The Consumer Price Index (CPI) inflation for October is recorded at 6.21 per cent on year-on-year basis. Corresponding inflation rates for rural and urban are 6.68 per cent and 5.62 per cent, respectively, Ministry of Statistics and Programme Implementation (MoSPI) said on Tuesday.
India’s inflationary pressures are back in the spotlight, as food prices surge amid unpredictable weather patterns and shifting global dynamics.
Speaking at a media event, the Governor assured that the RBI is prepared to act with strength and agility, likening the Indian economy to a tiger for its resilience amid fluctuating global conditions.
The total value of these banknotes in circulation was Rs 3.56 lakh crore at the close of business on May 19, 2023, when the withdrawal of Rs 2000 banknotes was announced, which means less than 2 per cent of them are still in circulation.
However, gold reserves, which form part of the foreign exchange kitty, increased by $1.08 billion to $68.53 billion during the week, according to the central bank.
Gold held domestically surged more than 102 tonnes between April and September this year to 510.46 metric tonnes, against 408 metric tonnes at the end of March.
India’s economic outlook remains resilient, but it’s clear that a complex interplay of global and domestic pressures demands careful navigation.
The initial public offering (IPO) of fintech company MobiKwik may hit a significant roadblock with the new rules for P2P lending implemented recently by the Reserve Bank of India (RBI) and these can affect the company's business too.
Reserve Bank of India (RBI) Governor Shaktikanta Das received an award for A+ grade in Central Bank Report Cards 2024, for the second consecutive year.
Dr. Rumki Majumdar from Deloitte India said that India’s economy is emerging with resilience as the dust settles after a high-stakes elections period.
