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Mumbai: Cryptocurrency is privately created and it is a very big threat to the country’s macroeconomic and financial stability, RBI Governor Shaktikanta Das said on Thursday. Replying to a question, Das said, “Cryptocurrency or currency which have currency like character, they will undermine the RBI ability to deal with issues of financial stability.” RBI Governor […]
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Besides, inflation projection for 2021-22 is retained at 5.3 per cent, with Q4FY22 at 5.7 per cent on account of unfavourable base effects that are expected to ease subsequently.
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This is the tenth time in a row that the Monetary Policy Committee (MPC) headed by RBI Governor Shaktikanta Das has maintained the status quo.
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New Delhi: Cryptocurrencies like Bitcoin or Ethereum will never become a legal tender, Finance Secretary TV Somanathan told ANI adding only the digital rupee issued by the Reserve Bank of India (RBI) would be the legal tender. Speaking to ANI, Finance Secretary said, “Digital rupee will be backed by RBI which will never default. Money […]
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New Delhi: Union Finance Minister Nirmala Sitharaman on Tuesday announced the launch of India’s own digital currency by the RBI next year that will be based on Blockchain technology, while the much-expected Cryptocurrency Bill is yet to see the light of the day. With this, India will join certain countries that have their own central […]
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By B Yerram Raju Omicron is unsympathetic to the small man and farmers are no exception. In the wake of the withdrawal of the three farm laws, the Finance Minister has challenges to provide resources to the farm sector. Investment of Rs 1 lakh crore was unlocked for agriculture in 2021, although the extent of, […]
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New Delhi: The wholesale price-based inflation bucked the 4-month rising trend in December 2021, and eased to 13.56 per cent, even though food prices hardened, and experts believe the RBI is expected to hold rates steady in its monetary policy next month. WPI inflation has remained in double digits for the ninth consecutive month beginning April. […]
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Mumbai: The country’s monetary policy is, by design, financially inclusive and this strategy will result in policy effectiveness and welfare maximisation going ahead, Reserve Bank of India’s Deputy Governor Michael D Patra said on Friday. Financial inclusion appears to have gone up, with the level of the RBI’s financial inclusion index rising from 49.9 in […]
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New Delhi: Country’s largest lender State Bank of India (SBI) has increased benchmark lending rate or base rate by 0.1 per cent, a move that may be followed by other lenders. With the increase the revised base rate is 7.55 per cent, as per the information posted on SBI’s website. The new rate is effective […]
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Kolkata: Former Reserve Bank of India Governor Duvvuri Subbarao has said the central bank could lose control over money supply and inflation management if cryptocurrency is allowed in the country. Speaking at a webinar organised by the National Stock Exchange (NSE) and New York University (NYU) Stern School of Business, Rao also said India’s case […]
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New Delhi: With an aim to increase the penetration of digital payments, the Reserve Bank of India has decided to develop the UPI platform for feature phones. India has one of the largest mobile phone users base, with around 118 crore users. A large part of them use feature phones. “In the first cohort of […]
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By Dr K Srinivasa Rao Innovations in financial intermediation led by fintechs and virtual banks have changed the landscape of lending to retailers and small and medium entrepreneurs. Hyperactive digital lending by new-age tech entities has begun to pose a challenge to banks and regulators. Falling in line with the competitors, banks have also partially […]
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This is the eighth time in a row that the Monetary Policy Committee (MPC) headed by RBI Governor Shaktikanta Das has maintained status quo.
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When startups can raise billions without any difficulty, why is infra financing proving to be a puzzle over decades?
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By R Gandhi Cryptocurrencies, or virtual currencies, have caught the fancy of over one-and-a-half crore Indians as per claims of cryptocurrency exchanges. The trading volume in these exchanges has been growing smartly. This is despite the regulatory uncertainty, looming legislative ban and reluctance of banks to provide banking services surrounding cryptocurrencies in India. Even during […]
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Hyderabad: Just seven years into existence, Telangana, rising from being a parched poverty-ridden region, has emerged as the fourth largest contributor State to the country’s economy, says the Reserve Bank of India’s Handbook of Statistics on the Indian Economy 2020-21. The report said the Net State Value Added (NSVA) by Telangana at current prices to […]
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Migration tragedy and economic slowdown have highlighted the need for replicating MGNREGS in urban areas
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The differentiating aspect of the current monetary policy review is the convincing optimism that can propel market sentiments
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In the previous Monetary Policy Committee (MPC) meeting in June, the RBI's CPI inflation projection for the current fiscal stood at 5.1 per cent.
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This is the seventh time in a row that the Monetary Policy Committee (MPC) headed by RBI Governor Shaktikanta Das has maintained status quo.
