The fact-checking unit of the Press Information Bureau (PIB) has called the assertion as "fake" and added that it is unsupported by official data.
The Central Board of Reserve Bank of India (RBI) approved a record surplus transfer of Rs 2.87 trillion to the Central government for 2025-26.
Sanjay Malhotra said the rising energy prices due to the ongoing Iran war were testing India's flexible inflation targeting. This necessitates potential policy intervention by the central bank.
The central bank announced the withdrawal of ₹2,000 denomination banknotes from circulation on May 19, 2023.
When regulators move early, markets often complain. That familiar tension is now visible in India’s banking sector as the Reserve Bank of India pushes lenders toward a more rigorous, forward-looking assessment of loan risk.
Although depreciation of the currency makes imported goods expensive, and foreign travel and fees for studying abroad become costly, it is an erroneous presumption that absence of a strong currency is necessarily bad.
"We have endeavored to ensure a soft landing. These objectives continue to guide our actions even today, and it will continue to be so in the future,"
Citing the uncertainty in the global macro environment, the Indian rupee is likely to be under pressure, especially if crude prices remain elevated and global growth slows down.
Karnataka Sugarcane Cultivators Association President Kurubur Shanthakumar said that he had addressed a letter to Bengaluru RBI Chief 20 days prior but had not received a response.
Fintechs will continue to try to expand into other financial services, particularly personal loans and loans to small merchants.
