The Indian rupee tumbled the most in three months after RBI lowered the repurchase rate but refrained from shifting to a more easy stance on monetary policy.
Indian polls are unpredictable & ongoing trapeze act of simultaneous fiscal & monetary easing may lead to an accident if investors don’t like makeup of next government.
RBI has allowed banks to dip further into statutory liquidity reserves to help them meet their liquidity coverage ratio needs after Modi govt raised custom duties.
The last time this matter flared up was when Delhi Chief Minister Rekha Gupta, in a very similar directive in April, called for the relocation of stray dogs in the capital.
Finance ministry says the proposed revamp will focus on structural reforms, rate rationalisation & ease of living, & will be deliberated upon in the coming weeks.
The project is meant to be a ‘protective shield that will keep expanding’, the PM said. It is on the lines of the ‘Golden Dome’ announced by Trump, it is learnt.
Now that both IAF and PAF have made formal claims of having shot down the other’s aircraft in the 87-hour war in May, we can ask a larger question: do such numbers really matter?
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