Former finance secretary, Subhash Chandra Garg, stated that the RBI’s move to withdraw Rs 2,000 currency notes from circulation will not affect the operation of India’s economic or financial systems. The Reserve Bank of India has given the public until September 30 to either deposit such notes in accounts or exchange them at banks.
Market expects one more rate cut as inflation stays benign
Indian economists and bond market experts expect another quarter percentage point cut in policy rates. This follows the Reserve Bank of India’s recent rate reduction