2023-09-11 05:15:55 The Reserve Bank of India (RBI) is working with lenders to introduce new features to popularise the central bank digital currency (CBDC), the so-called e-rupee, according to six people familiar with the matter. Retail CBDC transactions are averaging close to 18,000 a day, way short of the RBI’s one million-a-day target by 2023 … Read more
2023-09-04 17:18:27 Indian states need to do more to reduce their debt levels and bring them closer to the Fiscal Responsibility and Budget Management goal of 20%, a recent study by economists at Bank of Baroda stated. The study suggested debt to GDP ratio at 25% as a short-term goal and the interest to revenue … Read more
2023-06-30 09:50:08 Rice and dal can turn into a disappointing combo for the Reserve Bank of India (RBI). Even as the RBI rate-setting panel had kept the benchmark lending rate at 6.5 per cent in June for the second consecutive time after a cumulative hike of 250 basis points since May last year as inflation … Read more
2023-06-25 09:46:46 Most large states have fallen behind their budgeted capex targets by a wide margin in FY23, which was pegged at Rs 7.4 lakh crore but could spend only Rs 5.71 lakh crore or 76.2 per cent only, according to an analysis. Only four states — Karnataka, Sikkim, Arunachal and Bihar — have over-achieved … Read more
2023-06-01 01:23:09 New Delhi: A stronger-than-expected fourth quarter lifted India’s growth to 7.2% in FY23, exceeding the 7% cited in the second advance estimates released in February, underscoring the country’s economic resilience in the face of multiple challenges. The gross domestic product (GDP) rose 6.1% in the March quarter from a year earlier, accelerating sequentially … Read more
2023-05-22 19:24:55 The withdrawal of ₹2,000 notes would not significantly impact consumption patterns, but certain high-ticket items, like gold, and high-value white goods, may experience a shot in the arm temporarily, economists told ET. Given the comfortable timelines of exchange and clear messaging from the government, the macro impact would be ephemeral and marginal, they … Read more