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
Imports dropped 13.16 per cent year-on-year
Rajan said the central bank has used up all its "space available" to cut interest rates
India does not have a unified regulatory regime to counter Ponzi, or pyramid, schemes whose operators typically grab new deposits to meet their promise of guaranteed returns to existing savers, point out Manoj Kumar and Mayank Bhardwaj.
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
Like pharmaceutical companies globally - which used to enjoy a preferential exchange rate in Venezuela - Indian producers have been left badly stung by the collapse of the bolivar currency
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
The insolvency and bankruptcy code will strengthen the hands of lenders to recover outstanding debts by setting a deadline of 180 days for companies to pay or face liquidation
Three members will be representatives from the government, and three from the RBI.
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
Infrastructure accounts for nearly 38 per cent of India's industrial output
Bankers back the new bankruptcy code, which would impose debt deadlines on failed firms and foresees up to five years in jail for debtors who conceal property or defraud creditors
Retail inflation has eased from double digits in 2013.
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.
India, the bank's second biggest shareholder after China, is looking to borrow from the AIIB.
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