Economy

Car sales in the world's largest auto market have slowed dramatically, gamers are buying fewer consoles, and people are unwilling to replace their existing smartphones, laptops and TVs, as prolonged COVID curbs crimp spending power and put more people out of jobs.

The number of bank notes of Rs 2,000 denomination has steadily declined over the years to touch 214 crore or 1.6 per cent of the total currency notes in circulation at the end of March this year, according to RBI annual report.

Among the 27 EU member states, Hungary is the most vocal critic of the planned embargo on Russian oil.

India, the world's third biggest oil importer and consumer, ships in over 80% of its oil needs. Asia's third largest economy wants to monetise its oil and gas resources to cut its import bill.

China's foreign ministry on Friday accused US Secretary of State Antony Blinken of "smearing" the country, after the American official delivered a speech calling for action to counterbalance Beijing's influence.

India's banks need to monitor the credit behaviour of restructured loans and the possibility of increased repayment slippages from sectors more exposed to the pandemic, the central bank said in a report on Friday.

Sounding a note of caution, the Reserve Bank said on Friday there is a risk of high wholesale price inflation (WPI) putting pressure on the retail inflation, albeit with a lag.

The Reserve Bank of India's annual report showed that the persistence of high inflation is forcing countervailing monetary policy action at a time when supporting the economic recovery should have been the priority.

Making a strong case for structural reforms, the Reserve Bank on Friday said they are essential for sustained, balanced and inclusive growth, and also to deal with the after-effects of the pandemic.

RBI Annual Report: The global recovery is expected to suffer a significant loss of momentum in 2022, the Reserve Bank of India's annual report showed.

The Reserve Bank of India's primary focus is to bring inflation down closer to target but it cannot disregard the concerns around growth, governor Shaktikanta Das told newspaper Economic Times in an interview published on Friday.

India's economy maintained its momentum in April as a wider reopening from the pandemic kept rising prices from depressing demand for the time being.

India's economic recovery from the Covid-19 pandemic likely stumbled again in the first quarter of this year primarily due to Omicron-related restrictions and higher inflation, a Reuters poll showed.

Amid Sri Lanka's economic meltdown, Prime Minister Ranil Wickremesinghe has elucidated the need to make policy decisions based on an export-oriented economy.

The United States does not seek to sever China from the global economy, but wants Beijing to adhere to international rules.

Car sales in the world's largest auto market have slowed dramatically, gamers are buying fewer consoles, and people are unwilling to replace their existing smartphones, laptops and TVs, as prolonged COVID curbs crimp spending power and put more people out of jobs.

The number of bank notes of Rs 2,000 denomination has steadily declined over the years to touch 214 crore or 1.6 per cent of the total currency notes in circulation at the end of March this year, according to RBI annual report.

Among the 27 EU member states, Hungary is the most vocal critic of the planned embargo on Russian oil.

India, the world's third biggest oil importer and consumer, ships in over 80% of its oil needs. Asia's third largest economy wants to monetise its oil and gas resources to cut its import bill.

China's foreign ministry on Friday accused US Secretary of State Antony Blinken of "smearing" the country, after the American official delivered a speech calling for action to counterbalance Beijing's influence.

India's banks need to monitor the credit behaviour of restructured loans and the possibility of increased repayment slippages from sectors more exposed to the pandemic, the central bank said in a report on Friday.

Sounding a note of caution, the Reserve Bank said on Friday there is a risk of high wholesale price inflation (WPI) putting pressure on the retail inflation, albeit with a lag.

The Reserve Bank of India's annual report showed that the persistence of high inflation is forcing countervailing monetary policy action at a time when supporting the economic recovery should have been the priority.

Making a strong case for structural reforms, the Reserve Bank on Friday said they are essential for sustained, balanced and inclusive growth, and also to deal with the after-effects of the pandemic.

RBI Annual Report: The global recovery is expected to suffer a significant loss of momentum in 2022, the Reserve Bank of India's annual report showed.

The Reserve Bank of India's primary focus is to bring inflation down closer to target but it cannot disregard the concerns around growth, governor Shaktikanta Das told newspaper Economic Times in an interview published on Friday.

India's economy maintained its momentum in April as a wider reopening from the pandemic kept rising prices from depressing demand for the time being.

India's economic recovery from the Covid-19 pandemic likely stumbled again in the first quarter of this year primarily due to Omicron-related restrictions and higher inflation, a Reuters poll showed.

Amid Sri Lanka's economic meltdown, Prime Minister Ranil Wickremesinghe has elucidated the need to make policy decisions based on an export-oriented economy.

The United States does not seek to sever China from the global economy, but wants Beijing to adhere to international rules.