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The Reserve Bank of India is introducing new rules for bank deposit interest rates. Banks must now publish their interest rate schedules online each morning and stick to them throughout the day. This ensures customers know the exact rates available. Additionally, banks can now consider withdrawal risk when setting rates for large deposits, adding a fourth factor to pricing.
The Indian government is preparing further policy steps to protect the economy from the West Asia conflict. These measures will ensure sufficient availability of goods and raw materials. The focus is on stabilizing the Indian currency and foreign exchange flows. Additional measures will be announced as needed. The government is closely monitoring trade deficits and potential impacts on subsidies.
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