RBI's new rules, effective 10 April, cap open positions banks can hold in onshore currency market at $100 mn at end of each trading day. Change forces lenders to shrink their books.
In Episode 1544 of CutTheClutter, Editor-in-Chief Shekhar Gupta looks at some top economists pointing to the pitfalls of ‘currency nationalism’ with data from 1991 to 2004.
RBI decision to not reissue copper-nickel series of Re 1 and 50 paise coins brings the end of a long coinage history that started with 'phootie cowries'.
India must offer the rest of the world sizable amounts of safe, readily available, and convertible assets that could be used as collateral in financial markets.
Union minister Piyush Goyal and UAE's Thani bin Ahmed Al Zeyoudi conclude 1st session of India-UAE Joint Committee on Comprehensive Economic Partnership Agreement.
While Rajya Sabha MP Sushil Modi urged central government to discontinue ₹2000 notes, fellow BJP MP Nishikant Dubey defended demonetisation in Lower House.
The Congress has promised Rs 50,000 assistance to each woman but as we've seen in many recent elections, voters seem to be conscious of the proverb: 'A bird in hand is worth two in the bush.'
Fears that an escalation of the conflict could heighten a fuel squeeze & endanger the economy unnerved traders, with NYT reporting Iran stopped negotiating a truce with the US.
French newspaper La Tribune earlier last week indicated that UAE withdrew from deal to fund EUR 3.5 billion. India is looking to order 114 new Rafales, which could include the F5.
China patiently invested capital, skill and technology in coal gasification. Unlike it, we won’t move from words to action. As crude prices decline, we lose interest.
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