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Reserve Bank of India has been flagging concerns about cryptocurrencies, which are seen as a highly speculative asset.
The Reserve Bank of India (RBI) places bank holidays under three categories - holidays under the Negotiable Instruments Act, under the Negotiable Instruments Act and Real-Time Gross Settlement Holiday, and banks’ closing of accounts.
Written by Harshit Sabarwal | Edited by Chandrashekar Srinivasan, New Delhi
RBI governor Shaktikanta Das said the common characteristics of some of the inappropriate business models or strategies that have come to the RBI's notice includes inappropriate funding structure, building asset liability mismatches, which are highly risky and not sustainable.
The RBI's decision to hike the repo rate, as well as increase the inflation estimate, was in line with market expectation, said Suvodeep Rakshit, a senior economist at Kotak Institutional Equities.
"Upside risks to inflation as highlighted in last policy meetings have materialized earlier than expected," RBI Governor Shaktikanta Das said after the policy decision.