Union Finance Minister Nirmala Sitharaman and IMF Deputy Managing Director Nigel Clarke discussed India’s evolving growth trajectory, global economic shifts and the need for continued macroeconomic cooperation during their meeting in New Delhi on Monday.
The Indian rupee surged 67 paise to a two-month high against the US dollar on Thursday and logged its biggest single-day gain since June after the Reserve Bank of India's foreign currency non-resident bank (FCNR-B) inflows significantly exceeded market expectations.
India is preparing further customs and banking reforms, including risk-based import screening and a high-level review of the banking sector’s role towards building a developed India, Union Minister for Finance & Corporate Affairs Nirmala Sitharaman said.
The MSCI index rebalancing on Monday is set to provide the first major test of the new closing auction session (CAS) with passive funds expected to execute large trades in final minutes of the trading session.
