Monetary Policy Committee Friday kept the repo rate unchanged at 6.50% for an eighth straight policy meeting, in a continued attempt towards bringing down inflation to 4% target.
In its annual report, RBI also estimated retail inflation to average at 4.5% in FY25, higher than its target of 4%. It added that climate shocks add uncertainty to inflation outlook.
The Ex-RBI governor talks about whether the Indian economy is growing fast enough, India's position on a global stage and his years working for the UPA and NDA.
Actual foreign direct investment is the difference between how much companies put in and how much they take out. While the former is falling, the latter is rising sharply.
Retail inflation averaged scorching 10% in that period. Between March 2010 & October 2011, central bank raised repo rate 13 times, from 4.75% to 8.5% per annum.
RBI Wednesday banned Kotak Mahindra Bank from taking on new customers through digital channels & from issuing new credit cards. Violations had to do with strength of bank’s IT infra.
While alignment with the inflation target is gradually occurring, incoming data will provide greater clarity and confidence on the disinflation path, the RBI said.
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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