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 RBI had announced the withdrawal of Rs 2,000 denomination banknotes from circulation on May 19, 2023 as part of its clean note policy.
Reserve Bank of India (RBI) Governor Shaktikanta Das on Wednesday expressed grave concern over the high “concentration” of credit that NBFCs were availing from banks to finance their lending operations and said this has emerged as “a risk” in the system.
The Reserve Bank of India approved the resolution plan for debt-ridden Reliance Capital on Friday.
There are many collaboration opportunities between India and Japan in semiconductors and resilient supply chains, rare-earths extraction, space technology, artificial intelligence, quantum computing, said RBI Governor Shaktikanta Das in Tokyo on Thursday.
Federal Bank was penalised as it issued some demand drafts, each for a value of rupees fifty thousand and above, without incorporating the name of the purchaser on the face of it.
