Panel set up in May 2022 has recommended ways in which RBI's regulated entities can improve customer service, including easing KYC norms & removing limits on UPI transactions.
According to the govt's first preliminary estimates released mid-May, April services exports stood at $30.36 billion, while services imports totalled $16.50 billion.
Deputy governor MK Jain sought banks to ensure their actions comply with intended purpose and principles of regulation and not just stick to literal or technical interpretation.
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.
During the year, RBI saw a gain of 1.03 trillion rupees from foreign exchange transactions, which allowed it to increase the size of its contingency fund, the report showed.
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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