Modi defends under-fire outgoing RBI chief Rajan


NEW DELHI Prime Minister Narendra Modi praised outgoing Reserve Bank of India Governor Raghuram Rajan on Monday, days after the central bank chief made public his decision to stand down after just one three-year term.

More headlines

Messi retires from internationals after Chile retain Copa 8:22pm IST

EAST RUTHERFORD, New Jersey Lionel Messi blasted a penalty over the bar in what looks like being his last act in international football as Chile beat Argentina in a shootout to win the Copa America for the second year in a row on Sunday.

Next RBI chief faces balancing act on bank clean-up 8:24pm IST

MUMBAI India's next central bank chief faces a tricky task completing a bank clean-up spearheaded by outgoing Governor Raghuram Rajan, while coping with the demands of a government that is desperate to see a revival in lending to businesses.

India cuts shortlist for new RBI chief to four 8:24pm IST

NEW DELHI The government has narrowed its list of candidates to become the next governor of the Reserve Bank of India to four, a senior official told Reuters, as it set in motion the process of naming a new Monetary Policy Committee (MPC).

Retail gold buyers take profits in bullion after Brexit price surge 9:38pm IST

LONDON Retail gold investors are booking profit on metal bought to hedge against Thursday's decision by British voters to leave the European Union, while an initial surge in buying slackened off on Monday.

Mumbai red-light area gentrifies, putting sex workers at greater risk 7:08pm IST

MUMBAI (Thomson Reuters Foundation) - Rising rents and redevelopment are forcing sex workers out of Mumbai's oldest red-light district, leaving them vulnerable to further exploitation, according to a new report.

Starbucks to debut small-lot Indian coffee in U.S. this year 12:21pm IST

Starbucks Corp for the first time will sell single-origin, premium coffee from India in the United States as part of its effort to support coffee production in the country better known for its tea.

Fresh resignations heap pressure on UK opposition leader Corbyn 5:38pm IST

LONDON A wave of lawmakers from the opposition Labour Party resigned in protest from leader Jeremy Corbyn's team on Monday, including his most senior business policy chief who said Corbyn was partly to blame for last week's vote to leave the EU.

Pakistani clerics declare transgender marriages legal under Islamic law 10:07pm IST

LAHORE, Pakistan A group of clerics in Pakistan has declared marriage between transgender individuals permissible in Islam, saying they have a right to be buried in Muslim ceremonies, according to a copy of a religious edict Reuters obtained on Monday.

Air pollution to kill millions more without energy policy change - IEA 3:42pm IST

LONDON Premature deaths from air pollution will continue to rise to 2040 unless changes are made to the way the world uses and produces energy, the International Energy Agency said on Monday.