The Reserve Bank of India (RBI) has issued a concept note on Central Bank Digital Currency (CBDC) on October 7, 2022. The note is accessible on RBI’s website. This was stated by Union Minister of State for Finance, Pankaj Chaudhary, in a written
Moody’s Investors Service has reduced growth forecasts for G-20 economies and now expects real GDP to rise 2.5% in 2022, down from a May projection of 3.1%, while its forecast for 2023 has been cut to 2.1% from 2.9%. “Global monetary and
India’s industrial output grew 12.3% in June, moderating from 19.6% this May, led by a 16.4% uptick in electricity and 12.5% growth in manufacturing. Mining activity grew 7.5% in the month. The Index of Industrial Production (IIP), however, grew only 0.14% over
A new report by the Institute for Energy Economics and Financial Analysis (IEEFA) on Wednesday said robust decarbonisation plans that align with climate science-based net zero targets will be critical to mobilising this rising tide of sustainable finance. The IEEFA report compared
Indian banks reported 248 successful data breaches by hackers and fraudsters between June 2018 and March 2022, the government told the Parliament. Union Minister of State for Finance Bhagwat Karad told Parliament that most of these data breaches were related to card
Union Finance Minister Nirmala Sitharaman on Monday said that the Reserve Bank of India (RBI) is in favour of the cryptocurrency ban as it is concerned about its destabilizing effect on monetary and fiscal stability. “In view of the concerns expressed by
India’s position on cryptocurrencies has not always been clear, Reserve Bank of India Governor Shaktikanta Das reiterated on Monday, May 23. The RBI governor said that the central bank had warned against cryptocurrencies for a long time and now it has collapsed.
Writing in the monthly economic review report for April, the union finance ministry has said, the poor were hurt less by higher prices in FY22 as compared to the rich. In FY22, inflation for the bottom 20 percent of urban consumers fell
The introduction of a Central Bank Digital Currency (CBDC) will not abolish cryptocurrencies and stablecoins, as they satisfy different objectives, said Chief Economic Adviser V. Anantha Nageswaran on Thursday. “Will CBDC effectively end even cryptos, let alone stablecoins? My answer is no
The Reserve Bank of India (RBI) has taken steps to expand the availability of UPI beyond India, informed Union Minister of State for Finance Dr Bhagwat Kisnarao Kirad in a written reply to the Lok Sabha on Monday. More than 37,000 users