NEW DELHI: The Reserve Bank has rejigged portfolios of its deputy governors, as the extended term of Deputy Governor Michael Debabrata Patra ended on Tuesday. The key monetary policy department under Michael Debabrata Patra has gone to senior most Deputy Governor M Rajeshwar Rao, the RBI said in a statement. The government, last year, extended…
Deposit rates have reached their periodic maximum, and special deposit schemes are unlikely to be modified when this fiscal year concludes. (AI image) Bank fixed deposits: Banks are expected to maintain current deposit rates as credit expansion and the recent CRR (Cash Reserve Ratio) reduction provide adequate liquidity for lending requirements through FY25.Banking officials indicate…
The slump in growth has also sharpened the debate over whether the central bank is doing enough to support the world’s fastest-growing major economy. One of India’s worst GDP growth misses in recent memory is suddenly adding more pressure on central bank Governor Shaktikanta Das, who still hasn’t gotten an extension even though his term…
