Central banks around the world face an existential threat to their inflation mandates from climate change, Reserve Bank of India Deputy Governor Michael Patra said. The conduct of inflation targeting-based monetary policy may face even greater challenges in the years ahead, Patra said at the "Central Banking at Crossroads" event here on Monday, and the speech was released Tuesday. Register to read
The Reserve Bank of India is aiming to establish a global model of risk-focused supervision by fostering a strong risk discovery and compliance culture, building a "through-the-cycle" risk assessment framework, Deputy Governor Swaminathan J. said at the "Central Banking at Crossroads" event in New Delhi on Monday. "Reserve Bank is working to create a comprehensive data analytics ecosystem to support its supervisory functions," Swaminathan said in the speech that was released Tuesday. Register to read
The Election Commission of India on Tuesday announced that assembly elections in Jharkhand will be held in two phases—Nov. 13 and Nov. 20--and in Maharashtra in one phase on Nov. 20. Votes for both the states will be counted on Nov. 23. With the announcement of the poll schedule in both the states, the Model Code of Conduct has also kicked in.Register to read
The number of extremely poor people in India--people living on $2.15 a day or less--has fallen to 129 million in 2024 from 431 million in 1990, the World Bank said Tuesday. However, more people in the country now live on less than $6.85 per day--the World Bank's own poverty line--than in 1990, driven largely by population growth, the multilateral development bank said in its new 'Poverty, Prosperity, and Planet' report.Register to read