As the clean-up has taken hold, loan growth slipped to 10.7 per cent in the last fiscal
Raghuram Rajan joked he wasn't expecting to win any votes or Facebook 'likes' in the position.
The RBI is not statutorily independent from the government but has long enjoyed wide latitude
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
As with TCS, most companies put their money in mutual funds, corporate bonds and bank deposits, which are losing their appeal versus government bonds in terms of both returns and safety.
Rajan said the central bank has used up all its "space available" to cut interest rates
These cash shortages increase banks' funding costs, making it harder for them to lower lending rates
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
In 2013, India suffered its worst currency crisis in more than two decades but has regained the confidence of foreign investors in part after its current account deficit has narrowed sharply and its foreign exchange reserves hit a record high
India's $121 billion troubled debt pile, over $100 billion of which is on the books of state-owned banks, has come under close scrutiny from prosecutors, the media and politicians
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
After months of denying there was a liquidity problem, Governor Raghuram Rajan has reversed course.
Three policymakers aware of the central bank's deliberations on the Budget said they are combing through the numbers to test how Jaitley struck a balance, and question some of the assumptions.
Markets hope the Budget will steer spending towards infrastructure.
RBI Governor Raghuram Rajan wanted to improve training for staff, through initiatives such as sending them to other central banks for short stints.
Urjit Patel's reappointment will raise market hopes that Rajan, will also be offered an extension when his tenure ends in September.
Traders suspect The Reserve Bank of India (RBI) bought bonds and actively intervened in the rupee to support sentiment.
RBI's tricky strategy to ease market's pre-Fed jitters.
India's overall retail inflation eased to 4.41 per cent in September, helped by falling commodity prices, but rural inflation was at 5.05 per cent
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