-The Hindu The RBI has estimated a 7.1% inflation rate for the July to September quarter India’s retail inflation touched 7% in August, up from 6.71% in July, fuelled by a 7.62% pick-up in food prices paid by consumers, even as industrial production growth in July had dropped to the lowest level since April at just 2.4%, with output levels dropping 2.75% month-on-month. This is the eighth successive month that retail inflation...
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Monetary policy alone can’t tame inflation: FM -Vikas Dhoot
-The Hindu Growth impulses also need to be ‘unfettered’ in current situation, says Sitharaman In a barely veiled signal to Mint Street, Finance Minister Nirmala Sitharaman said on Thursday that monetary policy tools like interest rate increases deployed by several central banks would not suffice to cool inflation and suggested that the Reserve Bank of India need not synchronise its actions ‘as much’ with its counterparts in developed countries. While monetary policy as...
More »Rupee Co-operative Bank’s collapse leaves many depositors in distress -Siddhi Nayak
-Moneycontrol.com Rupee Co-operative Bank's depositors are dealing with financial hardships and navigating family emergencies as they struggle to access their own money In the 1990s, Virendra Kumar Joping’s father, a small-time carpenter, came to Pune from Rajasthan to earn a living. Over the years, he saved his hard-earned money by opening a fixed deposit in Rupee Co-operative Bank. Rupee Co-operative Bank was among the trusted names in Pune. Little did the Joping family...
More »CAG raises concerns over Centre’s ballooning debt, interest burden
-The New Indian Express Meanwhile, data released by the department of economic affairs in the Finance Ministry showed interest paid on debt has increased to Rs 8.05 lakh crore in FY22 from Rs 6.80 lakh crore in FY21. NEW DELHI: The Comptroller and Auditor General (CAG) of India have raised concern over increasing Central government debt as several indicators gauging the sustainability of debt have turned unfavourable since 2015-16. The CAG in...
More »Macrovariable projections in uncertain times -Arun Kumar
-The Hindu International factors and faulty data will impact India’s projections of GDP, inflation and balance of payments The Fed has raised its benchmark interest rate again by a whopping 0.75%. The Reserve Bank of India has also been forced to raise interest rates further but also take other steps. These decisions in the Monetary Policy Committee (MPC) meeting are based on what the members of the MPC see as the likely...
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