India buys more than two-thirds of its oil, mostly from the Middle East, which means if crude prices stay up, RBI may not be able to deliver more than 25 basis points of cuts.
Iran foreign minister Mohammad Javad Zarif arrived in New Delhi Tuesday, less than two weeks after the US ended the exemptions from sanctions granted to India to import oil from Iran.
US has withdrawn waivers on importing oil from Iran. India says it's studying impact of US decision, but will be difficult for it to stop all imports from Iran.
To avoid sanctions, India will have to reduce oil imports from Iran & cancel a planned $6 billion purchase of S-400 anti-aircraft missiles from Russia.
Cooperation Ministry takes a step towards financial inclusion with Sahkar DigiPay and Sahkar DigiLoan. They will enable faster and seamless access to financial services in small towns.
Bihar is blessed with a land more fertile for revolutions than any in India. Why has it fallen so far behind then? Constant obsession with politics is at the root of its destruction.
At some stage, the RBI will feel the need to raise rates, to protect the rupee.