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.
RBI Governor Das further said the central bank will seek to gradually move towards achieving the 4% target, but the possibility of a sustained increase in inflation is unlikely.
While speaking at an event, RBI governor said the fine-tuning operations was done so that liquid conditions in the system evolve in a balanced and evenly distributed manner.
MPC external member Jayanth R Varma voted against RBI's accommodative stance and argued for raising money market rates towards repo rate of 4 % from currently 3.35%.
While announcing the third bi-monthly monetary policy review Friday, RBI Governor Shaktikanta Das said reduction on lending rate has reduced the burden on households.
Until now, units operating even in recognised industrial areas needed a separate factory licence. The move is expected to especially give a boost to small and medium enterprises.
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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