India’s latest inflation data has landed like a cool breeze in the sweltering summer of economic uncertainty.
With the MoU coming into play, the entities will cooperate with each other in the areas of mutual interest where they will share relevant intelligence and information, available in their respective databases.
The softening of CPI inflation will boost India’s private final consumption expenditure, the largest component of the GDP, industry leaders said on Tuesday.
India's central bank has once again stepped in with a measured response to the growing economic uncertainty by cutting the repo rate by 25 basis points, bringing it down to 6 per cent.
With the RBI’s 50 basis points cumulative reduction in policy rates since February this year, transmission of the rate cut by banks is expected in the coming quarters, according to an SBI report.
Innovations in technology have changed the Indian payment system over the years and the Indian cash-led economy now has changed to a smartphone-led payment economy, said SBI Research in its latest Ecowrap report.
The RBI Governor, speaking at the FIBAC 2022 Conference on Wednesday, said the central bank's focus is on promoting interoperability, cross-border linkages, and innovation.
The Reserve Bank of India (RBI) on Monday said it will commence pilot launches of digital rupee (e-rupee) for specific use cases from November 1.
"The 598th meeting of the central board was held under the chairmanship of Governor Shaktikanta Das," the RBI said in a statement.
India's foreign exchange reserves on Friday fell by $3.85 billion to $524.52 billion for the week ending on October 21, according to the latest data released by the Reserve Bank of India (RBI).
