Go Unlimited with Magzter GOLD
Get unlimited access to 10,000+ magazines, newspapers and Premium stories for just
Try GOLD - Free
De-dollarisation not on the table: RBI governor
The New Indian Express Vellore
|December 07, 2024
RESERVE Bank governor Shaktikanta Das on Friday downplayed the punitive tariffs being threatened by the US President-elect Donald Trump against the BRICS nations if they moved away from dollar, saying each punitive action will have counter-actions by the affected countries.
He also stated that the government has not taken any steps towards de-dollarisation but is only looking at de-risking its domestic trade from geo-political upheavals.
"There is no de-dollarisation bid on the table," Das stressed categorically and also ruled out offering an assessment on how that will impact the rupee if higher tariffs are imposed by the US on our imports.
In responding to a media question at the customary post-policy presser here Friday, where RBI left the key repo rate unchanged at 6.5% for an 11th consecutive time but cut the cash reserve ratio by 50 basis points to 4%, the governor also said it is too early to assess how such punitive tariffs would impact the rupee which has already been reeling under an impact of a rally in the greenback.
Responding to a question on Trump's threat to impose 100% tariffs on goods coming in from BRICS countries, including India, if there are attempts made to undermine the dollar as world's reserve currency.
This story is from the December 07, 2024 edition of The New Indian Express Vellore.
Subscribe to Magzter GOLD to access thousands of curated premium stories, and 10,000+ magazines and newspapers.
Already a subscriber? Sign In
MORE STORIES FROM The New Indian Express Vellore
The New Indian Express Vellore
Curtains fall on Perambalur’s iconic Krishna theatre after 65 years
AFTER entertaining generations of movie lovers for over six decades, the historic Krishna theatre in Perambalur is set to close its doors this week.
1 mins
October 29, 2025
The New Indian Express Vellore
Housing ministry asks RERAs to list extensions to delayed projects
SoP recommended for better functioning
1 mins
October 29, 2025
The New Indian Express Vellore
Tejashwi stamp on Oppn’s manifesto
‘THE Opposition INDIA bloc on Tuesday released its joint manifesto that had a large photograph of chief ministerial candidate and Rashtriya Janata Dal (RJD) leader Tejashwi Prasad Yadav on its cover, and spoke of his vows for total transformation, ahead of the upcoming Bihar assembly election. It dwarfed Congress leader Rahul Gandhi’s thumbnail image on the top-left corner of cover page.
1 min
October 29, 2025
The New Indian Express Vellore
DEAL WITH RUSSIA TO MANUFACTURE PASSENGER JET
IN a first of its kind deal for India, Russia moved beyond joint defence manufacture to sign a memorandum of understanding (MoU) on building a twin-engine narrow-body passenger aircraft for short-haul flights in the country. The deal comes ahead of Russian President Vladimir Putin’s scheduled visit to India and US squeeze to end the Ukraine war.
1 min
October 29, 2025
The New Indian Express Vellore
TVS Motor PAT rises 42% to ₹795 cr, revenue from operations surges 24%
CHENNAI-based two-wheeler and three-wheeler major -TVS Motor Company — on Tuesday reported a 42% jump in consolidated net profit during the second quarter of FY26 (Q2FY26) to ₹795.48 crore, up from ₹560.49 crore in the corresponding quarter last fiscal (Q2FY25).
1 min
October 29, 2025
The New Indian Express Vellore
DIG unfit to hold office if he’s unable to take fair criticism: Seeman to court
DENYING the allegations made by deputy inspector general (DIG) of police Varun Kumar against him in a defamation suit and an accompanying application for a gag order, Naam Tamilar Katchi (NTK) chief coordinator Seeman has told the Madras High Court that the officer is “unfit” to hold public office if he is not able to bear “fair criticism”.
1 min
October 29, 2025
The New Indian Express Vellore
With rich river network, tapping national waterways will boost green logistics
IMAGINE a future India where goods glide on barges instead of trucks, logistics corridors slide along rivers instead of highways, and the carbon footprint shrinks even as trade expands.
3 mins
October 29, 2025
The New Indian Express Vellore
HC dismisses appeal against OFB corporatisation
A division bench of the Madras High Court has dismissed an appeal filed by the All India Defence Employees Federation (AIDEF) challenging the union government's decision to convert the Ordnance Factory Board (OFB) into a corporate entity fully owned by the government.
1 mins
October 29, 2025
The New Indian Express Vellore
Sharp rise in students dropout rate in TN schools
TAMIL Nadu has recorded a sharp increase in school dropout rates across three levels— primary (Classes 1-5), upper primary (6-8) and secondary (9-10) — in 2024-25, according to the latest Unified District Information System for Education Plus (UDISE+) data released by the Union Ministry of Education on Tuesday.
1 min
October 29, 2025
The New Indian Express Vellore
Murmu on ‘most modern’ Rafale sortie from Ambala today, first Prez to do so
PRESIDENT Droupadi Murmu, who is also the Supreme Commander of Armed Forces, will be taking a sortie in an Indian Air Force’s combat fighter on Wednesday.
1 min
October 29, 2025
Listen
Translate
Change font size