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.
Shaktikanta Das says strengthening of inflation impulses & persistence of adverse global price shocks poses upward risks to inflation trajectory presented in April MPC resolution.
The Reserve Bank's inflation projections, Das said, are 'robust' but contingent on downside and upside risks is associated with the movement of global crude oil prices.
The finance minister said that discussions with the RBI regarding the Central Bank Digital Currency were going on prior to the Budget announcement, and they are continuing.
FM Sitharaman, in her Budget speech, had announced that RBI will introduce Central Bank Digital Currency in next financial year to boost digital economy & currency management.
With the second term of three years, Das will head the RBI till December 2024. The decision was taken by the Appointments Committee of Cabinet headed by PM Narendra Modi.
Speaking at an event Wednesday, the RBI Governor said restoring the durability of private consumption, the mainstay of aggregate demand, will be 'crucial' in the post-pandemic future.
Making a jump from internal combustion engines to electric vehicles is the kind of romantic prospect that would appeal to India, which jumped from a shortage of landline phones to an abundance of smartphones.
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.
Another addition to military cooperation has been the Strategic Space Dialogue, inaugurated in Paris in 2023. Last month, India participated as an observer to France’s AsterX.
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