India’s foreign exchange reserves fell by nearly $2 billion to an almost six-month low of $652.87 billion as of December 13, data from the Reserve Bank of India (RBI) showed on Friday. The reserves had declined by $3.2 billion in the week of December 6, and have declined by $52 billion from the record high…
Asked if he plans to return to public office after stepping down from the RBI, Das said: “I will think about it.” As Shaktikanta Das finishes up his tenure as India’s central bank governor, handing over the reins to a career bureaucrat, many have praised his performance as a relative outsider who leaned on diplomacy…
Revenue secretary Sanjay Malhotra (File photo) NEW DELHI: Government on Monday sprung a surprise by naming revenue secretary Sanjay Malhotra, 56, as the 26th Reserve Bank of India governor to replace Shaktikanta Das, whose six-year stint on Mumbai’s Mint Road ends on Tuesday.After weeks of suspense, the appointments committee of cabinet zeroed in on Malhotra…
India’s forex reserves rise to $658.09 billion NEW DELHI: India’s foreign exchange reserves increased by $1.51 billion to $658.09 billion in the week ending November 29, the Reserve Bank of India (RBI) reported on Friday. This marks the first rise in nine weeks, recovering from a five-month low.The reserves had previously declined by a cumulative…
ATMs are equipped with a mechanism that automatically retrieves unattended currency notes. (AI image) ATM cash retraction new rules: The Reserve Bank of India has now partly reversed its January 2012 directive that had mandated disabling of cash retraction in ATMs. The original decision was taken to prevent fraudulent activities at ATMs.ATMs are equipped with…
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…
NEW DELHI: A panel with representatives from the Reserve Bank of India (RBI), central and state governments, and academia has been formed to update the base year for calculating Gross Domestic Product (GDP) to 2022-23 from 2011-12, the government informed Parliament on Monday. Minister of state for statistics & programme implementation, Rao Inderjit Singh, said…
In December 2024, banks will be closed for various occasions apart from every Sunday and second and fourth Saturdays. Bank Holidays December 2024: Banks will be closed for several days during December 2024 for various regional and national holidays. The Reserve Bank of India’s website provides detailed information about these holidays, which vary by state.In…
File photo: Former RBI governor Raghuram Rajan High public debt can’t be left to fester in the US and its peers in a world that is prone to more pandemics than before, former Reserve Bank of India governor Raghuram Rajan said.Speaking to reporters in Rome, the one-time chief economist of the International Monetary Fund warned…
India’s economic growth requires “far more affordable” bank interest rates, the finance minister said on Monday, adding New Delhi was committed to measures to ensure the economy remained on course. “At a time when we want industries to ramp up and build capacities, bank interest rates will have to be far more affordable,” the minister,…
