As the Winter Session of the Parliament will convene on Monday, Union Finance Minister Nirmala Sitharaman will move several Bills, including The Banking Laws (Amendment) Bill which aims to amend the Reserve Bank of India Act, 1934, in addition with the Banking Regulation Act, the State Bank of India Act.
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.
Faced with elevated retail inflation in August, the Reserve Bank of India is expected to raise interest rates in the range of 35-50 basis points in its next monetary policy committee meeting, said SBI Research.
India's retail inflation rose to 7 per cent in August from 6.71 per cent the previous month due to a sharp rise in food prices, as per the government data released on Monday.
One issue that dogged the PSBs more than the PVBs was the unresolved issue of NPAs and cleaning up of their balance sheets.
NTT DATA Payment Services India is part of NTT DATA Corporation, one of the globally top 10 IT service providers, headquartered in Japan.
Former Chief Economic Adviser (CEA) Krishnamurthy Subramanian will be the Executive Director for India at the International Monetary Fund (IMF).
