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.
Central banks remain steadfast and data-dependent in their fight against inflation.
IIFL Finance reported 6 per cent decline in consolidated net profit to Rs 431 crore for the March quarter as the RBI barred the financial services firm from undertaking gold loan business.
The Reserve Bank of India (RBI) on Friday announced the inclusion of auto replenishment facility of FASTag, NCMC and UPI Lite wallet balances under the e-mandate facility.
Reserve Bank of India's (RBI) Governor Shaktikanta Das on Friday said the Monetary Policy Committee (MPC) has decided to keep the policy rate unchanged for the eighth time in a row at 6.5 per cent.
This follows the RBI's announcement, detailed in a Press Release from May 19, 2023, about the withdrawal of these high-value notes from circulation.
