RBI MPC member predicts ‘less severe’ high food inflation
The Reserve Bank of India (RBI) Monetary Policy Committee (MPC) member highlighted that going ahead, as India develops, the problem of high food inflation would be "less severe".
The Reserve Bank of India (RBI) Monetary Policy Committee (MPC) member highlighted that going ahead, as India develops, the problem of high food inflation would be "less severe".
However, the RBI (Reserve Bank of India) said the bank shall continue to provide services to its existing customers, including its credit card customers.
The RBI said that the regulation would be effective from April 24, 2024. ARCs, as on October 11, 2022, have been provided a glide path to achieve the minimum required Net Owned Fund (NOF) of Rs 300 crore.
This approval will now allow PayU to onboard new merchants on its platform.
The Finance Ministry on Monday announced the sale of government bonds worth Rs 32,000 crore in two categories on April 26 (Friday).
In terms of financial account, the data pointed out an inflow in net foreign direct investment of $24.6 billion as compared with $7.3 billion in Q2 of 2019-20.
The report pointed out that the Reserve Bank undertook an array of policy measures to mitigate the effects of Covid-19.
The paper added the decline in trend inflation since 2014 is, however, coincident with a flattening of the 'Philips Curve'.
In the June-September quarter, India's GDP on a year-on-year basis contracted by (-) 7.5 per cent, narrowing from (-) 23.9 per cent in the preceding quarter.
Batra has been working with the ICICI Group for the last 20 years and is currently the President with responsibilities of the Corporate Centre at the bank.