But as interest rates keep increasing in the developed economies there could be some reversal of capital flows, and consequent impact on the exchange rate and the economy, Rakesh Mohan cautioned.
Crypto grew because we had near zero interest rates in developed countries for an extended period so people were searching for higher returns.
Former Reserve Bank of India deputy governor Rakesh Mohan has been inducted into the seven-member body, along with TT Ram Mohan of the Indian Institute of Management, and Poonam Gupta, who heads the National Council of Applied Economic Research.
Mohan, a senior fellow at Yale's Jackson Institute for Global Affairs, also said allowing Indian companies to borrow from abroad is a dangerous thing to do.
Mohan also said the Aayog's function to coordinate public investment programmes between ministries at the central level and across states must be restored, but within the framework of new cooperative federalism.
"To bring back investments, the fundamentals of project financing will have to change. Projects will have to be much more completely tied-up before they get funded," Kochhar said at the launch of a book, edited by former RBI deputy governor Rakesh Mohan, here last evening.
Rakesh Mohan, Former Deputy Governor, Reserve Bank of India, expects RBI to undertake liquidity management actively and the country to see large changes in terms of currency outstanding in the economy on account of the demonetisation drive.
Mohan will join the 2016-2017 class of 15 Senior Fellows at The Yale Jackson Institute for Global Affairs. Senior Fellows are leading practitioners in various fields of international affairs who spend a year or semester at Yale teaching courses and mentoring students.
Recent rumours from the Finance Ministry suggest that the announcement of RBI's new governor is likely to take place today.
Two government sources with direct knowledge of the matter said Kaushik Basu, who is stepping down as the World Bank's chief economist, had made it onto a shortlist of candidates to take over when Rajan's term expires on September 4.
Consumer prices in June are estimated to have risen 5.73 percent on an annual basis, according to a Reuters poll, a tad lower than May's 5.76 percent - the fastest pace since August 2014.
Terming the Mumbai-Ahmedabad high speed rail corridor as a "useless project" and "complete waste of money", former RBI deputy governor Rakesh Mohan on July 1 said India needs the right kind of investment in transport sector if it wants to grow at 7-9 percent
The Rajya Sabha member, who consistently attacked RBI Governor Raghuram Rajan and then took potshots at Finance Minister Arun Jaitley, has been lying low after the BJP leadership indicated its unhappiness and Modi voiced disapproval of his conduct.
The four short-listed candidates are: Reserve Bank of India Deputy Governor Urjit Patel, former deputy governors Rakesh Mohan and Subir Gokarn and State Bank of India Chair Arundhati Bhattacharya.
A senior government official said the four were: RBI Deputy Governor Urjit Patel; former deputy governors Rakesh Mohan and Subir Gokarn; and State Bank of India Chair Arundhati Bhattacharya.
In an interview to CNBC-TV18, Rakesh Mohan, former IMF Executive Director says a big job lies ahead for market regulators and central bankers to allay investor fear by assuring them of necessary liquidity supply when needed,
Deputy governor Urjit Patil may be leading the pack of contenders to form the office at the Reserve Bank of India, learns CNBC-TV18.
Speculation was rife today on who will succeed Raghuram Rajan as RBI Governor with over a dozen names doing the rounds, including that of Deputy Governor Urjit Patel, former CAG Vinod Rai and SBI chief Arundhati Bhattacharya.
A day after RBI Governor Raghuram Rajan said no to a second term, former Deputy Governor Rakesh Mohan today said there must be a stability at the top in the central bank and favoured a minimum five-year tenure to push reforms properly.
Speaking in the same discussion, Jehangir Aziz of JP Morgan there was a perception among investors that the reforms made over the last few years have not really been institutionalized
Rakesh Mohan, Executive Director, IMF said power, telecom and ports were much more suitable for Public Private Partnership (PPP) projects. He said the government had to be clear on which areas of infrastructure needed public investment.
In this special pre-Budget series, Ideas for India, star panellists Rakesh Mohan, former Deputy Governor of Reserve Bank of India, Jehangir Aziz, Chief Economist at JPMorgan and Sonal Varma, Chief Economist at Nomura discussed the king of all Budget themes, the fiscal balance.
Samiran Chakraborty, Chief Economist, Citibank, says India will continue to recover among the emerging markets, but a slow growth in global economy will be an external headwind for the country.
It is a welcome sign for the Indian economy that the incoming governor knows exactly what he wants to do and that he has laid out his programme, feel experts
The government has appointed Raghuram Rajan, the chief economic adviser in the finance ministry, to be the next governor of the Reserve Bank of India for a three year term.