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The decision is reminiscent of a shock move in 2016 when the Narenda Modi-led government had withdrawn 86% of the economy's currency in circulation overnight.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 'ghuspaithiya' narrative is being whipped up precisely when illegal immigration has actually diminished. Like most BJP-RSS ideas, it’s just an unimaginative Right-wing trope.
With non-leather products driving global footwear demand between 2020 and 2024, India’s global market share stood at 1.85% in 2024, says a NITI Aayog report.
ISKP, a sub-continental branch of the Islamic State, is said to have vowed to extend operations in Kashmir, on encouragement from Pakistan’s security establishment.
Pakistan’s army has been a rentier force available to a reasonable bidder. It has never come to the aid of any Muslims including Palestinians or the Gazans, except making noises here and there.
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