Currently serving as revenue secretary, Malhotra, a 1990 batch IAS officer of Rajasthan cadre, will take over following 10 December retirement of incumbent governor Shaktikanta Das.
India's microfinance sector has been facing challenges like over-borrowing & regional stress. Spandana Sphoorty, a 20-yr-old micro-credit company, reported a Rs 216 cr loss in Q2 FY25.
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.
A bad turn in Venezuela would raise the same questions that have dogged the unlawful US strikes against alleged drug boats in the Caribbean: Why now, and why at all?
The latest comment comes as New Delhi and Washington have yet to sign a trade agreement. India’s purchase of Russian oil has reduced, but Moscow remains top source for crude.
If deal goes through, Greece will be 2nd foreign country to procure vehicle. Morocco was first; TATA Group has set up manufacturing unit there with minimum 30 percent indigenous content.
Many of you might think I got something so wrong in National Interest pieces written this year. I might disagree! But some deserve a Mea Culpa. I’d deal with the most recent this week.
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