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Search resuls for: "Ira Dugal Aftab Ahmed"


3 mentions found


☆ India's pension scheme returns 'exceedingly good' versus benchmarks - regulator
  + stars: | 2023-05-09 | by ( Ira Dugal Aftab Ahmed | Ira Dugal | Aftab Ahmed | ) www.reuters.com   time to read: +2 min
MUMBAI, May 9 (Reuters) - India's national pension scheme offers "exceedingly good" returns of 9-12%, compared to most benchmarks, a top official at the pension fund regulator said on Tuesday. The National Pension Scheme, adopted in 2004, has recently come under criticism for inadequate returns, leading to a few state governments reverting to an earlier pension plan considered fiscally unviable. States that have decided to move back to a so-called old pension scheme include Rajasthan, Jharkhand, Chattisgarh, Himachal Pradesh and Punjab. The old pension scheme offered assured returns to pensioners without any contribution from the employees, which made it fiscally unsustainable for the government. Economists warned that the return to a scheme with assured returns could hurt India's attempts to improve government finances and reduce debt.
☆ India cenbank calls meet to discuss response to govt on missing inflation target
  + stars: | 2022-10-27 | by ( Ira Dugal Aftab Ahmed | Ira Dugal | Aftab Ahmed | ) www.reuters.com   time to read: +2 min
Under the provision cited by the RBI for the meeting, the central bank is required to write a letter to the Indian government explaining its inability to meet the target. A source familiar with the matter confirmed that the meeting has been called to discuss the response to be sent to the government. The MPC, established in 2016, is mandated to keep inflation within 2 percentage points on either side of its 4% target. Reuters GraphicsThe central bank has cited a series of supply shocks, most recently due to the Russia-Ukraine conflict, as one of the reasons for missing the inflation target. Reuters reported the government was comfortable with the central bank meeting the target over the medium term.
☆ Indian govt not averse to weaker rupee vs dollar - source
  + stars: | 2022-09-22 | by ( Ira Dugal Aftab Ahmed | Ira Dugal | Aftab Ahmed | ) www.reuters.com   time to read: +3 min
A customer hands Indian currency notes to an attendant at a fuel station in Mumbai, India, August 13, 2018. The Fed's decision sent the dollar to a new 20-year high and the rupee to a record low of 80.61. The Reserve Bank of India has been selling dollars to alleviate the depreciation pressure on the rupee due to the surging dollar and foreign portfolio outflows. All this points to a structurally weaker rupee," said Dhananjay Sinha, chief economist at Systematix Shares & Stocks. Sinha said the rupee is overvalued by about 5-5.5% on a real effective exchange rate (REER) basis.
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