More than Rs1,000 crore was sent abroad via fake Bills of Entry in recent months.
The retail inflation, for the month, too, had fallen to 6.46 per cent, inching closer to RBI’s target of 6 per cent by March 2015.
Country heading towards a ‘low and stable’ price regime: FM.
Participation of FPIs in the OTC currency derivatives also has remained quite low.
Some of the infra loans extended by banks in the last couple of years have already become stressed assets.
Plans are to make Centre responsible for setting inflation targets.
The post of the CEA has been vacant since September 2013 when Raghuram Rajan was appointed as the Governor of the Reserve Bank of India.
This audit is meant to separate those which get into trouble because of business reasons and those where promoters attempt to siphon off money.
Retail inflation may shoot up to 8% by March 2015.
The foreign-owned assets in India increased by USD 22.9 billion over…
Demand likely to be buoyant as urban housing shortage is estimated at 18.78 mn units.z
Rajan added the RBI is talking to Euroclear and other organisations to allow trading in Indian government bonds to be settled through their systems.
RBI Governor Raghuram Rajan spoke on various issues ranging from global markets, coal blocks, credit offtake to the rupee. Excerpts:
The data comes on a day when the Reserve Bank of India kept the key interest rates unchanged, the fourth time in a row.
You can’t take the patient out of medicine before he’s cured: RBI Governor Raghuram Rajan.