India's inflation rose to 6-month high at 6.1% in August.
The currency gains 4% on the US Dollar in the five days to 20 September.
Dovish MPC member David Miles sees positive signs for economic recovery.
US Treasury expected to hit its $16.7tn borrowing ceiling around mid-October.
Rate hike in India weighs on regional investor sentiment in the short term.
JPM also ordered to pay nearly $1bn in fines related to the London Whale scandal legal losses
India's rupee leads Asian forex rallies after months of decline.
A number of unnamed official White House sources say Obama will nominate Yellen
Current pace of US growth does not justify tapering $85bn stimulus programme.
Current pace of US growth does not justify tapering monetary stimulus.
Surprise decision to hold to $85bn-a-month bond-buying stimulus fuels stock market rallies in US and Asia.
Federal Reserve to start paring back $85bn a month bond-buying stimulus.
Federal Open Market Committee started a meeting on 17 September to decide on tapering of bond-buyback programme.
Ben Bernanke's deputy is known for sound judgment and experience
Country's debt-to-GDP ratio is the biggest among 13 emerging Asian markets after Sri Lanka at 53.3%, according to Bloomberg.
Ben Bernanke deputy seen as a safe pair of hands to help US economy recover.
JPM's CIO former traders indicted after being charged with allegedly trying to cover up the bank's legal losses
Fed may trim its bond-buys by $10bn from September onwards.
Fed Reserve may trim bond-buys by $10bn.
JPM reveals it will rack up more than $1.5bn in additional legal expenses.
Controversial economist concludes he carries too much baggage
FSB survey reveals growing number of SMEs planning to invest in expansion.