India suffering from low labor participation rate, rupee depreciating in the world, says RBI Deputy Governor Michael Patra
RBI Deputy Governor Michael Patra on Friday said that India is suffering from a low labor participation rate. He said that the depreciation of rupees is the lowest in the world. RBI stands for the stability of the rupee and is defending the rupee against volatility. Zee Business Tarun Sharma's report.
Reserve Bank of India (RBI) Deputy Governor Michael Patra on Friday said that India is suffering from a low labor participation rate. He said that the depreciation of rupees is the lowest in the world. RBI stands for the stability of the rupee and is defending the rupee against volatility. The yield is uncomfortably high. Zee Business Tarun Sharma's report.
The Deputy Governor said that Rupee-Rouble billing will be decided by the government and not by the RBI. And the government is negotiating for the Rupee-Rouble bill.
Addressing an interactive session on 'Geo-Political Spillovers and Indian Economy', he attributed the lesser depreciation of Rupee to high foreign exchange reserves of around USD 600 billion, a PTI report said.
Patra said, "We don’t allow high volatility and jerky movement in currency and RBI in the market." He added, this year is for MSME or SME. The Deputy Governor said that he has already started discussions with the bank for more easy and attractive loans. RBI will launch a portal for MSMEs.
RBI is trying to improve the payment environment for MSMEs so that there is no delay in delayed payment situations, he added.
RBI will efficiently manage government borrowing programs this year also, Patra said.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
80% return in one year: Brokerage suggests buying this Maharatna PSU stock for 2-3 days, check target
5 investment schemes that provide monthly pension to senior citizens fixed deposit fds savings scss guaranteed return atal pension yojana post office monthly income swps mutual fund
Top 7 Stocks: Brokerages have sell calls on these 2 Tata group stocks; defence PSU multibagger upgraded
02:27 PM IST