India’s central bank and regulator of banking, payments, and currency
BRICS leaders are meeting in New Delhi as tensions over US tariffs and dollar dominance shape the bloc’s cohesion. Washington’s use of tariffs and financial leverage is prompting BRICS members to seek greater economic independence, while the dollar’s reserve status remains strong.
The Reserve Bank of India has raised the repo rate by 25 basis points to 5.50% in a calibrated tightening move as inflation remains on an upward path and growth stays resilient. Policymakers signal no near-term cuts while watching global rate moves and weather-driven risks.
Fairfax Financial has secured a 60.7% stake in IDBI Bank, valuing the lender at about 871 billion rupees. The sale marks the largest foreign direct investment in India’s financial sector as regulators review credentials.