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.
Listening -- really listening -- to advisers in the government and outside would help. India has plenty of wise economists who have worked within the bureaucracy during previous crises, points out Rahul Jacob.
He added that the risks can increase if the Chinese slowdown gathers more speed.
In a recent article, Rajan has ridiculed critics of the exchange rate policy.
The surge is a stark turnaround from 2013 when the country's current account gap hit a record high due to outflows on expectations the US Fed would rein in its stimulus programme
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.
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.
RBI Governor Raghuram Rajan asked banks to follow suit and pass on the rate cuts.
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.
There is also a lobby within the bureaucracy that wants to see Rajan's influence curtailed
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 RBI in November released a framework for large foreign banks with more than 20 branches to convert into wholly owned subsidiaries.
.jpg)
The year-end should not be a time for any spectacular changes in the banking system and must pass smoothly, Rajan told reporters after announcing the bi-monthly monetary policy, which left key policy rates unchanged.
Experts interviewed CMDs of nine public sector banks on Friday and Kamath is believed to be in the reckoning
Service providers' confidence with regard to the 12-month outlook for business activity remained positive.
The device supports a host of India-specific apps and the more you use it, the better it gets.
.jpg)
KC Chakrabarty who was appointed as RBI deputy governor in 2009, is considered frank with his views.
The CFO will formulate the accounting policy of the bank, maintain the internal accounts and report financial results, and carry out corporate strategy functions like PF policies.
The government has changed the criteria for infusion of capital.
The interest money which is not claimed by people due to religious obligations is kept in suspended bank accounts.
Bad loans of PSBs are at Rs 20 trillion. Most of it is, I sense, due to corruption and behest lending. Nobody pays a price for this charade. Not the promoters, the bankers, RBI officials, finance ministry bureaucrats or politicians, points out Debashis Basu.
A RBI constituted panel on financial inclusion headed by Nachiket Mor had recommended the setting up of the payments banks in order to deepen access to finance.
Urjit Patel said said the process of remonetisation was on and estimation of costs was a complex exercise.
India is better prepared to deal with any further US Fed tapering, but the country needs to remain vigilant to face eventualities, Reserve Bank Governor Raghuram Rajan said.
The convertibility is RBI Governor's 'next big ambitious goal'.
We may now be experiencing the darker side of the massive monetary stimulus of past years, said Rajan.
Suggesting steps to boost the Indian economy, the IMF chief further said the government should focus on fiscal consolidation.
Rupee rebounds from one-week low, up 9 paise against dollar.
The rupee had ended five paise lower at 61.92 on Tuesday.
The Consumer Price Index-based inflation rose to 5.11% in January
Duterte had consistently led the Time 100 Reader Poll, an online survey in which the publication had asked its readers to vote for who should be included in this year's Time 100 list of the world's most influential people.
India needed more specialists within government
After two surprising, successive rate cuts in January and February 2015, RBI governor Raghuram Rajan decided not to reduce them further in his first policy announcement in the new financial year. Is he playing spoilsport for consumers of homes and cars?
The 30-share Sensex ended up 12 points at 28,517 while the 50-share Nifty ended nearly unchanged at 8,660.
.jpg)
The rupee resumed slightly lower at 62.05 per dollar as against the last weekend's level of 62.04 at the Interbank Foreign Exchange market. It recovered to 61.88 per dollar before quoting 61.93 at 1045 hours.
Raghuram Rajan on Tuesday said the central bank cannot ask them to lower the rates.
Reserve Bank Governor Raghuram Rajan on Monday warned against compromising India's interest for the sake of attracting foreign investment and said the priority should be framing transparent policies as well as resolving contractual tax disputes quickly.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances