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New York Times faces accusations of biased reporting from India’s Modi administration

The New York Times faces Indian government backlash for criticisms of Hindutva policies in J&K. In an opinion piece in NYT, executive editor Anuradha Bhasin accused PM Modi's administration of stifling press freedom. Federal minister for information and broadcasting, Anurag Thakur, retaliated, labeling the piece "mischievous and fictitious" and accusing foreign media of spreading lies about India and its PM. The articles provoked heated reactions from the Indian government, which has clashed with the US outlet since Modi came to power in 2014.

Indian rupee edges closer to becoming an international currency as RBI approves accounts in 18 countries

India's central bank, RBI, has granted approval for opening 60 special rupee vostro accounts in 18 countries, including Russia, Sri Lanka, and the UK, to facilitate international trade in Indian rupees. The move is part of India's efforts to boost exports and promote the use of the Indian rupee as an international currency amid a growing trend of de-dollarization in global trade.

Women and Men in urban India turn to self-employment, says NSO report

According to a report released by the National Statistical Office, the share of salaried persons in urban India dipped due to the pandemic. The recovery was faster for men at 46.2% than for women at 50.3%. Despite falling from pre-pandemic levels, the services sector continued to provide the bulk of employment opportunities to women in urban areas, especially in real estate, finance, legal, administration, and social work. The report showed that men continued to dominate the trade, hotel & restaurant, manufacturing, and other non-farm sectors in urban areas.111

India and UAE central banks to pilot cross-border CBDC transactions

The Reserve Bank of India (RBI) and the Central Bank of the United Arab Emirates (CBUAE) signed an MoU to enhance cooperation and innovation in financial products and services, including exploring interoperability between their respective central bank digital currencies. The two central banks will collaborate on various areas of Fintech and jointly conduct pilot programmes on CBDCs, with the aim to facilitate cross-border transactions of remittances and trade and increase the efficiency of cross-border transactions between India and the UAE. The agreement also includes technical collaboration and knowledge sharing on fintech-related matters.