The RBI and the government had launched a series of measures to attract more forex flows into the country last month, including the FCN (B) measure.
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The RBI and the government had launched a series of measures to attract more forex flows into the country last month, including the FCN (B) measure.
Services activity recovered in August, while manufacturing growth slowed to its weakest level in five years, keeping overall private-sector expansion subdued.
Rohit Jain also highlighted that unauthorised entities offering online forex trading are seen to operate outside FEMA and ETP regulation altogether.
Goldman Sachs sees a hawkish shift in the RBI's tone, while Bank of America calls the August policy decision a dovish hold. Both brokerages expect 50 bps of rate hikes in FY27, but differ on the timing and reading of the central bank's latest signals.
RBI Deputy Governor Shirish Chandra Murmu said 176 billion banknotes are currently in circulation in India, despite the rapid adoption of UPI and digital payments.
Industry representatives said the announcements made during Modi's address could help boost investment, employment, innovation and manufacturing, while strengthening India's position as a self-reliant and globally competitive economy.
RBI moves swap deadline up by five weeks as scheme nears $57 billion mark, with SBI Research pencilling in $80-85 billion by close.
The WPI has been on an upward trajectory since the beginning of this fiscal as the West Asia war and the resultant blockade of the Strait of Hormuz, through which the majority of crude oil is imported into India.
The increase in CPI was led by food inflation, which rose to 5.2% in line with expectations. On a month-on-month basis, headline inflation increased 0.9%, with food prices rising 2%, while fuel prices declined.
Parliamentary panel urges early India-US trade deal and measures to shield exporters from higher tariffs