US President Donald Trump's visit to India unlikely to see any major trade deals being signed.
In an interview recently, RBI Governor Shaktikanta Das answered a string of questions on inflation, growth, fiscal deficit and the Central Bank’s independence and autonomy. He said the RBI is still focused on growth and asserted that all decisions taken last year “are our own objective, independent decisions”.
Regarding the NBFC crisis, Das said RBI was “closely and intensively” monitoring the top 50 NBFCs, and said the bank will endeavour “to ensure that no large systemically important NBFC collapses...We are very mindful of the aspect of financial stability in the case of banks too. RBI will always ensure that stability of the banking sector is maintained." [Indian Express]
Great Expectations (No More)
Many expected the long-awaited trade deal between the US and India to be signed when President Donald Trump would visit India on February 24th. But over the past few days, such expectations have more or less died down. First, US trade representative Robert Lighthizer said he would not be travelling to India for pre-scheduled end-stage discussions. Now, Trump has said he was “saving the big deal for later on”, possibly after the US Presidential election in November. [HT]
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