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.
While bond yields tend to fall amid low inflation & interest rate cuts, market experts say they’ve been rising due to concerns over tax collections, fiscal deficit & potential impact of US tariffs.
It is one of the most advanced long-range air defence and anti-missile radars. It has been acquired under an about USD 145-million deal signed in 2020.
In its toughest time in decades because of floods, Punjab would’ve expected PM Modi to visit. If he has the time for a Bihar tour, why not a short visit to next-door Punjab?
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