RBI will conduct a $5 billion USD/INR swap auction on May 26 to inject liquidity.
Banks give dollars to RBI and receive rupees. After 3 years, the swap reverses with a small premium.
Result: More rupee liquidity for lending and stronger dollar reserves to support the rupee.
π¨ YouTube CEO Susan Wojcicki steps down after nine years.
Indian-American Neal Mohan is the new CEO of YouTube.
Neal, a Stanford graduate, joined Google in 2008.
Small difference in ability can lead to enormous difference in results. The difference between the top performers and average or mediocre performers is not a huge difference in talent or ability. Often it is just a few small things done consistently and well, over and over again.
India is launching first pilot of retail digital rupee (CBDC) pilot today on December 1, 2022 in four cities Mumbai, Delhi, Bengaluru and Bhubaneswar with the banks SBI, IDBI, ICICI, Yes Bank.