Later this week, on Friday, too, the markets will be closed for Good Friday. Again, on April 14, markets will be shut for trade on account of Dr. Baba Saheb Ambedkar Jayanti.
In a letter to all agency banks on Tuesday, the RBI said that all government transactions done by agency banks for 2022-23 must be accounted for within the same financial year.
With country's focus riveted on Adani, none noticed an important development. India's Forex reserves hit an 11-week low, rupee traded in a thin range of 82.56 to 82.89 and exports declined.
With credit disbursals picking up and the RBI increasing its lending rates to the banks banks and others are now offering higher interest rates on fixed deposits.
An inflation-targeting central bank like ours should have a credible inflation measure, and like every other key fiscal or monetary parameter, this too needs a check.
According to Chowdhury, the fall in retail inflation has been due to the quick drop in vegetable prices which is a seasonal phenomenon apart from the continuing softness in edible oil prices.