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.
Whether it was techies working in big firms or digital entrepreneurs looking to launch start-ups, they all seemingly had to be in these megacities despite rocketing housing costs, terrible pollution, being quarantined in tight places, and generally suffering a poor quality of life.
The RBI policy shall be formulated with the approval of the board and disseminated widely within the organisation.
"The Reserve Bank will undertake, as a part of its supervisory mechanism, annual assessments of customer service and grievance redressal in banks based on the data and information available through the Complaint Management System, and other sources and interactions," said an RBI notification.
The framework comprises enhanced disclosures on complaints to be made by the banks.
From a technical perspective, the rupee is holding below its resistance level of Rs 72.50 to a dollar as well as trend resistance.
