While saying that higher interest rates affect growth more than inflation, the two members said raising rates further could result in 'unacceptably low' growth in 2023-24.
India, Singapore launch real-time cross-border linkage between respective payment systems, expected to boost existing annual retail payments & remittances worth $1 bn between the two.
Overall CPI inflation has been below 6% for last two months & growth is expected to slow in second half of FY23. But high core inflation could still result in marginal rate hike.
Findings are of relevance for RBI, which has followed inflation targeting policies since 2016 but had to write to govt in December 2022 explaining why inflation had overshot target.
Section 26(2) of Reserve Bank of India Act allows central govt to declare any series of bank notes of any denomination illegal tender after a recommendation from central board of RBI.
In a study published in RBI bulletin last month, the authors found that news articles can capture trends in various sectors of the economy, even before official statistics are out.
This is a step back from the directions it issued in 2020, when it allowed banks operating from the International Financial Services Centre Banking Units to trade in the NDF segment.
India's projects related to BIMSTEC, Look-East-Act-East and Indian Ocean Rim Association could suffer a setback, impacting trade with South Asia and the South-South Cooperation agenda.
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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