The Reserve Bank of India’s inflation forecasting model is coming under increasing scrutiny from economists after the central bank consistently overestimated price pressures this year, contributing to a hawkish policy approach. With India’s inflation remaining soft, the RBI likely missed an opportunity to take pre-emptive action in August and October, PMEAC member Soumya Kanti Ghosh […]
Reliance Industries Ltd. bought middle-east crudes last week and may place more orders, in a sign that US pressure against India’s Russian oil imports may be starting to impact its procurement patterns. Reliance Industries, which operates the world’s largest refinery at Gujarat’s Jamnagar bought at least 2.5 million barrels of Middle Eastern crude oil last […]
