MUMBAI: RBI deputy governor T Rabi Sankar on Friday said that stablecoins are inherently unstable and pose major macro-financial risks, including currency substitution, dollarisation and weakened monetary-policy transmission.Sankar’s comments come at a time when US govt’s stance is broadly supportive of dollar-denominated payment stablecoins as part of the formal financial system, distinct from lightly supervised…
Piyush Goyal (File photo) India will face no difficulty in purchasing goods worth $500 billion from the United States over the next five years, with Commerce and industry minister Piyush Goyal calling the number “very conservative” given the scale of demand expected from the country’s expanding economy.Speaking to PTI Videos in an interview on Sunday,…
MUMBAI: Reserve Bank of India said the outlook for prices has shifted due to upside risks, even as data shows sustained resilience of the Indian economy, and warned that a prolonged war would be detrimental to the broader global outlook.According to the State of the Economy report, there was a “drastic deterioration” in the global…
SRINAGAR: CBI announced on Monday the arrest of a suspect wanted for 35 years for his alleged role in the 1989 abduction of former home minister Mufti Mohammad Sayeed’s daughter Dr Rubaiya Sayeed by the banned JKLF, whose jailed chief Yasin Malik is standing trial in the case.The central agency, which took over the case…
India’s pension regulator has relaxed exit and withdrawal norms under the National Pension System (NPS), giving non-government subscribers greater flexibility over their retirement savings and extending the investment horizon to age 85, PTI reported.Under the revised rules, non-government NPS subscribers will now be allowed to withdraw up to 80% of their accumulated pension wealth at…
Gold prices surged to fresh lifetime highs on Tuesday, extending their rally as investors sought the safety of precious metals amid heightened geopolitical uncertainty and growing bets on interest rate cuts by the US Federal Reserve next year. The renewed buying momentum pushed both metals to record levels across domestic and global markets. On the…
For the first time, the U.S Securities and Exchange Commission has sought to clearly define different types of crypto assets and how the regulator will approach them, issuing those new standards Tuesday alongside its sister agency that’s responsible for commodities. The SEC’s interpretive guidance, which doesn’t yet carry the weight of a formal new rule, has…
India has purchased around 30 million barrels of unsold Russian crude after the United States issued a 30-day waiver allowing the country to buy shipments already stranded at sea, Bloomberg reported citing sources.According to the report, Indian refiners moved quickly to secure the available cargoes, many of which were already positioned in Asian waters, offering…
Global oil prices surged and equity markets weakened on Thursday after fresh strikes on energy infrastructure in Iran and in retaliation Islamic Republic escalating threats to key facilities across the Gulf raised concerns over supply disruptions.Natural gas prices increased by more than 5%, while Brent crude rose to $111.19 in early trading and extended its…
PM Modi on Thursday reiterated India’s economic story, saying that growth stood at over 8%, even amid ongoing challenges. Speaking at the India-Oman Business Summit in Muscat, the PM said, “A few days ago, the economic growth figures were released, and India’s growth stood at over 8%. This means India has continued to remain the…
