With India;s inflation easing all eyes are now on RBI
The Reserve Bank of India (RBI) in its Monetary Policy Committee (MPC) meeting has further hiked the repo rate – the rate at which banks borrow from the central bank– by 50 basis points to 5.90 per cent with an eye on curbing inflation. This is the fourth straight increase of policy rate by the RBI.
The central bank also reduced India’s GDP growth forecast for the current financial year 7.0 per cent from the earlier projected 7.2 per cent. The second quarter growth is projected at 6.3 per cent while the third quarter at 4.6 per cent and the fourth at 4.6 per cent. India’s GDP growth in the April to June quarter was at 13.5 per cent — the fastest annual expansion in a year.
The RBI has raised rates by a total of 190 basis points since May when it unexpectedly held its first unscheduled meeting.
Also read: India’s GDP growth shoots up to 13.5% in April-June, highest in a year
Jamil Maqsood, the President of the Foreign Affairs Committee of the United Kashmir People's National…
The 6th meeting of the ASEAN-India Trade in Goods Agreement (AITIGA) Joint Committee concluded in…
The US Department of Homeland Security (DHS), on behalf of the Forced Labor Enforcement Task…
A delegation from the Tibetan Parliament-in-Exile (TPiE), led by Speaker Khenpo Sonam Tenphel and accompanied…
On the sidelines of the 2nd India-CARICOM Summit, leaders of the member countries witnessed a…
India's economic growth story has witnessed a remarkable surge in investment spending, with over half…