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 remarks came amid the Reserve Bank of India (RBI)’s ban on Paytm Payments Bank, a subsidiary of One 97 Communications.
The stock cracked to Rs 608.80 on the BSE on Thursday and at the NSE, it tumbled 19.99 per cent to hit the lowest trading permissible limit for the day of Rs 609.
As a result, it expects a worst-case impact of Rs 300 crore (USD 36.12 million) to Rs 500 crore to its annual earnings before interest, tax, depreciation and amortisation (EBITDA).
Life Insurance Corporation of India Ltd can now own up to 9.99% stake in HDFC Bank as the Reserve Bank of India has approved the insurer’s application.
A bench of Justice Mahesh Chandra Tripathi and Justice Prashant Kumar observed this while disposing of a petition filed by one Manmeet Singh.
