Finally after a gap of 4 years the Indian central bank RBI raised its interest rate – the repo rate – by mere 25 basis points to 6.25% yesterday. RBI cited a concern for rising price inflation in the form of oil price shock as a major reason for hiking the interest rate. They said, […]
Tag Archives: RBI
19
Apr
Apr
Many states of India are again experiencing situation like demonetization of 2016. ATMs all across India are running dry and we are seeing long lines outside banks. The finance minister Mr. Arun Jaitley said that this shortage of cash is because of unusual sudden spike in the demand for money. Newspapers are citing causes related […]
19
Feb
Feb
Last week the Indian financial sector was rocked by another US$ 2 billion scam in the Punjab National Bank (PNB). According to latest reports the total scam amount can go up to US$ 3 billion. The main perpetrators of this scam are the famous jeweler Nirav Modi and his uncle Mehul Choksi, owner of another […]
19
Sep
Sep
The full impact of Narendra Modi government’s economically unsound policies of demonetization, GST as well as lose money policy of RBI in the form of lending cheap artificial credits to insolvent borrowers via commercial banks resulting in huge load of unproductive debt has started to show on the Indian economy. Finance ministry officials are now […]
02
Sep
Sep
The exercise of demonetizing around 87% of all circulating currency note supply taken by Narendra Modi and RBI last November has resulted into nothing but overall disaster for the economy. In his televised speech on 8th November, 2016 Narendra Modi talked about three main goals of the whole demonetization exercise, and they were: Curbing financing […]