India
Cross-currency letters of credit gaining popularity in Asia
Divergent central bank policies see CNH LCs increasingly used to cover USD invoices
RBI governor warns of financial stability risks from AI
Das calls on banks to guard against liquidity stresses resulting from disinformation
Reserve Bank of India holds interest rates
Decision comes despite weakening inflation
India agrees currency swap with Maldives
RBI to provide $760bn in support to archipelago
Alpana Killawala on communications under six governors at the RBI
The former RBI comms chief speaks about the importance of strategic communications, courting the media, open mouth operations and altering a governor’s ‘rock star’ image
Phasing out coal-fired power could ultimately pay for itself – BdF paper
Authors say gains from lower operating and finance costs could compensate for outlay costs
India’s central bank to launch digital lending platform
New interface will enable frictionless credit, RBI governor claims
Food inflation spills over in India – RBI study
Central bank economists call for disinflationary monetary policy to tame phenomenon
Inflation in India falls to five-year low
Food inflation is also at its lowest level for more than a year
US’s indirect reliance on Chinese goods rises – NY Fed research
Study finds country’s largest partners are importing increasing amounts of goods from China
RBI holds rates as food inflation persists
Governor says better weather and improved agricultural yields should relieve price pressures
Malaysia is latest country to seek Brics membership
However, uncertainty remains over whether Saudi Arabia will join emerging economies bloc
IMF warns of slowing disinflation path
Higher interest rates in advanced economies could trigger “harmful spillovers”, chief economist warns
BIS instant payments trial to move from ‘concept to reality’
India joins Project Nexus as it prepares for “live implementation”
PBoC and RBI have highest-ever gold holdings, WGC says
PBoC paused gold purchases in May for first time since November 2022
Reserve Bank of India plans to take payments system to 20 countries
Peruvian central bank signs agreement to use India’s Unified Payment Interface
RBI holds rates as food inflation lingers
Normal monsoon could bring prices down, Indian central bank says
RBI launches platform to digitise regulation
Central bank also launches mobile app to buy and sell government securities
Getting Chiang Mai right
Asia’s emergency infrastructure is on the right track, but there is still room for improvement
RBI payout to Indian government more than doubles
Dividend boosts public finances as new government set to take office in early June
Food prices keep Indian inflation up – RBI
Target may only be reached in H2, central bank research says