Introduction of a digital currency is expected to bring down usage of cash in the economy, while minimising damage to public from usage of private currencies.
R. Gandhi, an ex-deputy governor, said the RBI and the Monetary Policy Committee expect the govt’s borrowing program to go through smoothly without disturbing the yield curve.
The RBI Governor said that the central bank will soon be coming out with the first financial inclusion index, which will assess progress in terms of access, usage and quality.
The central bank made the decision after Mastercard failed to comply with data storage norms. RBI also noted the supervisory action will not impact existing customers.
The Centre has asked the RBI to keep retail inflation at 4% with a margin of 2% on either side. The Consumer Price Index remained above the RBI's comfort level for the 2nd month in a row.
RBI data shows loans to companies and individuals have been growing at a subdued 5.5%-6% in recent months, which is half the pace seen before the pandemic struck.
Retail inflation crossed outside RBI's 2%-6% comfort zone recently. Surging oil prices are adding fuel to the fire given the country’s dependence on imports.
Three years into the war, Europe’s sanctions regime now resembles a policy of managed hypocrisy: Moral rhetoric for public consumption, exemptions for industrial preservation.
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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