These reserves have declined to $110 billion from a peak of $642 billion in September last year, largely due to the fall in the value of holdings in dollars & other currencies.
RBI's monetary policy committee may become more data-dependant in deciding on the key interest rate with inflation expected to start easing, minutes of the latest meeting suggested.
In minutes of its September meeting, RBI Governor Shaktikanta Das wrote the MPC needs to remain 'watchful and nimble', based on incoming data and evolving conditions.
CBDCs have the potential to lead to greater financial inclusion, but a concept note issued by the Reserve Bank of India also rightly places emphasis on consumer protection.
RBI's projections in the Monetary Policy Report are based on its economic model but extreme weather conditions have made food price volatility hard to predict, said economists.
Banks will have to ascertain the foreign currency exposure (FCE) of all entities at least annually, the RBI said, adding the revised rules will be effective from 1 January, 2023.
Expectations of growth must be tempered, and with different indicators painting different pictures, World Bank's 6.5% full year growth forecast is more likely than RBI's 7%.
The US House has effectively drawn a line in the sand and approved the release of the Epstein files despite President Trump's efforts to stop it from happening.
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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