Union Govt’s MyGov Twitter handle and State Bank of India together put to rest some concerns that arose following RBI’s Friday announcement to discontinue the Rs 2,000 note.
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The decision is reminiscent of a shock move in 2016 when the Narenda Modi-led government had withdrawn 86% of the economy's currency in circulation overnight.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.
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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