Economy

The CIC had issued the notice to Urijit Patel as the RBI refused to disclose the list of big loan defaulters in spite of orders of the Supreme Court.

According to sources, the board meetings are pre-decided and the agenda is also circulated much in advance.

While country's growth is picking up again, there is the issue of oil prices, Rajan noted.

Non-food credit rose Rs 31,230 crore to Rs 89.79 crore, while food credit rose Rs 9,510 crore to Rs 55,030 crore.

Government's fiscal math "is completely on track" and dismissed media reports that it was seeking Rs 3.6 lakh crore from RBI's reserves, says Subhash Chandra Garg, economic affairs secretary.

If the data meets forecasts, October will mark the third straight month retail inflation has been below the RBI's medium-term target of 4 per cent.

"The labour market has continued to strengthen and ... economic activity has been rising at a strong rate," the US central bank said, leaving intact its plans to continue raising rates at a gradual pace.

Arun Jaitley said RuPay's total transactions had leapt to Rs 8,430 crore ($1.16 billion) as of September, from Rs 1,100 crore before demonetisation.

The government had on November 8, 2016, announced ban on old 500 and 1000 rupee notes, to curb black money in the system.

India, which got a waiver from the latest tougher US sanctions against Tehran on Monday, used a similar mechanism in the previous round of sanctions but settled only 45 per cent of the payments in rupees.

Government intends to keep pressing demands for the RBI to relax lending curbs and hand over surplus reserves even if it risks provoking a resignation by the bank's governor, sources tell Reuters.

That speech by RBI Deputy Governor roiled markets and prompted the government to issue a statement in support of the central bank's autonomy.

Some of the eight countries - China, India, Greece, Italy, Taiwan, Japan, Turkey and South Korea - include OPEC (Organization of the Petroleum Exporting Countries) member Iran's top customers.

Weaker cost pressures, alongside a decline in oil prices, may prevent inflation from shooting above the RBI's medium-term target of 4 per cent.

On October 31, the government came out with a statement saying it respects the autonomy for the central bank within the framework of the RBI Act.