The partially convertible rupee has so far depreciated more than 7 per cent against the US dollar, but Das said the depreciation was less than in other currencies
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Inflation has remained above RBI's 2 per cent to 6 per cent tolerance band for several months, with consumer inflation at 6.71 per cent in July
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While speaking at the Bombay Chamber of Commerce and Industry, Sankar said that India has made impressive progress in the development of the corporate bond market
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The private and state-run banks have raised around 300 billion rupees ($3.76 billion) through two-month to one-year certificates of deposits in the two weeks to August 19
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Inflationary pressure has not eased yet but should do as prices of crude oil and food items like edible oil fall
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Only regulated entities such as banks and shadow banks will be allowed to disburse and collect re-payments on loans, and this will not be left to third parties, the central bank said
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The companies likely to be affected are mostly in the power, healthcare, engineering, construction and roads sectors
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India's banking system liquidity surplus rose to more than Rs 2 trillion on Wednesday, after dropping to a near three-year low below 500 billion rupees ($6.34 billion) last week
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The Punjab & Sind Bank will also be transferring bad loans worth over five billion rupees to the national bad bank which will also help to trim toxic assets
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With inflation running at a near-decade high and the rupee trading near a record low, the RBI, which only began raising rates in May, is expected to front-load subsequent hikes to catch up with its global peers
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