Tomato, onion, potato, fuelling food inflation; may push retail inflation to 6% in FY24: SBI
SBI Research also pointed out that if tomato prices continue to increase, CPI based inflation – retail inflation – will touch 6%, which is the upper tolerance limit of the Reserve Bank of India.
WPI inflation cools down to -3.48% in May; lowest since November 2015
Wholesale inflation for manufactured products declined to -2.97% in May from -2.42% in April. Wholesale inflation for food products declined from 0.17% in April to -1.59% in May.
RBI survey says consumer confidence up; sentiment on jobs, inflation still negative
The latest round of the survey was conducted between May 2 to May 11, 2023, covering 6,089 respondents.
NRIs can now pay utility, other bills of their families in India
RBI, in its latest MPC meet, enables Bharat Bill Payment System to accept cross-border inward bill payments. It'll greatly benefit senior citizens in particular
Currency in circulation up 9.9% to over ₹31 lakh cr in FY22: RBI
The ₹2,000 note share continues to drop in FY22; in value terms, the share of ₹500 and ₹2,000 notes together rose to 87.1% of total value of banknotes in circulation.
After World Bank, IMF cuts India’s FY23 GDP forecast to 8.2%
Russia’s invasion of Ukraine and high inflation have forced the IMF to slash global growth forecast from 6.1% in 2021 to 3.6% in 2022 and 2023.