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 Reserve Bank of India (RBI) on Wednesday issued a draft circular on issuance of debit, credit, and prepaid cards, directing that card issuers shall issue cards across more than one card network and also give an option to customers to choose from any one among the multiple card networks.
A RBI panel has suggested that in the long run, India will achieve higher level of trade linkages with other countries, as a result of which the rupee is likely to reach a level where it would be widely used, and proposed the currency’s inclusion in International Monetary Fund’s (IMF) Special Drawing Rights (SDR) basket.
The Delhi High Court on Monday dismissed a Public Interest Litigation (PIL) seeking direction to quash the Reserve Bank of India's (RBI) decision to withdraw the Rs 2000 denomination banknotes from circulation.
Celebration of National Statistics Day, Das said, provides an opportunity for sensitising the general public, especially the younger minds, about the discipline of statistics.
The RBI, the extended arm of the government, which licenses the banks, has full responsibility to ensure full protection to bank deposits. The government therefore needs to regulate fully and protect all deposits in all banks because the deposits belong to the depositing public no matter whether the bank is privately owned, governmentowned, or a cooperative
