RBI said it stood ready to act against inflation if conditions warranted, with Governor Shaktikanta Das saying the decision to pause was 'for this meeting only', signalling further rate hikes were still possible.
RBI is expected to raise its benchmark rate for the 7th consecutive meeting & leave the door open for more increases to bring inflation back within its target range, economists said.
India's forex reserves rose for a second week, increasing by $5.98 billion & stood at its highest since early July, according to RBI's statistical supplement. The rupee ended at 82.16 Friday.
At conference held by FEDAI on Sunday, M. Rajeshwar Rao said if central bank’s efforts towards rupee-invoicing bear fruit, local exporters and importers will not need to hedge.
RBI said that cryptocurrencies are akin to a Ponzi scheme. Extending India's money laundering rules will help monitor transfer of these assets beyond country's borders.
Hu Xijin, former editor-in-chief of the ‘Global Times’, described Takaichi’s behaviour as political sleepwalking and said that Japanese leaders must become more self-aware.
While global corporations setting up GCCs in India continue to express confidence in availability of skilled AI engineers, the panel argued that India’s real challenge lies elsewhere.
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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