India central bank

RBI bumper Rs 3.5 trillion payout to help offset weak revenues, analysts say

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RBI bumper Rs 3.5 trillion payout to help offset weak revenues, analysts say

India’s central bank is expected to pay a record dividend to the government, offsetting shortfall in tax revenues due to slow growth and helping meet any emergency spending needs, economists said.Kotak Mahindra Bank Ltd. estimates the Reserve Bank of India to transfer as much as 3.5 trillion rupees ($41.4 billion) to the government while IDFC … Read more

RBI must sacrifice inflation aim to aid growth, says ex-Governor C Rangarajan

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RBI must sacrifice inflation aim to aid growth, says ex-Governor C Rangarajan

By Jaiveer Shekhawat India’s monetary policy makers need to support economic growth even at the cost of their inflation-fighting credentials, as tackling the pandemic situation requires extraordinary measures, a former central bank governor said. The federal government’s large borrowing plan and the Reserve Bank of India’s willingness to support it are bound to fan inflation, … Read more