Resident Indians sent close $2 billion abroad in September under the Liberalised Remittances Scheme(LRS), touching a three year high which analysts speculate could be to buy cryptos. More than 60 per cent of the money has remitted is for travel abroad and studies, which again are at multi-year highs, RBI data indicates. Overall outward remittances … Read more
India plans to tighten regulation of cryptocurrencies to deter investors from holding them though the government is unlikely to follow through with an earlier plan to ban private digital coins, according to two sources familiar with the discussions. Instead, it could allow only those that have been pre-approved by the government to be listed and … Read more
So far, the Reserve Bank of India has kept the benchmark lending rate unchanged at a record low of 4.0%. But that may change soon. Synopsis Across-the-board inflationary pressures, record low interest rates, easy money all mean that in the near term, the impact has been muted. As central banks across the world look to … Read more
Indian economy is expected to grow by 10 per cent or more in the current fiscal, and 8 per cent plus in the next fiscal year, Niti Aayog Vice-Chairman Rajiv Kumar said on Tuesday. Addressing a book launch event, Kumar further said that seven years of the Modi government has laid a strong economic foundation … Read more
After the US treasury labeled India as a currency manipulator on and off, now IMF has also given a word of advice to the RBI on its intervention policy in the foreign exchange market. Lauding India’s policy efforts to push reserves and strengthen its external position, the multilateral agency has advised the central bank against … Read more
NEW DELHI: Perhaps the biggest takeaway for markets from the Reserve Bank of India’s monetary policy statement last week was that normalisation of the ultra-accommodative policies has started in the country. The central bank, aware of the risks of adding fresh liquidity to the banking system amid upside risks to inflation, paused the government security … Read more
The Reserve Bank of India has retained its growth forecast at 9.5% for FY22 while revising down its inflation forecast to 5.3% (from 5.7% earlier) given the lower than expected food inflation momentum. RBI’s in-house model expects it to ease further in FY’22-23 to 4.5-5.2%. But real GDP growth may be lower at 7.8% in … Read more
Reserve Bank of India (RBI) is regularly in touch with financial institutions to gauge any build up in stress whenever it is observed, deputy governor Mahesh Kumar Jain said in a post policy interaction with journalists. Jain was replying to a question on whether the RBI is comfortable with the quality of assets of the … Read more
The Reserve Bank of India (RBI) will open the fourth cohort under the Regulatory Sandbox (RS) on prevention and mitigation of financial frauds, governor Shaktikanta Das said. The central bank has so far introduced three cohorts. Six entities have successfully exited the first Cohort on ‘Retail Payments’ while under the second Cohort on ‘Cross Border … Read more
The Centre will borrow another Rs 5.03 lakh crore in the second half of the financial year, assuaging bond market concerns of large additional sovereign debt raising. The Reserve Bank of India Monday released the plan for government borrowing between October and March. In the first half, it had planned to borrow Rs 7.24 lakh … Read more