One of the early bouncers she faced was hooked for six, when she announced that India would sell $10 billion of sovereign bonds in overseas markets. Whack! In one stroke, she moved the foreign currency risk on to her fiscal accounts, spread joy in domestic bond markets, and heralded lower local interest rates.
Indian Economy
Bad news for SBI customers! SBI halves daily ATM withdrawal on THESE debit cards to Rs 20,000 from 31 October
As per a senior SBI official, the average cash withdrawal from ATMs per card is less than Rs 20,000 and the move will help in checking frauds and promote digital transaction. About a month ago, the State Bank of India (SBI) had alerted its customers holding Classic and Maestro debit cards regarding reduction of cash withdrawal limit to Rs 20,000 a day from ATM starting October 31.
RBI Pause on Interest Rate Hike May Last Only Till December
The minutes of the October policy meet show that RBI’s monetary policy committee members did not tone down their hawkishness or reduce their vigil on inflation when they had recommended a pause.
Indian Economy set for Higher Growth Trajectory
Gold Silver Reports – Union finance minister Arun Jaitley has said the Indian economy is set for a higher growth trajectory on the back of a slew of structural reforms.
Indian Economy no longer Dependent on the Oxygen of Govt Support
Gold Silver Reports – The key question the GDP growth numbers for the September quarter were supposed to answer was: Has the Indian economy recovered from the ravages of the introduction of the goods and services tax (GST)?
Still a Long Way to Go; FDI in India
Gold Silver Reports — India’s foreign direct investment (FDI) inflows have picked up consistently in the last three years and it is one of the top 10 destinations in the world , but these investments are still small compared to the economy and in the overall global scheme of things.