Central banks can intervene in forex market to influence exchange rate. Analysis by ThePrint shows RBI has been doing this for months, but last week saw rupee fall sharply nevertheless.
Unsecured loans have been a concern for RBI for a while now. Last year, it took steps to make it more expensive for banks, NBFCs to give them out in bid to deter such borrowing.
Change in stance signals possibility of rate cuts, potentially as early as December, depending on inflation trends & global economy. Growth projection for FY 2024-25 retained at 7.2%.
Israel-Iran conflict, along with outlook on inflation & growth in an uncertain global environment will be key areas of concerns for new members of the reconstituted committee.
US & Indian policy rates have seen similar trajectory. With Fed’s rate cuts, difference between interest rates in India & US may widen, leading to foreign capital inflow & stronger Rupee.
According to SBI research, inflation is projected to remain below or close to 5% in coming months. For the full FY25, it is likely to average to 4.6-4.7%.
The central bank last month issued a circular ordering banks to start, from next year, to keep aside larger buffers in relation to accounts connected to the internet, mobile or UPI.
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.
The Indian Right and Liberals all accepted the British conception of Hindu, Muslim and British India and the country's eventual decline. What they disagreed on was its cause.
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.
The Government of India has requested to buy up to 216 M982A1 Excalibur tactical projectiles too. Excalibur artillery munition was used in Op Sindoor against Pakistan.
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.
$26 billion was sufficient to purchase 100 Rafales. That would have bolstered the IAF against threats on both fronts.