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RBI Governor Shaktikanta Das: CAD for 2023-24, 2024-25 to be eminently manageable

February 8, 2024 admin

Reserve Bank of India Governor Shaktikanta Das. File | Photo Credit: EMMANUAL YOGINI “With India’s current account deficit (CAD) declining sharply to 1% of GDP in Q2:2023-24 from 3.8% in Q2:2022-23,” RBI Governor Shaktikanta Das on February 8 said going ahead, the net balance under services and remittances would remain in large surplus, partly offsetting the trade deficit. …

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RBI pegs FY’25 GDP growth at 7% on improved consumption demand, private capex spends

February 8, 2024 admin

Reserve Bank of India Governor Shaktikanta Das. | Photo Credit: PTI The Reserve Bank of India (RBI) on February 8 projected GDP growth for the next financial year at 7% on the back of improved household consumption and upturn in private capex cycle. The real GDP growth is, however, lower than 7.3% estimated by the…

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NASA climate satellite blasts off to survey oceans and atmosphere of a warming Earth

February 8, 2024 admin

A SpaceX Falcon 9 rocket on NASA’s Plankton, Aerosol Cloud Ocean Ecosystem (PACE) mission lifts off from Space Launch Complex 40 at the Cape Canaveral Air Force Station in Cape Canaveral, Florida. | Photo Credit: AP NASA’s newest climate satellite rocketed into orbit Thursday to survey the world’s oceans and atmosphere in never-before-seen detail. SpaceX…

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RBI to introduce offline eRupee transactions soon: Shaktikanta Das

February 8, 2024 admin

Reserve Bank of India Governor Shaktikanta Das. File | Photo Credit: PTI Digital Rupee users will soon be able to execute transactions in areas with limited internet connectivity as the Reserve Bank of India (RBI) on February 8 announced that offline capability will be introduced on the Central bank digital currency (CBDC) pilot project. RBI…

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Rupee trading on flat note after RBI monetary policy decision

February 8, 2024 admin

The rupee rates in the last six days. | Photo Credit: PTI The rupee was trading on a flat note after the Reserve Bank of India (RBI) on Thursday decided to keep policy rate unchanged for the sixth time in a row to maintain a tight vigil on inflation. At the interbank foreign exchange, the…

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Markets climb in early trade ahead of RBI’s interest rate decision

February 8, 2024 admin

Bombay Stock Exchange (BSE) building, in Mumbai. File | Photo Credit: PTI Equity benchmark indices climbed in early trade on Thursday ahead of the Reserve Bank of India’s interest rate decision, amid a rally in global markets. The 30-share BSE Sensex jumped 321.42 points to 72,473.42 in early trade. The Nifty climbed 80.55 points to…

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SEBI proposes ways for deregistered offshore funds to dispose of securities

February 8, 2024 admin

Securities and Exchange Board of India (SEBI) in Mumbai. File | Photo Credit: REUTERS Markets regulator SEBI proposed on Wednesday ways in which offshore funds whose India licences have expired can dispose of securities they hold, according to a discussion paper issued on the regulator’s website. A discussion paper is the first step taken by…

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Parliament Budget Session Live Updates Day 7: PM Modi hails Manmohan Singh’s contribution towards country, Rajya Sabha in farewell to retiring members

February 8, 2024 admin

Elamaram Kareem, CPI (M) MP from Kerala, says that there is no mention of the 60-crore workforce of India in the Bill. Only with Ayodhya, they cannot overcome the next election, he says. AITC MP Jawhar Sircar asks the government what is the GDP growth now. We get the impression that it is at its…

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Panchayats in India earn only 1% of their revenue through taxes | Data

February 8, 2024 admin

Panchayat leaders protesting excessive interference from State and Central governments in Chennai | Photo Credit: B. Jothi Ramalingam Only 1% of the revenue of panchayats was earned by them, with the rest being raised as grants from the State and the Centre, show data. Specifically, 80% of the revenue was from Central government grants; only…

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World breached 1.5° Celsius limit for entire year for first time: European climate agency

February 8, 2024 admin

Scientists attribute the exceptional warming to the combined effects of El Niño. File photo | Photo Credit: AP The world last month experienced the warmest January on record, with the global mean temperature for the past 12 months exceeding the 1.5° Celsius threshold, according to the European climate agency. However, this does not imply a…

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