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Real interest rates above 2% may not be sustainable from growth perspective: Shashanka Bhide

With the policy rate as the instrument, there is a trade-off in terms of growth while bringing down the inflation rate to the target. However, a moderate inflation rate is also needed to achieve sustained high growth. While real interest rates above 2% may not be sustainable from a growth perspective, the persistence of inflation above the target is also unacceptable in the present framework, says Shashanka Bhide, member of the Monetary Policy Committee of the Reserve Bank of India. ....

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Focus on Austria - Chancellor criticized ahead of special Ukraine summit

French President Emmanuel Macron has called a special summit on Ukraine on Monday to send a signal against "Ukraine fatigue". Karl Nehammer is . ....

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paytm upi: RBI allows Paytm's UPI payment business to be migrated to other banks

The Reserve Bank of India has approved the migration of Paytm s UPI-based payments business from Paytm Payments Bank to other banks, including Axis Bank, to ensure compliance and business continuity. The move brings Paytm on par with other fintechs offering payment services through UPI. ....

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Jayanth Varma, MPC's sole dissenter, on inflation, interest rate and MSP

India has sufficient monetary autonomy to base its monetary actions on the needs of the domestic economy, says MPC member Jayanth R. Varma. ....

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Common prepaid payment instruments for travel across the country soon, says RBI

The Reserve Bank of India (RBI) has directed banks and prepaid payment instrument issuers to issue such instruments to enable payments across public transport systems ....

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