The repo rate cut should be interpreted as a pre-emptive measure to create a buffer, ensuring that the economy enters the forthcoming year with adequate liquidity.
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.
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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