The real GDP growth for the first quarter of FY24 will come at 8.1 per cent with an upward bias and the Reserve Bank of India's 6.5 per cent estimate can also be exceeded, economists at the country's largest lender SBI said.
The governor of the RBI stated that the Indian economy had experienced rapid growth and had gradually integrated into the global economy over time.
India and the UAE already implemented a free trade agreement (FTA) in May last year to give a boost to bilateral trade and economic ties.
Gene Fang, Associate Managing Director of Moody's Investors Service, stated in an interview with PTI that India's general government debt will be approximately 81.8% of GDP in 2022 and 23 and that the country will have low debt affordability.
RBI Grade B Notification 2023: A total of 291 vacancies are to be filled through direct recruitment for the post of Officers in Grade ‘B’.
RBI on inflation: India's headline inflation has come down during March-April 2023 to 4.7 per cent in April, the lowest since November 2021.
RBI Governor Shaktikanta Das said people should not speculate over the withdrawal or re-introduction of currency notes.
Till now, this avenue for dud asset resolutions was available only with scheduled commercial banks and select non-bank finance companies, Das said, adding that comprehensive guidelines on the same will be released soon.
Stock markets: The 30-share BSE Sensex climbed 174.2 points to 63,317.16 in morning trade after the monetary policy announcement. The NSE Nifty advanced 49.2 points to 18,775.60.
RBI Governor Shaktikanta Das said that MPC has decided to keep the policy repo rate unchanged at 6.5 per cent.
Presently, the dashboard is intended for internal use in the RBI, it said, adding it will further facilitate greater financial inclusion through a multi-stakeholder approach.
RBI's annual report stated that slowing global growth, protracted geopolitical tensions and a possible upsurge in financial market volatility following new stress events in the global financial system could pose downside risks to growth.
The high court maintained it cannot be said that the government's decision is perverse or arbitrary or it encourages black money, money laundering, profiteering or abets corruption.
Delhi High Court dismisses plea by Ashwini Upadhyay against exchange of Rs 2000 notes without filling forms or showing id proof.
After the decision to withdraw the currency, almost 90 per cent of the cash received is of Rs 2,000 notes, the Punjab Petroleum Dealers Association said on Thursday.
Shaktikanta Das stated that the retail inflation data for this month, which are scheduled to be released on June 12, "could possibly be lower."
Delhi HC on Rs 2,000 notes: The bench of Justices Satish Chander Sharma and Subramonium Prasad said the court will pass the appropriate order while keeping the order reserved.
The RBI on Friday made a surprise announcement of withdrawal of Rs 2,000 currency notes, but gave the public time till September 30 to either deposit the Rs 2,000 notes in accounts or exchange them at banks.
From today, 2000 notes can be changed in banks. 10 notes can be changed at a time in banks. The rest of the notes can also be deposited in the account.
The BJP's spin that the Rs 2000 notes are being withdrawn to unearth black money stands demolished. Ordinary people do not have Rs 2000 notes, said P Chidambaram.
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