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.
The RBI on Monday announced that it has cancelled the licenses of two non-banking financial companies (NBFCs) for violating its guidelines.
The Reserve Bank of India (RBI) has cancelled the licence of Banaras Merchantile Co-operative Bank Limited, Varanasi.
The total value of Rs 2000 banknotes in circulation, which was Rs 3.56 lakh crore at the close of business on May 19, 2023, has declined to Rs 7,581 crore at the close of business on June 28, 2024.
Under this Framework, the Reserve Bank of India would enter bilateral swap agreements with the central banks of SAARC countries, who want to avail of the swap facility.
The benchmark indices closed at fresh record highs on Tuesday led by gains in banking and IT stocks coming a day after RBI data showed the current account surplus stood at USD 5.7 billion.
