Reserve Bank of India

EghtesadOnline: An Indian bank has received the authorization of the Reserve Bank of India –the country’ central banking institution–to invest in Iran in rupees as part of the initiative by the Asian superpower to strengthen economic ties with Iran.

EghtesadOnline: The Indian commerce ministry has pitched for resumption of the Asian Clearing Union (ACU) mechanism of payment with Iran in order to promote bilateral trade.

EghtesadOnline: Roiled by fears of a possible conflict with Pakistan, markets in India haven’t been terribly stable in recent days. But at least one source of anxiety has happily been alleviated. Investors are confident that Tuesday’s monetary policy statement from the Reserve Bank of India -- the first since the departure of former governor Raghuram Rajan -- will signal continuity, not change.