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The Indian economy is likely to hit a roadblock with rising vegetable prices, particularly tomatoes, pushing headline inflation above the RBI's tolerance limit of 6% in July. This development comes amidst a resilient global growth, with global GDP growth projected at 2.5% in 2023, and a disinflationary
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The Indian economy witnessed a 16.3% year-over-year (YoY) growth in non-food bank credit, excluding credit extended to the Food Corporation of India, in June 2023. This growth rate accelerated from 15.6% in May, driven by increased credit to agriculture, industry, services, and personal loans. Notably, credit growth to
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Policymakers in India are facing growing pressure to raise the retail inflation target as sticky pulses and cereal prices continue to drive up inflation, despite easing vegetable price pressures. Nomura analysts predicted that India's retail inflation will surge to 6.0-6.5% in July and August, breaching the
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The Indian rupee has shown resilience, strengthening against the US dollar despite market caution ahead of the US Federal Reserve's monetary policy decision this week. The rupee's appreciation is partly due to investor expectations of another interest rate hike by the US Fed. Meanwhile, India'
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Avinash Nair Ajay Patel, a civil engineer by profession and known for his close association with Union Home Minister Amit Shah, has been appointed as the President of the Gujarat Chamber of Commerce and Industry (GCCI). Patel, who is already a senior vice-president at the GCCI, has taken over as
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Loan-seekers are often targeted by scammers who promise quick and hassle-free loans with exorbitant interest rates and hidden fees. These ads can be found on social media, unsolicited emails, and even Google search results. According to the Reserve Bank of India (RBI) booklet on financial fraudsters, scammers create counterfeit advertisements
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Retail inflation accelerated faster than expected to a three-month high of 4.8% in June due to rising food prices, potentially delaying the likelihood of monetary easing. Economists said vegetable price shocks may result in inflation exceeding the Reserve Bank of India's (RBI) Monetary Policy Committee forecast of
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Indian equity benchmarks continued to trade higher in morning deals, led by gains in Metal, Energy, and Auto stocks, as traders took support with reports of multi-year lows in non-performing advances (NPAs) of banks, primarily driven by substantial write-offs by state-owned banks. The Reserve Bank of India also reported a
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Indian stock markets opened the session with a positive bias, influenced by the broader indices being in the green. The BSE Mid cap and Small cap indices rose by 0.41% and 0.57%, respectively. However, a cautiousness crept in the markets due to the Reserve Bank of India'
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The Reserve Bank of India (RBI) has slapped a ₹65 lakh penalty on AP Mahesh Cooperative Urban Bank (APMCUB) for non-compliance with the Cyber Security Framework for Primary (Urban) Cooperative Banks. In January 2022, hackers breached the bank's security systems, siphoning off ₹12.48 crore. An investigation by
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The Reserve Bank of India (RBI) has issued its financial stability report, citing strong macroeconomic fundamentals that are supporting sustained growth momentum in the country. The report notes that the Indian economy has been resilient, with moderate inflation and anchoring of inflation expectations, a narrowing current account deficit, and rising
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The Reserve Bank of India recently released its balance of payments (BoP) data for January-March 2023, shedding light on the changes in foreign exchange reserves during 2022-23. According to these data, the foreign exchange reserves saw a decline, with the sources of this variation detailed in Table 1. The current
