Hikes this year to combat inflation will only lift net interest margins. The agency also added that banks' profitability would be reduced by losses on government securities holdings.
The country's reserves were $545.65 billion at the end of the previous week. Reserves have now fallen for eight straight weeks and are near their lowest levels since August 2020.
RBI data shows that India's CAD was around $23.90 billion in the first quarter of FY-22/23. Following the rising prices of commodities globally, the trade deficit also has been affected.
With US Fed hiking rates, RBI might be pushed to increase its own rates to slow simultaneous fall of rupee & India's forex reserves. But this could also hurt economic growth.
Central govt's fiscal deficit touched 21% of full-year target in April-June quarter. But going forward, buoyant tax collections could help manage higher than budgeted expenditure.
Data cited by Telangana govt says criminal cases related to fraudulent loan apps increased by more than 1,300% to 900 in 2022, from 61 in 2021, with multiple suicides attributed to them as well.
The central bank also raised its inflation forecast for the year ending March to 6.7% from 5.7% seen previously. The RBI targets inflation between 2%-6%.
Former Bangladesh Prime Minister Sheikh Hasina has, in a sense, tasted her own medicine. The International Crimes Tribunal, the special court she instituted for...
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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