On September 23, the RBI had put restrictions on Punjab & Maharashtra Cooperative (PMC) Bank after it had found out financial irregularities, and under-reporting of loans given to real estate developer HDIL.
India's economy expanded by just 5% in the June quarter, its slowest pace since 2013. That has raised expectations the RBI will be forced to further downgrade its growth projection of 6.9% for the current fiscal year.
With inflation under control and growth rate declining, the RBI reduced the repo rate four times by 110 basis points (bps) to 5.40 per cent in 2019, with the last cut being an unconventional 35-bp reduction on August 7.
The Sub-Committee of the Financial Stability and Development Council (FSDC), which met here on Friday, discussed measures to strengthen the systems against frauds and revisit the framework for early warning signals. The meeting, chaired by RBI Governor Shaktikanta Das, also discussed measures to promote interest and competition in the stressed asset markets, enhancing the scope […]
Economic Affairs Secretary Shaktikanta Das on Sunday asked Amazon to desist from being flippant about Indian symbols and icons, cautioning it that “indifference will be at your own peril”. “Amazon, better behave. Desist from being flippant about Indian symbols & icons. Indifference will be at your own peril,” Das said in a tweet.
New Delhi, Feb 09 (ANI): Talking about the India’s economic growth, Secretary for Economic Affairs Shaktikanta Das said that there has been improvement in the numbers as the economy expectedly eased in the quarter through December. He added that it was quite satisfying and the direction of growth is that basically what reflects in the policies and reform measures of government. He added that industrial growth with special focus on manufacturing showed more positive results.
New Delhi, Jan 07 (ANI): Economic Affairs Secretary Shaktikanta Das on Thursday said the new normal in global economy is uncertainty. He said that China seems to be moving towards market linked pricing of the Yuan. He also stated that YMF has accepted Yuan as a reserved currency. China devalued the Yuan in a move that rippled through global markets. As policy makers stepped up efforts to support exporters and boost the role of market pricing in Asia’s largest economy.