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.
Reserve Bank of India Governor Shaktikanta Das on Friday proposed to enable UPI for cash deposit facility.
Reserve Bank of India (RBI) Governor Shaktikanta Das at the Monetary Policy Committee (MPC) meeting on Friday announced the policy rate unchanged at 6.5 per cent.
The results of the auctions will be announced on the same day and the payment by the successful bidders will be made on April 8.
He was speaking at the opening ceremony of RBI@90, a programme marking 90 years of the Reserve Bank of India (RBI) in Mumbai.
“The RBI must address the aspirations of the youth and develop ‘out-of-the-box’ policies for all these emerging sectors to help the youth,” urged the PM.
