Indians sent $2.36 billion abroad in October under the Liberalised Remittance Scheme. Travel spending was $1.35 billion. Investments in equity and debt saw a significant jump. However, spending on studies abroad decreased compared to last year. The Reserve Bank of India manages this scheme for resident individuals.
Chicago Fed President Goolsbee rejects calls for Fed rate cuts to ease US debt burden
Chicago Fed President Austan Goolsbee rejected calls for interest-rate cuts to ease the US government’s debt burden, warning that such a move could fuel inflation