Economic Developments

• Consideration of Increased Bank Deposit Insurance: The Indian government is actively deliberating raising the bank deposit insurance limit beyond the current ₹500,000. This move comes in response to depositor concerns following the Reserve Bank of India’s suspension of withdrawals from New India Co-operative Bank due to supervisory issues.

• Political Updates

  • New Central Bank Leadership: Sanjay Malhotra has assumed the role of India’s central bank chief, supporting Prime Minister Modi’s efforts to rejuvenate economic growth following a notable slowdown. Malhotra has initiated measures such as cutting interest rates and postponing key banking sector regulations to stimulate the economy.