New Delhi: The Indian economy is recovering faster than expected. As a result, the Reserve Bank’s interest rate policy is likely to be cut off. This is according to Oxford Economics, an international rating agency. Inflation is expected to rise by more than 7 percent in the fourth quarter of the current fiscal. But the Reserve Bank may keep interest rates stable during its December monetary policy review, the agency said. Earlier, Moody’s also said that India’s economy would shrink. The economy has been hit hard by lockdowns and shutdowns in the country due to the corona epidemic. In the first quarter of the current financial year, growth slowed to about 24 percent.Foreign exchange reserves exceed $ 56 billion Mumbai: In the wake of the Karona epidemic, India’s foreign exchange reserves are on the rise. In the week ended November 7, India’s foreign exchange reserves increased by $ 6.6 billion to $ 57.6 billion. This is according to information released by the Reserve Bank. Foreign exchange reserves stood at $ 540.715 billion last week.
