By the end of September 2022, creditors, mainly banks and financial institutions, had received 2.43 billion rupees under resolution plans approved by the National Company Law Tribunal (NCLT) under the Insolvency and Bankruptcy Code (IBC). This is in contrast to the total amount of claims made by creditors, which total $7.91 lakh crore and have…
The Indian rupee lost 66 paise to 81.57 against the U.S. dollar in early trade, following the American dollar’s rise in the international market and a flat domestic equity market. On the strength of encouraging domestic macroeconomic data and falling crude oil prices, the rupee strengthened versus the U.S.dollar in the previous session. The local…
Retail and wholesale inflation decreased in October, according to official figures released on Monday, which is good news for both the government and the RBI. Consumer Price Index (CPI)-based retail inflation decreased to a three-month low of 6.77% in October from 7.41% in September. Based on the Wholesale Price Index (WPI), wholesale inflation decreased from…
On November 16, the governor of the Reserve Bank of India, Shaktikanta Das, called a meeting with the heads of a few public sector banks and private sector banks to examine the sustainability of the country’s strong credit growth and determine whether any risks exist in the loan portfolios of the banks in light of…
The dollar fell as a result of lower-than-expected inflation in the U.S., and the rupee strengthened by 100 paise to settle at 80.81 versus it. The widest opening disparity in over a decade was 110 paise greater than 80.71 when the currency was introduced. Before finishing at 80.81, 100 paise higher, according to Reuters, it…
The Reserve Bank of India (RBI) said that foreign exchange reserves increased by $531.1 billion for the week ending October 28—the largest weekly increase since September 2021. Experts speculate that the huge increase of $6.6 billion in India’s foreign exchange reserves may have been caused by the delivery of US dollars from the Reserve Bank…
The central bank should first try and bring down retail inflation to 6% – the upper band of its medium-term target – before modifying the pace of its rate increases Said C Rangarajan, the best-known economist and former governor of the Reserve Bank of India (RBI) Although the central bank does not set a specific…
Shaktikanta Das, governor of the Reserve Bank of India (RBI), aimed to soothe worries on Wednesday that the Monetary Policy Committee’s explanation to the government on a breach of the inflation target would not be made public. Das claimed that because this was sensitive material, the RBI was not authorized to reveal the contents, but…
The Reserve Bank of India, the pilot for the wholesale use of the digital rupee will start on Tuesday. The trial would involve using the digital rupee to settle secondary trades in government securities, which should improve the efficiency of the interbank market. Settlement in central bank money would lower transaction costs by avoiding the…
Chief Economic Advisor (CEA) V Anantha Nageswaran stated on Monday that India’s economic growth in the upcoming fiscal will probably surpass the International Monetary Fund’s (IMF) prediction of 6.1% because of increased capital formation. In addition, the CEA emphasized the necessity for fiscal consolidation in the Asia-Pacific area in light of the finance ministry’s ongoing…
