India’s growth outlook is supported by robust domestic engines: RBI
The global economy remained resilient in the first half of 2024, with declining inflation supporting household spending, it said in its October Bulletin.
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.
Intolerance of economic crimes is not unique to India; Bernard Madoff the mastermind of the largest known Ponzi scheme, worth an estimated $18 billion, was sentenced by a US court to 150 years in prison, making people wonder if financial fraud was worse than violent crimes like rape and murder.
Deputy Governor of RBI has warned that greater challenges will emerge as the markets became more developed and interconnected
In Asian markets, Japan's Nikkei was down 316 points, Hong Kong's Hang Seng declines 123 points while China's Shanghai surged 18 points on Monday morning.
The Prime Minister has given a vision that the nation will strive to ensure that the G20 acts as a global “prime mover” to envision new ideas and accelerate collective action over the next one year.
E-currency will be issued by the RBI in same denominations as notes & coins.
The digital currency in the form of tokens issued by the RBI are equivalent to legal paper and coin cash and can be used to represent the retail digital rupee.
