Perception that RBI was cutting dollar purchases was accentuated by comment from policy makers that appreciating rupee had helped tackle imported inflation.
Speaking in the Rajya Sabha, Nirmala Sitharaman said the amendment is to protect depositors' interest and is only for cooperative societies engaged in banking activities.
Loan losses from the pandemic may be too huge for the government to pay, says a new paper authored by the former RBI governor and former RBI deputy governor.
Modi govt had issued new Rs 2,000 and Rs 500 banknotes after cancelling the legal tender of Rs 1,000 and Rs 500 notes (old series). Printing of Rs 2,000 notes has now stopped.
Finance Minister Nirmala Sitharaman said the Bill would protect depositors, but some opposition parties said the legislation would infringe on state powers.
RBI has to answer to Parliament if it misses the inflation target for three quarters. Inflation has stayed above 6% for two quarters now, with a third likely.
Central govt has argued that states have more headroom to borrow, but estimates suggest that states’ borrowing costs are at least 0.5 percentage points higher.
Two questions are pertinent: Why does the Trump administration keep making the same mistakes on the peace proposal? And what does a hurried peace plan mean on the ground?
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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