The other emerging market currencies experienced a more pronounced depreciation against the dollar than the rupee in 2024, resulting in a relative appreciation effect.
The move comes as an effort by the central bank to reduce cash reserve ratio and review bank liquidity. India's banking system liquidity surplus stood at Rs 2.44 tn as of 23 June.
RBI retained its projection of 6.5% growth, but highlighted global uncertainty, particularly due to renewed tariffs from July & volatility in commodity prices as risks to growth outlook.
This comes amid looming uncertainties as Trump’s tariff regime kicks in. RBI also revised its growth estimates for FY25-26, lowering GDP estimates by 20 points to 6.5% from 6.7%.
RBI has kept repo rate high & unchanged at 6.5% since February 2023 in an attempt to slow credit growth & thereby lower inflation. This has not come to pass, ThePrint’s analysis shows.
Shaktikanta Das said the central bank was not ‘behind the curve’ in terms of monetary policy & would base its decisions on incoming data and the outlook on inflation.
Four out of six members vote to maintain repo rate while two vote for 25 basis point reduction. RBI governor cites rise in headline inflation in June, primarily driven by food component.
Repo rate was raised by 250 basis points between May 2022 and February 2023. Robust growth to provide space for monetary policy to remain focused on bringing inflation down to 4% target.
The 'ghuspaithiya' narrative is being whipped up precisely when illegal immigration has actually diminished. Like most BJP-RSS ideas, it’s just an unimaginative Right-wing trope.
With non-leather products driving global footwear demand between 2020 and 2024, India’s global market share stood at 1.85% in 2024, says a NITI Aayog report.
ISKP, a sub-continental branch of the Islamic State, is said to have vowed to extend operations in Kashmir, on encouragement from Pakistan’s security establishment.
Pakistan’s army has been a rentier force available to a reasonable bidder. It has never come to the aid of any Muslims including Palestinians or the Gazans, except making noises here and there.
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