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 598th meeting of the central board was held under the chairmanship of Governor Shaktikanta Das," the RBI said in a statement.
India's foreign exchange reserves on Friday fell by $3.85 billion to $524.52 billion for the week ending on October 21, according to the latest data released by the Reserve Bank of India (RBI).
The Reserve Bank of India (RBI) has expressed optimism that headline inflation is set to ease from its September high, albeit stubbornly, on the back of easing momentum and favorable base effects.
This praise for India's cash transfer scheme comes as the country continues to maintain its position as the fastest-growing major economy in the world.
The governor of the Reserve Bank of India (RBI), Shaktikanta Das, launched a new 'SupTech' initiative Daksh - the central bank's advanced monitoring system - which is expected to make the supervisory processes more robust.
