While status quo on rates was expected, there was difference of opinion on stance, which was also left unchanged to focus on withdrawal of accommodation to ensure inflation aligns with 4% target.
RBI has hiked interest rates by 250 basis points since May 2022 to combat inflation. Study by central bank says growth might have been ‘sacrificed’ by 65 basis points due to this.
Factors like unfavourable weather, uncertainty over oil prices, demand from China’s re-opening & intensification of geo-political conflicts could pose upside risks to inflation outlook.
The finance ministry, in its monthly economic review, said the reason was partly due to challenges in the country's external sector as well as weather-related uncertainties
The Australian govt will unveil the draft legislation for consultation later this year and the bill will be introduced into parliament by the end of this year.
With bad loans shrinking & capital buffers stronger, urban co-op banks’ new umbrella body NUCFDC is now prioritising rollout of digital transformation.
If deal goes through, Greece will be 2nd foreign country to procure vehicle. Morocco was first; TATA Group has set up manufacturing unit there with minimum 30 percent indigenous content.
Many of you might think I got something so wrong in National Interest pieces written this year. I might disagree! But some deserve a Mea Culpa. I’d deal with the most recent this week.
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