The Reserve Bank of India is India's central banking institution, which controls the issuance and supply of the Indian rupee. Until the Monetary Policy Committee was established in 2016, it also controlled monetary policy in India.
The government has pegged nominal GDP growth at 10 per cent for FY21 in the Budget presented by Finance Minister Nirmala Sitharaman here on Saturday.
The government has budgeted for lower dividend from the central bank and state-run lenders in the coming fiscal year, relying exclusively on an ambitious disinvestment target for resource mobilisation.
A public interest litigation (PIL) was moved in the Delhi High Court seeking direction to the union of India to ensure accessibility of online and technology-based banking services to visually impaired people.
The classical economic theory of high inflation leading to the gross domestic product (GDP) growth will not be applicable to India even if the retail inflation has touched 7.35 per cent, since the price rise is led by highly volatile food and vegetables and is a short-term spike.
Thousands of Sri Guru Raghvendra Sahakara Bank depositors on Monday thronged the Sri Guru Narasimha Kalyanamandira auditorium to seek clarification and assurance on the safety of their deposits.
At a public meeting here of thousands of worried bank customers, Sri Guru Raghavendra Sahakara Bank Chairman K. Ramakrishna on Monday said that depositors' money with the bank is "one hundred per cent safe".
Ind continue to have positive views of the nation's economy even though the growth parameters have plummeted to six-year lows and unemployment and price rise continue to affect common citizens, according to -CVOTER State of the Nation Poll 2020.
Lower trade deficit, along with higher remittances, aided in narrowing India's current account deficit to $6.3 billion in Q2 of 2019-20.
The current inflationary trend was still at a benign stage, said Finance Secretary Rajeev Kumar, here on Monday.
Concerns over Stagflation as well as macro-economic wholesale inflation data and global liquidity flows will determine the key equity market moves during the upcoming week, experts said.