People in rural India have been hit hard with the rise in inflation. Thus, those who have money are trying to pare down costly debt, invest in business, and spending less on discretionary goods.

The RBI governor in an interview cited the example of the recent crypto market crash and said that they have been cautioning investors against crypto for months.

Stagflation is a bad economic situation for any country, but high consumer demand means India is not in that situation

In this section, we recapitulate all the action from the world of business, finance and economic policymaking

The RBI may have reduced the reverse repo rate, but it will be too much of optimism to expect banks’ lending to pick up because of this move.

Worrying trend: there is a fall in the food consumption for the first time in decades, pointing towards malnutrition in the country.

Referring to the MA (History) degree of the RBI chief, Vyas said he hoped that the RBI governor did not make the central bank itself history.

The banking sector, which is reeling under bad debts of over Rs 12 trillion, has been listed by Das as his immediate point of focus.

Jay Narayan Vyas, a former member of Narendra Modi's cabinet when he was the Chief Minister of Gujarat, sent out a tweet on Wednesday morning referring to the new Governors educational qualifications saying: "pray he (Das) doesn't make RBI also a history".

As economic affairs secretary from 2015 to 2017, Das has worked closely with the central bank. At present, he is also the government’s representative at the Group of 20 summits.

The 30-scrip Sensitive Index (Sensex) of BSE on Wednesday opened on a positive note during the morning session of the trade at 35,277.84 points and touched a high of 35,329.37 points.

Shaktikanta Das, who retired as Economic Affairs Secretary in May 2017, has been appointed as the RBI Governor for a term of three years.

Analysts said the RBI governor's surprise resignation and the ruling BJP's loss in state elections unnerved forex traders.

Patel, who had a run in with the government over autonomy of the central bank, resigned from his job earlier on Monday, citing personal reasons.

Gandhi, addressing a press conference in Delhi after the assembly election results, also said that "PM Modi is unable to take the pressure coming from the Opposition."

Reserve Bank of India (RBI) governor Urjit Patel has stepped down from his post.

Reserve Bank of India (RBI) governor Urjit Patel has stepped down from his post.

The RBI's crucial board meeting on Monday is expected to take up the liquidity crisis that has triggered a tiff between the government and the central bank.

The meetings came amid a face-off between the central bank and the finance ministry over issues ranging from appropriate size of reserves that RBI must maintain to ease of lending norms to step up growth in an election year.

The Reserve Bank of India (RBI) said the process of destruction of banned notes got over in March 2018.

Chidambaram said that the governments he was a part of in the past had never used Section 7 of the RBI Act of 1934, under which a direct order can be issued by the government to the central bank to carry out its wishes in "public interest".

Section 7 of the RBI Act empowers the government to issue directions necessary for public interest to the RBI from time to time after consultation with the RBI governor.

He has revealed in his new book 'I Do What I Do: On Reforms Rhetoric and Resolve'

And also it could "affect the national balance sheet"...