Rising food prices push up wholesale price inflation in Sep to touch a 7-month high at 1.3%. This is led by prices of potatoes and pulses. Retail inflation is at 8-month high at 7.34% in Sep. This leaves a bleak chance for RBI to cut rates.
RBI cut GDP growth forecast for FY22 to 9.5% from earlier estimate of 10.5% due to impact of Covid, leaving markets to retreat from new peaks; key policy rates left unchanged.
Coming into effect from Dec, the round-the-clock RTGS service will facilitate innovations in the large value payments ecosystem.
SBI chairman Dinesh Khara hints at retail and home loan interest rates lowering; HDFC chairman Keki Mistry explains why he feels demand for homes will be on the upsurge.
Indian economy may break out of contraction and turn positive during January-March, said RBI governor Shaktikanta Das.
The court said the Centre's affidavit on waiving "interest on interest" (compound interest) on loans up to Rs 2 crore needs to be submitted as it was not satisfactory.
Credit policy usually gets announced on 1 Oct. But as 3 external members of MPC could not be replaced after their terms expired, no meeting of the rate-setting panel could take place before 1 October.
After a surprise cancellation of the credit policy meet scheduled for 1 Oct, Govt appoints Ashima Goyal, Shashanka Bhide and Jayanth Varma to RBI's rate-setting panel.
