RBI’s move comes as central banks in emerging markets step up action to counter capital outflows and weaker currencies that threaten to drive up inflation.
The former RBI governor said developing economies were in a stronger position to absorb interest rate hikes by the US Fed than during the so-called taper tantrum in 2013.
Growth accelerated to 7.7% in the quarter ending March, making India the fastest growing major economy. Amid growing calls to pull the rate trigger, this might see the RBI increase interest rates as early as next week.
Hidden bad debt is a blow to the sector given that half of India’s 22 government-controlled banks are already under the Reserve Bank of India’s strict Prompt Corrective Action program that restricts lending and expansion.
India’s most trusted regulatory body, the Reserve Bank of India, has given the courts two opportunities to question its manner of taking significant decisions in the last two years.
Many offices in Telangana have asked their employees to work from home because of heavy rainfall, but it has become impossible due to the internet outages.
The new law, which the government has framed as a moral duty, forced major platforms like Dream11 & Zupee to shut operations, wiping out hundreds of crores in market capitalisation.
Joint Doctrine for Special Forces Operations, released Wednesday, also outlines plans for the future expansion of AFSOD and the creation of Joint Service Training Institutes.
Putin sees this as a victory. Europeans have decided to deal with Trump on his terms for the sake of the larger Western alliance. We look at the lessons for us in India.
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