former RBI Governor Raghuram Rajan and ex-Deputy Governor Viral Acharya. They also said that the proposal is "best left on the shelf".
Lauding the pro-reforms approach adopted by Reserve Bank of India Governor Raghuram Rajan, industry body Confederation of Indian Industry on Thursday expressed the hope that the central bank would shift towards an expansionary monetary policy by cutting interest rates to stimulate growth.
The Reserve Bank on Thursday said it has put in place contingency plans to infuse liquidity into the system to deal with any possible volatility in markets on Friday in view of the election results.
Subdued exports remain an area of concern.
Various global and domestic factors had a sizable impact on the performance of the Indian markets
The HSBC India Composite Output Index, which maps both services and manufacturing, increased from 48.9 in March to 49.5 in April, but remained below the crucial 50 mark which indicates contraction for the second successive month.
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
