RBI data shows the high-denomination note, meant to have safeguards against counterfeiting, was counterfeited. Brought in as part of anti-black money measure, it's now 'used to hoard cash'.
The decision is reminiscent of a shock move in 2016 when the Narenda Modi-led government had withdrawn 86% of the economy's currency in circulation overnight.
The weighted average rate for TREPS, a collateralised form of borrowing, has largely remained around the MSF rate, currently at 6.75%. The RBI's repo rate is at 6.50%.
Food inflation, which accounts for nearly half of the overall consumer price basket, moderated further to 3.84% compared with 4.79% in the previous month.
The country's central bank is expected to set a disclosure framework on climate-related financial risks and guidance on climate scenario analysis and stress testing shortly.
Interest rate hikes by the US Fed were also at the root of Silicon Valley Bank collapse in March. RBI Governor had last week said the Indian banking sector is resilient & healthy.
Shaktikanta Das' comments come as the collapse of 3 mid-sized US banks in March led to turbulence in the US & European banking sectors, igniting fears of a spillover in India.
The Indian planning system did not encourage individuals based on ‘what they knew’, but on ‘whom they knew’. Many left for countries that recognised their talent.
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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