RBI looking to introduce central digital currency

RBI looking to introduce central digital currency

"Continuous monitoring and surveillance is essential to reduce the risks of data breach", he said. "We noted there are several uncertainties around the baseline inflation path which is why we kept the stance neutral and rate unchanged". The inflation forecast for fiscal 2019 is revised down to ~4.7 per cent average, from ~5 per cent estimated earlier. "Another risk is from fiscal slippages by states on account of higher committed revenue expenditure".

Shilpa Mankar Ahluwalia, partner at law firm Shardul Amarchand Mangaldas, said that it is unclear at this stage whether this requirement will extend to only licensed entities (such as wallet issuers) or also apply to the payment gateways and intermediaries.

The MPC has now lowered its CPI inflation projection, which will surely be welcomed by the market coming soon after the RBI eased the rules on provisioning for mark-to-market for bond holdings of banks.

After sluggish growth following the implementation of GST, economic activity has picked up. Liquidity is expected to be in moderate surplus mode in the first half of FY19, RBI deputy Governor Viral Acharya said. Five of the six-member MPC voted for the decision, while one sought a hike.

"In view of the associated risks, it has been decided that, with immediate effect, entities regulated by RBI shall not deal with or provide services to any individual or business entities dealing with or settling VCs (virtual currencies)", the RBI said in a statement.




PSPs asked to store data in India Amid growing concerns over digital privacy, the RBI has given payment systems providers an ultimatum: store all consumer data within India.

"There was an important intra-year turning point, most notably the investment demand accelerated in the second half of 2017-18 and the recent high frequency indicators point towards further strengthening with capital goods products registering a nineteen month high growth in January this year".

"Overall food inflation should remain under check on the assumption of a normal monsoon and effective supply management by the government", the Reserve Bank of India said in a statement in Mumbai.

RBI Governor Urjit Patel, who had recently gone public with the legal limitations faced by the central bank in regulating state-owned lenders in the light of over Rs 13,000-crore scam at PNB, reiterated that there is an "asymmetry" in its powers between government and private banks.

Related Articles

  • Third-party breach exposed credit card details on Sears, Delta Airlines customers

    Third-party breach exposed credit card details on Sears, Delta Airlines customers

    Deutsche Bank maintained Delta Air Lines, Inc . (NYSE: DAL ) traded up 0.80% during midday trading on Friday, hitting $48.90. A New York Post report said that just a "small subset" of Delta customers were affected, according to the airline.
    Prince Philip in hospital

    Prince Philip in hospital

    At a ceremony commemorating Britain's war dead in November, he appeared to be having trouble standing and leaned against a wall. Philip's surgery comes after he was forced to miss out on numerous events over the Easter period due to problems with his hip.
    Manufacturing PMI goes boom!

    Manufacturing PMI goes boom!

    Local manufacturing companies generally passed on these higher cost burdens to clients by raising output prices in March. The increase was still solid, however, extending the current sequence of growth to 28 months.
  • 40000 civilians return home in Syria's Eastern Ghouta: state media

    40000 civilians return home in Syria's Eastern Ghouta: state media

    It is also unclear whether all of the Army of Islam fighters have agreed to leave and how long the evacuations will take. Local activists have said that over 100,000 civilians were trapped inside Douma, which suffered devastating damage.
    Reports of Douma evacuation deal 'not true': council member

    Reports of Douma evacuation deal 'not true': council member

    Meanwhile, jihadist groups, rebels and their families relocated out of the Eastern Ghouta area and into other rebel-held areas. The government's initial statements reported two buses, and then four buses, leaving the rebels' last stronghold in the area.
    I Want Wilder Or Fury-Joshua

    I Want Wilder Or Fury-Joshua

    However Joshua and promoter Eddie Hearn both refuted Parker's claims, insisting that the referee had "perfect English". Beyond Wilder and Povetkin, the most risky tests are rematches against Parker and British rival Dillian Whyte.
  • The Johnny English Strikes Again Trailer!

    The Johnny English Strikes Again Trailer!

    Rowan Atkinson is back for a third go-around as the bumbling spy Johnny English in the upcoming Johnny English Strikes Again . Well, three Johnny English movies, as we now have a trailer for a threequel titled Johnny English Strikes Again .
    US stocks lower on escalating US-China trade dispute

    US stocks lower on escalating US-China trade dispute

    It said that the date of implementing the trade tariffs would depend on when the USA would impose the same on the Chinese goods. Trade Representative released an exhaustive list of Chinese products which could be hit by up to $ 50 billion in new tariffs .
    Parkland students react to new clear backpack rule

    Parkland students react to new clear backpack rule

    Metal-detecting wands weren't being used Monday but are being considered, officials said . Thompson said someone sent an email warning of a threat to the campus.
  • Densing: Gov't may lose P20-B due to Boracay closure

    Densing: Gov't may lose P20-B due to Boracay closure

    More than 2million tourists visited Boracay for its beaches and nightlife previous year , generating about £760million in revenue. Starting April 20, PAL will deploy additional flights on routes between Manila and Cebu, Iloilo, Puerto Princesa and Bacolod.
    Robert Griffin III reportedly signed very cheap deal with Ravens

    Robert Griffin III reportedly signed very cheap deal with Ravens

    Obviously, his personality, he's a confident guy. "We're excited about it", Ravens coach John Harbaugh said in a press conference. Over the course of his four seasons in the NFL , Griffin has appeared in 42 games, 40 of which he started.
    Tony Ferguson Withdraws From UFC 223, Max Holloway Named Replacement

    Tony Ferguson Withdraws From UFC 223, Max Holloway Named Replacement

    Even in the insane world of MMA , taking a title fight in a higher weight class without a training camp is unheard of. Nurmagomedov is in Brooklyn, New York for Saturday's event, as he'll battle Max Holloway for the lightweight belt.