Home Latest News RBI chief says Indian economy showing signs of improvement

RBI chief says Indian economy showing signs of improvement

The Reserve Bank of India Governor Raghuram Rajan today said that Indian economy is showing signs of improvement and it can further pick up if monsoon improves leading to growth in rural economy as well.Speaking at an event in Mumbai, Dr. Rajan said one might see rural demand coming back more strongly, and that would be a tremendous bonus to the economy.

Rebuffing concerns about depreciation of Chinese currency, the Governor said the devaluation of the Chinese Yuan was not something to be ‘concerned’ about at current levels.He added, however, that global central banks depreciating currencies as a policy action was a worrisome trend.On August 11, the Chinese central bank surprised markets by devaluing the Yuan by nearly 2%.

After granting approval to 11 entities for payments banks on Wednesday, the RBI on Thursday said it will announce small

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