For India, this is not an opportunity for schadenfreude but rather a reflection of shared responsibility. It's what happens when the governance framework underpinning economic growth is weakened.
The move comes as an effort by the central bank to reduce cash reserve ratio and review bank liquidity. India's banking system liquidity surplus stood at Rs 2.44 tn as of 23 June.
RBI lifted ceiling on interchange fee on ATM withdrawals through circular issued Friday. Interchange fee is amount one bank pays another to facilitate ATM transactions.
RBI Monetary Policy Committee member Ram Singh says Budget 2025 provides opportunity for govt to show it is doing its part to address growth-inflation dynamics.
In its first advance estimates for the current financial year, govt predicts growth to be slower than RBI’s prediction of 6.6% & much lower than 8.2% seen in FY24.
While gross FDI flows have stagnated over past few years, repatriation & disinvestment by foreign firms has surged. Indian companies, too, are investing much more abroad.
Narrowing of the wedge between credit and deposit growth, and the possible easing of the monetary policy, could weigh on the net interest margin of banks in 2025.
The recent resignations of its seniormost judges are among the most pointed institutional protests Pakistan has witnessed since the lawyers’ movement of the late 2000s.
Without a Congress revival, there can be no challenge to the BJP pan-nationally. Modi’s party is growing, and almost entirely at the cost of the Congress.
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