The government has extended the term of RBI Deputy Governor T Rabi Sankar for a period of one year, according to sources. The Appointments Committee of the Cabinet has approved the re-appointment of T Rabi Sankar, Deputy Governor Reserve Bank of India, for a period of one year with effect from May 3, 2024, they said. He was appointed as the RBI Deputy Governor in May, 2021 for a period of three years. He had joined the RBI in 1990 and worked in various positions at the central bank. He was Executive Director of the Reserve Bank before being elevated to the post of deputy governor. As an executive director, he was looking after the Department of Payment and Settlement Systems, the Department of Information Technology, Fintech and the Risk Monitoring Department of the RBI. He has served as an IMF Consultant (2005-11) on developing government bond markets and debt management. In addition to his professional career at the RBI, he is the Chairman, Indian Financial Technology and Allie

Investment vehicles for realty and infrastructure sectors -- REITs and InvITs -- have garnered Rs 1.3 lakh crore in the past four years till March-end, and are expected to facilitate more pooled funds, Reserve Bank said in a report. Experts and stakeholders are of the view that with India growing at a fast pace, REITs and InvITs are emerging as alternative investment instruments, especially for high net-worth individuals. "India has been a late adopter of real estate investment trusts (REITs) and infrastructure investment trusts (InvITs). However, the market is flourishing - REITs and InvITs have mobilised Rs 1.3 lakh crore since 2019-20 (up to March 2024)," said an article on 'State of Economy' published in the RBI's April Bulletin. March witnessed the listing of an InvIT, which raised Rs 2,500 crore through a public issue, attracting substantial interest from foreign investors. The article noted that market regulator SEBI has progressively reduced the minimum investment size and

Prime Minister Narendra Modi's BJP, widely expected to return to power for a third straight term, had promised to create more jobs when elected in 2014

Patra says that economy must grow at 8-10% in next three decades to take advantage of demographic dividends

India's foreign exchange reserves have been hitting new peaks for the past seven consecutive weeks

Outstanding NRI deposits up $2 billion in February over January

AAR observed that this clarification was given to a specific SEZ unit and is not a circular but there is no bar in borrowing the rationale of the clarification

In February 2024, the outward remittances stood at $2.01 billion, which was 23% lower than $2.62 billion in January 2024

India's share is about 2.5 per cent in global exports, and the government wants to increase it to about 4-5 per cent over the next few years

In the same period last year (April 2022-February 2023), FDI inflows were at $39.61 billion, while outflows touched $12.90 billion

The index measuring the month-on-month change in the combined output of India's manufacturing and service sectors was inside growth territory for the 33rd consecutive month

Extreme weather conditions may pose a risk to inflation, along with prolonged geopolitical tensions that could keep crude oil prices volatile, the Reserve Bank's April Bulletin said on Tuesday. The retail based on the Consumer Price Index (CPI) has eased to 4.9 per cent in March after averaging 5.1 per cent in the preceding two months. The Reserve Bank, which mainly factors in CPI while arriving at its bi-monthly monetary policy, has kept the key interest rate unchanged at 6.5 per cent since February 2023, citing concerns on the inflation front. An article on 'State of the Economy' published in the Bulletin further said global growth momentum has been sustained in the first quarter of 2024, and the outlook for world trade is turning positive. Treasury yields and mortgage rates are ticking up in major economies as expectations of interest rate cuts are being pared. "In India, conditions are shaping up for an extension of a trend upshift in real GDP growth, backed by strong investme

India's negotiations must maintain a strategic approach and give concessions that meet its long-term objectives

But this year demand is above average as heat waves and election rallies boost consumption of ice-cream and soft drinks, said Avantika Saraogi, executive director at Balrampur Chini Mills

Russia currently does not feature in the top five countries that import medical devices from India

The state also plans to set up mini-industrial clusters in the rural areas for boosting economic activities and creating jobs

Sustaining the economic growth momentum of 7 per cent in 2024-25 and beyond is feasible on the back of favorable monsoon, higher farm productivity and improved global trade, RBI Monetary Policy Committee (MPC) member Shashanka Bhide said on Monday. During 2023-24, the economy is likely to record a growth rate of near 8 per cent on account of good performance of manufacturing and infrastructure sectors. "(India's economic) Growth in the current year is likely to be supported by agriculture with a favourable monsoon and improved global trade. Sustaining the growth momentum of 7 per cent seems feasible," he told PTI. Bhide further said that in the long-term, the need for productivity improvements will remain the key factor to achieve food price stability. Asked what are some of the headwinds he is wary of, Bhide said one area of concern is the global environment. "The slow pace of recovery in global demand on one hand and supply chain disruptions on the other hand... if the ongoing .

Earlier this month, the MPC kept the lending rate steady at 6.5 per cent for the seventh meeting in a row after having raised it by a total of 250 basis points between May 2022 and February 2023

Even after reduction, discounts on Russian crude oil may be contributing $1.5 to $2.5 a barrel to refiners' gross refining margins

As the climate blows cold and hot, it puts wheat, milk, coffee, and even Hilsa in peril