India's foreign exchange (forex) reserves dropped for a sixth consecutive week to hit a near three-month low of USD 675.65 billion as of November 8, data from the Reserve Bank of India (RBI) showed on Friday, November 15.
The interest rate cut by Reserve Bank of India (RBI) is unlikely in February due to the persistent inflation, SBI Research stated in its latest report, adding that a slight easing in inflation is expected starting in January.
The Reserve Bank of India on Monday announced that a foreign portfolio investor (FPI) investing in excess of the prescribed 10 per cent limit in a company, shall have the option of divesting their holdings or reclassifying such holdings as foreign direct investment (FDI).
Various incriminating documents and mobile phones were also seized during these raids carried out on November 6 under the provisions of the Prevention of Money Laundering Act (PMLA), 2002
RBI Governor Shaktikanta Das said on Wednesday that capital expenditure spending of the centre and states are picking up but high subsidy outgo is a concern.
RBI Governor Shaktikanta Das clarified on Wednesday that changing the monetary policy stance to 'neutral' does not mean a rate cut in the next policy announcement.
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