RBI holds main rate at 5.25% says Governor Sanjay Malhotra
Business
The Reserve Bank of India (RBI) is keeping its main interest rate at 5.25%.
Governor Sanjay Malhotra said the recent U.S.-Iran ceasefire influenced this call, as ongoing tensions in West Asia have been shaking up the global economy.
The RBI's policy team agreed that with crude oil prices rising and the rupee slipping during the 39-day conflict, now isn't the time for big changes.
Governor Malhotra pushes EVs, oil independence
Calling the current situation "almost a crisis," Malhotra shared that Malhotra is looking ahead by pushing for more electric vehicles and boosting India's oil independence.
He believes these moves can help steady things now and make India less vulnerable to global disruptions down the line.