-MoneyControl.com The CPI-based inflation in September 2021 was at 4.35 percent and in October 2020 it was 7.61 percent. India’s retail inflation rate, which is measured by the Consumer Price Index (CPI), rose to 4.48 percent in the month of October 2021, data released by the Ministry of Statistics and Programme Implementation (MoSPI) revealed on November 12. There was a marginal increase in retail inflation in October due to an uptick in food...
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RBI imposes severe restrictions on this bank, imposes Rs 1,000 cap on withdrawals — check details
-PTI/ Financial Express As per the directions, the bank shall not, without the prior approval of the RBI, grant or renew any loans and advances, make any investment, incur any liability, and disburse or agree to disburse any payment. The Reserve Bank of India (RBI) on Friday imposed several restrictions on Laxmi Cooperative Bank Ltd, Solapur, including a Rs 1,000 cap on withdrawals for customers, due to deterioration in its financial position. The...
More »Demonetisation left RBI’s reputation in tatters. What could future policy makers learn from this? -TR Bhat
-Scroll.in There must be consultation and greater co-ordination between the Reserve Bank as the regulator of money supply and the government as the sovereign. While the entire Indian economy was disrupted by the demonetisation exercise announced on November 8, 2016, removing high-value currency notes overnight, it simultaneously stirred a serious controversy on the role of Reserve Bank of India as the principal regulator of money supply in India. In understanding the controversial conduct...
More »Five Years Since Demonetisation, Value Of Cash In Circulation Up 64% -Animesh Singh
-NDTV.com (with inputs from Agencies) The value and volume of bank notes in circulation had increased by 16.8 per cent and 7.2 per cent, respectively, during 2020-21 Though the government had launched its sudden move of demonetisation to cull out black money by weeding out currency notes worth 500 and 1,000 rupees denomination out of the system, on November 8, 2016, the notes in circulation in value terms have increased by 64...
More »Stop chasing profits at customers' expense, RBI Deputy Governor tells MFIs
-The Hindu The RBI deputy governor reminded the industry that their customers often have lower level of financial awareness and literacy and ‘are often too desperate to turn away any source of credit’. Micro-finance lenders must refrain from chasing profits and introspect on the ‘negative consequences’ of pushing their borrowers into a debt trap, using harsh recovery practices and harassing customers as this could undo the sector’s progress, a top central banker...
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