Rajan strongly defends RBI's decision to hold the key rates in the absence of any new data points.
The Enforcement Directorate has arrested four persons including the MD of the Lava International mobile company and a Chinese national as part of its ongoing money-laundering probe against Chinese smartphone-maker Vivo, official sources said on Tuesday. They identified the four as Hari Om Rai, the MD of Lava International company, Chinese national Guangwen Kyang, chartered accountant Nitin Garg and a person called Rajan Malik. They have been taken into custody under the provisions of the Prevention of Money Laundering Act (PMLA).
Rajan said the relationship between the RBI and the government has been strong.
Jaitley has made it a habit of giving soundbytes to the media like his predecessors on why RBI should cut interest rates
However, there were conflicting reports about the number of blasts as state ministers VN Vasavan and Antony Raju said there were two blasts, while Congress MP from Ernakulam, Hibi Eden, said there were multiple blasts according to one of his friends who attended the convention.
Rajan, who will be a key member of Finance Minister P Chidambaram's team, was also honorary economic adviser to Prime Minister Manmohan Singh.
While the rest of India marches towards the promised destiny of 'progress', Bihar - the heart of India- is doomed to poverty and the injustices of a caste-based society.
A number of industrial countries are now resorting to populism and this has its own set of political implications.
'Industrial countries are still struggling, with a few exceptions, to grow and the uncertainty about growth in the US as well the world is probably what impelled the Fed to stay on hold.'
Kumar said that while the rise in percentage of population of the deprived castes has led to increase in the quotas for SCs, STs and OBCs from 50 to 65 per cent, his government also planned to undertake a number of welfare measures for the benefit of "94 lakh families", which according to the survey lived in abject poverty.
Concerned over banks hiding their actual NPA numbers, RBI Governor Raghuram Rajan on Tuesday said the central bank is "increasingly turning towards taking action" on such divergences.
New Delhi was reluctant to spook investors by clipping the bank's wings
Rajan was speaking at a news conference.
RBI aiming to bring down headline number to 8% by end of this year and to 6% by the end of next year.
'The Chinese devalued the yuan initially but then stopped'.
Rajan's exit will neither affect the RBI's de facto independence nor its working.
Rajan Bharti Mittal, vice-chairman and managing director of Bharti Enterprises took over as president of Federation of Indian Chambers of Commerce and Industry (FICCI) at the conclusion of its 82nd annual general meeting (AGM).
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.
The rupee has gained 1.89 percent against the dollar in the month to date and 2.93 percent in the past six months.
A few market and economic indicators have begun looking up, thanks to what many term the 'Rajan effect'.
The forex kitty swelled for the fifth week in a row during the week ended December 6 to $295.71 billion, adding $4.41 billion. Between August 30 and December 6, the reserves have increased by close to $17 billion.
Rajan's remarks come as the Modi-led government completes one year.
'For every person there is a different way that you show respect for your country...my mother-in-law will say karmayogi is the way to go - do your work.'
Investors will see that India story actually continues to be a good one, he said.
'RBI and the economy will gain tremendously from Urjit Patel's experience in both private and public sectors'
It took three years of collective fiscal profligacy and policy mismanagement to cause this crisis.
Top bankers on Wednesday exuded confidence that Raghuram Govind Rajan, who today took over as the 23rd Governor of the Reserve Bank, has the intellectual prowess to wade through the present difficulties facing the economy and wished him all success for the stint at Mint Road.
RBI Governor flayed easy monetary policy of central banks in advanced economies saying it is "more cause than medicine".
Market participants are impressed that Rajan has set the ball rolling on his first day at RBI with a series of announcements, raising expectations that more are in store.
Though the IMF wanted him to continue, his university said it won't extend Rajan's leave.
The new pay scale will come into effect from January 1.
Hardik Pandya has quit Gujarat Titans to rejoin his former team Mumbai Indians, following a trade between the two franchises.
Uber had run into trouble with the RBI over the two-payment process
With the 'busy credit season' which witnesses a spurt in loan demand going up, it would be good to lower the rates ahead of it
Declining value of the rupee, widening Current Account Deficit (CAD) and the impact of likely tapering of US bond purchases are some of the key issues which will keep Raghuram Rajan busy.
Industrial countries cannot at this point wash their hands off developing economises and say we will do what we need to, and you do the adjustment you need to, says RBI Governor.
The Reserve Bank on Tuesday nudged banks to cut lending rates.
Rajan also said the RBI had reduced the current account deficit "substantially".
Rajan further said the current account deficit would be better in June than in May.
India's inclusion in JP Morgan's bond index can channel billions of dollars into India. How will the government securities market handle it?
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