In a rare instance, the Reserve Bank of India (RBI) made certain adverse observations against Pandey, and it wanted the Department of Financial Services (DFS) to “factor” them in while considering his appointment as CEO, ET reported July 13. The RBI’s observations had to do with Pandey’s “conduct” and were not related to any vigilance case.
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