The bank's net profit fell to 2,232 crore for its fiscal first quarter to June 30.
Top Indian private sector lender ICICI Bank, which owns nearly 68 percent of the insurer, is selling up to 181.34 million shares in the IPO.
While a pick-up in summer monsoon rains in recent weeks is expected to cool food inflation, most analysts don't anticipate another rate cut before a new governor is on the job
Panagariya, who heads the government's main economic advisory body NITI Aayog, is also India's Group of 20 summit negotiator
With their weak metrics and high bad loans, India's state-run banks have not been investor favourites
Annual growth in electricity production last month slowed to 4.6 per cent from 14.7 per cent in April.
The stress in the banking sector, which mirrors the stress in the corporate sector, has to be dealt with in order to revive credit growth.
Here is some background on the candidates seen as potential successors to Rajan at the RBI
As the clean-up has taken hold, loan growth slipped to 10.7 per cent in the last fiscal
While he has plenty of critics at home, Rajan is a favourite among foreign investors and has been credited for bringing inflation under control.
Even before Prime Minister Narendra Modi swept to power in 2014, Subramanian Swamy was agitating for Rajan's removal.
Raghuram Rajan joked he wasn't expecting to win any votes or Facebook 'likes' in the position.
Bankers and government officials told Reuters Rajan's successor may be less aggressive in fighting bad loans, but the general direction will remain the same
Finance Minister Arun Jaitley said in a Twitter post that the government appreciated all of Rajan's good work and respected his decision
Imports dropped 13.16 per cent year-on-year
The first signs of growing bonhomie between Modi and Rajan came early last year, when Modi called Rajan the "best teacher" for explaining complex economic issues to him.
India's upbeat outlook contrasts with neighbouring China, where growth slipped to 6.7 in the first quarter
The prospect of further falls in remittances is a hindrance for the Reserve Bank of India, as it seeks to bullet-proof the economy against sudden capital outflows
The ratings agency currently rates India at Baa3
Indian banks would have to make higher provisions for lending to large corporate borrowers above a certain level from next financial year, according to proposals published by the Reserve Bank of India (RBI) on Thursday.