Although core inflation in India remains elevated, steady easing over the last few months indicates that monetary policy transmission is happening, Shaktikanta Das said.
Interest rate hikes by the US Fed were also at the root of Silicon Valley Bank collapse in March. RBI Governor had last week said the Indian banking sector is resilient & healthy.
Shaktikanta Das' comments come as the collapse of 3 mid-sized US banks in March led to turbulence in the US & European banking sectors, igniting fears of a spillover in India.
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.
Meghnad’s interest went much beyond economics and politics. This is reflected in his writing, particularly after his retirement as a full-time LSE professor in 2003.
In the latest budget, the FDI limit was increased to 100 percent, but most foreign companies are not buying such large stakes in the Indian insurance sector.
As Narendra Modi becomes India’s second-longest consecutively serving Prime Minister, we look at how he compares with Indira Gandhi across four key dimensions.
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