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What is Dollarisation? Simply put, dollarisation is the term when US dollar is used in addition to or instead of the domestic currency of another country. It is an example of currency substitution. Dollarisation usually happens when a country’s own currency loses its usefulness as a medium of exchange, due to hyperinflation or instability. Which […]
The Reserve Bank of India on Tuesday released a report which suggests that prices of Food such as cereals, pulses, and edible oils rose or remained stable in May. The report further indicates that inflation may rise further. Key Highlights of the Report:Price of LPG cylinder has risen by Rs 50 per cylinder, while Petrol-Diesel […]
In a surprise press conference held on Wednesday, Reserve Bank of India’s Governor, Shaktikanta Das, announced the increase of RBI’s repo rate. The RBI Monetary Policy Committee hiked the repo rate by 40 basis points. The change implies that the current repo rate is 0.4 percent. During the press meeting, Governor Shaktikanta Das mentioned the […]
While India’s real GDP in FY22 is estimated to be close to Rs 150 lakh crore, Reserve Bank of India’s (RBI) report on currency and finance for FY22 has estimated that the time to recover from the hit taken by the Indian economy due to covid pandemic would be around 15 years. The report has […]
RBI and the Indian government have always been belligerent towards each other. However, this is the first time a senior government official has accused Rajan, the former governor of the Reserve Bank of India, of favoring developed nations by keeping interest rates low. The government has sought an investigation into the RBI’s true motivations for […]
The Reserve Bank of India (RBI) on Friday directed Paytm Payments Bank Ltd to stop adding customers. The bank has been asked to follow these directions with immediate effect and appoint an IT audit firm to conduct a comprehensive system audit of its IT system. In doing so, the RBI had exercised its powers under section 35A […]
Union finance minister Nirmala Sitharaman said there was complete harmony with which her department was working with Reserve Bank of India on all issues, including cryptocurrencies. She said there is a respect towards each other’s domain and priorities keeping the country’s interests in mind. “Not just on crypto, but on every other thing as well. […]
