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 visit of Dr Raghuram Rajan, a former Governor of Reserve Bank of India, and a former Chief Economic Advisor, has generated a great deal of controversy.
India's foreign currency assets (FCA), the biggest component of the forex reserves, rose USD 8.349 billion to USD 545.048 billion
The transactions entail substitution of direct loan exposure of REs to borrowers, with indirect exposure through investments in units of AIFs.
The IMF reclassified India’s foreign-exchange regime to a stabilised arrangement from a floating system, it said in its annual Article IV country report.
The Bank will soon be integrating with the Ministry of Railways to operationalise the pension disbursement process.
