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Too Premature To Think India Will Replace China In Influencing Global Economic Growth: Raghuram Rajan
The former RBI governor also said that, however, the situation may change going forward as India is already the world's fifth largest economy, it is growing and has the potential to keep expanding
According to the report, the capital spending by states saw a robust 31.7% growth on year at INR 5.89 trillion in FY22
The RBI said it had received nine applications under the fourth cohort, of which six entities have been selected for the 'test phase'
RBI is among the pioneers, having launched a CBDC, the e-Rupee, for both wholesale and retail use
The RBI data reportedly revealed that PSBs estimated at 62% of the deposits of the scheduled commercial banks, while on the other hand on loans, they held 58% market share
The number of transactions per card also declined, in line with the reduction in expenditure per card - at 2.9 transactions versus 3.2 in October
RBI governor emphasized that fintech initiatives and startups are the important segments of aspirational India
With the piling grievances of financial customers, RBI receives complaints under its new scheme
As per reports, an out-of-turn meeting of the monetary policy committee (MPC) of the RBI was held in early November to bat around the report to be sent to the central government for failing to maintain the inflation mandate