The WPI inflation was in the negative zone from April to October and had turned positive in November at 0.26 per cent.
Six economists predicted inflation to be at or above 6.4%, the top tolerance limit of the RBI’s inflation-targeting mandate, according to Mint. Predictions in the poll ranged from 5.5% to 6.4%.
SahiBandhu Gold Loans says that because of high demand, gold prices will go up even more in 2024.
Till December 28 this year, the 30-share BSE Sensex has jumped 11,569.64 points or 19 per cent.
Global steel demand, which has been subdued since the onset of the Russia-Ukraine conflict, is expected to grow 1.6 per cent in 2023, after a sharp fall of 3.3 per cent in 2022, the global analytics company said.
Rajan also underlined the need for governance reforms with focus on decentralisation and improving democratic institutions.
According to Fitch Ratings, the adjustments are reflective of changes in production, demand-supply balances, and market conditions across key commodities.
The rate increase cycle was paused in April after six consecutive rate hikes, aggregating to 250 basis points since May 2022.
RBI in its past three meetings – April, June, and August — held the repo rate unchanged at 6.5 per cent.
RBI Governor Shaktikanta Das-headed Monetary Policy Committee (MPC) started its three-day meeting on Wednesday, and the policy review will be announced on Friday morning.
According to a World Bank report released on Tuesday, India continues to show resilience against the backdrop of a challenging global environment.
There are now 23 Indian government bonds that are index-eligible, with a total notional value of USD 330 billion.
Last week, the Finance Ministry also rejected claims that the GDP was overstated, claiming that it had consistently computed economic growth using income side estimates.
Gross collection of direct taxes (before adjusting for refunds) for 2023-24 is estimated at Rs 9,87,061 crore, up from Rs 8,34,469 crore for the same period in the previous fiscal year, a growth of 18.29 percent.
The company said it is geared up to cater to this anticipated surge with its enhanced warehousing and service delivery capabilities.
The other banks which the agency rated BBB- with stable outlook are Punjab National Bank, Canara Bank, Bank of India, and Union Bank of India.
Speaking at the foundation day celebration of Bandhan Bank, Mistry said the housing sector also generates huge employment and has a better credit risk profile than other segments.
RBI’s next monetary policy meeting is scheduled for early October.
The RBI’s move comes as part of its ongoing efforts to ensure that borrowers are treated fairly and to address customer grievances arising from divergent practices in the imposition of penal charges.