RSS Feed
Twitter
4:10 PM
Blogger
India's economic growth is robust, with concerns over high crude oil prices being exaggerated, according to World Bank Executive Director Neelkanth Mishra. He highlighted strong domestic demand and refining margins as buffers, suggesting growth could exceed 8% and remain in the 7.5-8% range even with elevated oil prices. Mishra believes the economy is well-positioned to absorb price shocks.from Business News Today: Stock Markets, Financial News, India Business & World Business News https://ift.tt/3gldOy2
Prime Minister Narendra Modi met with the Economic Advisory Council to discuss strengthening India's economic growth amidst global uncertainty. The Reserve Bank of India kept the repo rate unchanged at 5.25%, citing geopolitical tensions and inflation concerns, while revising GDP growth and inflation projections downwards and upwards respectively for FY2026-27.
The Reserve Bank of India is introducing new rules for bank deposit interest rates. Banks must now publish their interest rate schedules online each morning and stick to them throughout the day. This ensures customers know the exact rates available. Additionally, banks can now consider withdrawal risk when setting rates for large deposits, adding a fourth factor to pricing.
The government has extended the tenure of Reserve Bank Deputy Governor Swaminathan Janakiraman for another two years, effective June 26, 2026. Janakiraman, who was initially appointed in June 2023, will continue in his role as the central bank maintains its four-deputy governor structure.
