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 Reserve Bank of India (RBI) on Thursday announced to mandate all Regulated Entities (REs) to provide the ‘Key Fact Statement’ (KFS) to the borrowers for all retail and MSME loans.
The MPC started its three-day meeting on February 6, and concluded with the RBI Governor's address.
Tthe Reserve Bank of Indiais likely to maintain the policy repo rate at 6.50 per cent for the sixth consecutive meeting, economists predict as the central bank is set to have its Monetary Policy Committee (MPC) meet on Thursday.
These banks include Axis Bank, Survoday Small Finance Bank, ICICI Bank, Bandhan Bank, YES Bank and IndusInd Bank.
Domestic markets will focus on the RBI policy meeting in the coming week.
