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 Indian economy closed the financial year 2023-24 strongly despite strong external headwinds, and early indications suggest that the growth momentum will continue during the current April-June quarter of 2024-25, according to a Finance Ministry report released on Friday.
"The Board has approved the transfer of Rs 2,10,874 crore as surplus to the Central Government for the accounting year 2023-24,” the RBI has said in a statement.
In his keynote address, M. Rajeshwar Rao highlighted that sound governance provides a strong foundation for the ARCs to build a robust business model.
Gold reserves held domestically in India surged 40 per cent in the last 5 years, data from the Reserve Bank of India (RBI) said.
Prior to being promoted as an ED, Rao was serving as a Chief General Manager-in-Charge in the Department of Regulation.
