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.
Several questions were raised over the sudden rush of people in exchange for Rs 2000 notes and ED, Economic Offense Wing Officials are investigating the matter.
The Indian rupee is facing headwinds as higher yields on US bonds and rising crude oil prices in the global market have firmed up the demand for dollars.
Governor Das discussed the multifaceted challenges confronting the global economy, emphasizing the intricate balance required in policymaking amidst these complexities.
he RBI has slapped a Rs 5.39 crore fine on Paytm Payments Bank for not complying RBI guidelines related to know your customer (KYC) norms and not reporting incidents of cyber security breaches in time.
In the ever-fluctuating realm of economics, forecasts serve as guiding stars for policymakers, investors, and citizens alike.
