The Reserve Bank of India (RBI) governor Raghuram Rajan on Monday lashed out at crony capitalism and crooked politicians, and called to strengthen the public services directed at the poor as India completed 67 years of independence. In a hard hitting speech, at the Lalit Doshi memorial lecture, the governor highlighted the need to nip corruption. "By killing transparency and competition, crony capitalism is harmful to free enterprise, opportunity, and economic growth. And by substituting special...

Ahead of monetary policy review on Tuesday, Reserve Bank of India (RBI) governor Raghuram Rajan on Sunday called on Prime Minister Narendra Modi and is likely to have discussed the macro-economic situation and issues related to price rise. The RBI’s bi-monthly policy review on 3 June will be the first after Prime Minister Narendra Modi assumed office on 26 May. Last week, Rajan also met the newly appointed finance minister Arun Jaitley and had said fighting price increase is a priority, stressing...