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.
In comparison, for the year 2022, FDI in India stood at USD 29.11 billion, with FDI by India reaching USD 9.35 billion during the same April-November period.
In the ever-evolving landscape of financial technology (fintech), India has taken a decisive step by urging fintech firms to create a self-regulatory organisation (SRO), as outlined in the recent draft framework by the Reserve Bank of India (RBI).
The RBI has asked internal ombudsmen of banks, NBFCs, and credit information companies (CICs) to provide inputs for enhancing internal systems and processes in order to ensure a more effective redress of customer grievances.
Comments on the draft circular are invited from NBFCs, HFCs and other stakeholders by February 29, 2024.
Reserve Bank of India Governor Shaktikanta Das on Thursday said that the central bank's position on crypto remains unchanged and pointed out that the emerging markets cannot take 'cryptomania'.
