A viral claim suggesting that the Reserve Bank of India (RBI) sold gold worth nearly $12 billion to protect the country’s foreign exchange reserves has been officially rejected, with authorities clarifying that no such transaction took place. The clarification came after reports and social media posts sparked widespread speculation regarding the central bank’s gold holdings...
New Delhi: The government has approved the appointment of former Reserve Bank of India (RBI) Governor Urjit Patel as Executive Director (ED) at the International Monetary Fund (IMF) for a three-year term. He will succeed K V Subramanian, whose tenure was cut short by six months, effective April 30, 2025. The Appointments Committee of the...
Reserve Bank of India Governor Sanjay Malhotra stated on Wednesday that the increase in US tariffs is unlikely to significantly affect the Indian economy unless retaliatory tariffs are imposed. During a press conference following the monetary policy announcement, the RBI Governor remarked, “The ongoing uncertainty regarding US tariffs may not have a substantial impact on...