Manmohan Singh’s far reaching reforms that made India a fastest growing economy
India has lost a towering figure in the Indian economic landscape, former Prime Minister of India, Dr Manmohan Singh.
India has lost a towering figure in the Indian economic landscape, former Prime Minister of India, Dr Manmohan Singh.
The global economy remained resilient in the first half of 2024, with declining inflation supporting household spending, it said in its October Bulletin.
Reserve Bank of India (RBI) Governor Shaktikanta Das at the Monetary Policy Committee (MPC) meeting on Friday announced the policy rate unchanged at 6.5 per cent.
“The path-breaking structural reforms, such as the enactment of the Insolvency and Bankruptcy Code (IBC) and the adoption of Flexible Inflation Targeting in the recent years, have helped us to deal with the challenges in the banking system and the task of maintaining price stability more effectively,” he said.
In the throes of economic dynamism, India finds itself at the intersection of contrasting forces, with its annual retail inflation surging to a four-month high in December.
As per the guidelines laid down by the Reserve Bank of India (RBI), all the banks will remain closed on January 1 on account of New Year's Day, Sundays and second and fourth Saturdays of the month.
India's economic growth slowed to a six-year low of 4.5 percent in the July-September quarter. With inflation rising, fears of stagflation, a fall in aggregate demand accompanied by rising inflation, have resurfaced.
It is the responsibility of the Reserve Bank of India and the government to fully protect the depositors and to ensure the immediate refund of the entire money that had been deposited. The RBI has never cautioned the people against depositing money in the Urban Cooperative Banks. So, it has the duty to go to their rescue when the UCB or the bank it regulates fails.
With this step, the federal bank is aiming to promote digital payments among the bank account holders.
Referring to the article published online portal—ZDNet on Tuesday, the RBI asked banks to secure their customers’ information.
