Standard & Poor's Ratings Services Global Financial Literacy Survey said in Asia, Singapore is home to the highest percentage of financially literate adults (59 percent), followed by Hong Kong and Japan (both at 43 percent). Less than a third of adults in China (28 percent) are financially literate.
Still, analysts believe more policy steps are needed to weather nagging headwinds from a cooling property market, risks from high domestic debt levels, and weak global demand as financial markets brace for interest rate rises by the US Federal Reserve.
Indian shares may open lower Tuesday, following weakness in Wall Street overnight, after oil prices fell to a seven-year low, sparking worries of the health of the global economy.
According to the final Caixin/Markit China Manufacturing Purchasing Managers Index, China's manufacturing activity contracted for the ninth straight month in November, but more slowly than in October.
RBI is scheduled to announce its bi-monthly monetary policy review on December 1 and there are expectations that it is likely to keep key policy rates unchanged.
They are keen to exhaust the conventional and more direct monetary policy tool as they also consider amending the 60-billion-euro asset purchase programme, a far more contentious issue that they have yet to agree on.
Raghuram Rajan was speaking in a televised debate with the government's chief economic adviser Arvind Subramanian, who prodded the RBI governor to take into account wholesale price inflation in monetary policy decisions.
The government has proposed to set up MPC, which will consist of representatives from the Finance Ministry and RBI, to decide on interest rate. Rajan said the final call on the timing of implementing MPC will be taken by the Finance Ministry.
Interest rate on Medium and Long Term Government Deposit (MLTGD) are 2.25 percent and 2.20 percent, respectively, according to a notification issued by RBI today. The tenor of medium term would be between 5-7 years while long term would for 12-15 years tenure.
While mutual funds can help manage credit risk and reinvestment risks, investors must understand how individual mutual fund schemes function before committing their hard earned money
"US Fed keeps rates unchanged. Emerging markets get more space. India better prepared to deal with Fed policy reversal when it comes," Economic Affairs Secretary Shaktikanta Das tweeted.
The 58-year-old American will take up his new role on December 1, the bank announced in a statement, indicating a renewed focus on its investment division.
Janet Yellen's inclusive style has been tested recently by two fellow governors who publicly appeared to disagree with her view, shared by Vice Chair Stanley Fischer, that the Fed will probably need to raise interest rates this year.
Investors should first take a look at the fund where they have put their money and the nature of the fund.
Li Keqiang said China successfully swerved systemic financial risks and that there was no long-term basis for depreciation of China's currency, the renminbi. Li was speaking at a meeting with former US treasury secretary Henry Paulson.
Interest rate for fixed, cumulative deposits for period of 12, 18, 48 and 60 months has been revised to 8 percent compared to existing 8.25 percent, the Chennai-based company said in a statement.
Many Fed watchers are exasperated by the mixed messages from the US central bank in recent weeks. Fed Chair Janet Yellen and other officials have said they expect a rate hike will be needed by the end of this year, but two Fed governors this week urged caution.
Speaking on the sidelines of a central nank board meeting held in Mizoram on Thursday, Raghuram Rajan said that the Bank of Baroda case does raise some questions over the fraud detection system that is in place right now
A Fed hike would have a bigger impact because emerging markets, particularly China, are now integrated in the global economy to an unprecedented degree, countries are more interlinked in production, cross-border capital flows have increased, and forward guidance has become a crucial monetary policy instrument, Constancio said on Thursday.
Traders see about a 40 percent chance the Fed will raise rates in December, and give about even odds for the January meeting.
The government has proposed to set up the MPC, which will consist of representatives from the Finance Ministry and RBI, to decide on interest rate.
Activity in China's vast factory sector shrank again in September fuelling fears that the economy there may be cooling more rapidly than thought just a few months ago, with a reverberating impact on emerging and developed economies.
In the fourth bi-monthly monetary policy review yesterday, Governor Raghuram Rajan cut interest rate by 0.50 percent, leading to a rush of base ret revisions by banks, led by State Bank of India.
RBI yesterday surprised the markets by reducing the benchmark lending rate by 0.50 percent to 6.75 percent. Experts were expecting only 0.25 percent rate cut.
Reserve Bank Governor Raghuram Rajan is widely expected to cut interest rate tomorrow by a quarter percent to a 4-year low to accelerate a sluggish economic recovery, but may underscore concerns over prices in a year when monsoon rains have been deficient.