India’s retail inflation slowed to 5.1 per cent in January this year from 5.69 per cent in December 2023, bringing some relief to household budgets, according to official figures released on Monday.
Category: Personal Finance
RBI bulletin ups India's GDP growth forecast to 7% for Oct-Dec quarter
India’s economic activity remained resilient on the back of robust domestic demand, notwithstanding the external headwinds. Supply chain pressures in India ebbed in December and remained below historical average levels, according to the RBI’s monthly bulletin released on Thursday.
Customer benefits being kept in mind while regulating Fintechs: RBI Guv
Reserve Bank of India (RBI) Governor Shaktikanta Das said on Thursday that post-pandemic digital lending has seen an exponential rise in India and at the same time, it has also raised a host of business conduct issues on which the central bank was keeping a close watch.
RBI hikes limits for UPI payments & e-mandates, to set up cloud facility, FinTech repository
Enhancing the payment limits for Unified Payments Interface (UPI), electronic mandates, setting up of cloud facilities, the financial sector and fintech repository were some of the major announcements made by the Reserve Bank of India Governor, Shaktikanta Das on Friday.
RBI doubles gold loans limit to Rs 4L for UCBs under bullet scheme
The Reserve Bank of India (RBI) on Friday announced an increase in the monetary ceiling of gold loans that can be granted under the bullet repayment scheme from Rs 2 lakhs to Rs 4 lakhs for urban co-operative banks (UCB) who have met the overall PSL target and sub targets as on March 31, 2023.
Price of tomatoes, chilli heated up veg and non-veg thalis by 34%, 13% in July
The cost of preparing a vegetarian thali at home has gone up by 34 per cent while that of a non-vegetarian thali went up by 13 per cent in July as compared to the input prices that prevailed in June 2023, CRISIL said in a report.
Domestic investors holding declined in June quarter
According to Pranav Haldea, Managing Director, Prime Database Group, this was on account of profit booking by LIC, mutual funds as also retail and HNI investors with markets reaching all-time highs. Net inflows from DIIs stood at just Rs 3,368 crore during the quarter.
India's geopolitical position can give tailwinds for economic growth: S&P Global Ratings
India's economic growth efforts could get the tailwinds from its geopolitical position, said S&P Global Ratings in a report on the country's quest for stable and high economic growth.
Economic growth should be 7.6% annually in next 25 years for India to become developed economy: RBI report
According to the central bank's monthly bulletin, which was released on Monday, India's per capita income is currently estimated at $2,500, while it must be more than $21,664 by 2047, as per World Bank standards, to be classified as a high-income country.
GST collections rise 3% in June to Rs 1,61,497 crore
Out of the GST collected in June, CGST was Rs 31,013 crore, SGST was Rs 38,292 crore, IGST was Rs 80,292 crore (including Rs 39,035 crore collected on import of goods) and cess Rs 11,900 crore (including Rs 1,028 crore collected on import of goods).
Canada's CPI rose 3.4% in May
Statistics Canada said on Tuesday this was the smallest increase since June 2021 and the slowdown was largely driven by lower year-over-year prices for gasoline resulting from a base-year effect, Xinhua news agency reported.
RBI MPC retains repo rate at 6.5%, projects 6.5% GDP & 5.1% inflation for FY24
Not belying the expectations, the Reserve Bank of India's Monetary Policy Committee (MPC) did not change the repo rate from 6.50 per cent while projecting gross domestic product (GDP) and inflation at 6.5 per cent and 5.1 per cent respectively.
India's GDP growth in FY23 estimated at 7.2%
India's gross domestic product (GDP) growth for FY23 is estimated at 7.2 per cent, said the National Statistical Office (NSO), Ministry of Statistics and Programme Implementation on Wednesday.
Rs 2K note withdrawal won't increase gold demand or affect rupee value
The decision of the Reserve Bank of India (RBI) to withdraw Rs 2,000 denomination banknotes from circulation will not have any major impact on gold demand and also on the rupee value, experts said on Saturday.
Hike in repo rate likely to impact affordable housing
While the hike is on the expected lines, the Real Estate developers and experts said that the corresponding hike in the home loan rates is likely to impact the housing sales during the upcoming festive season.
'For durable recovery': RBI's MPC retains rates, accommodative stance
In his policy statement post the Monetary Policy Committee's bi-monthly meeting, RBI Governor Shaktikanta Das said: "The MPC flagged the potential downside risks to economic activity from the highly contagious Omicron variant."
RBI comes out with 'Special Liquidity Facility' for MFs
To ease liquidity pressure on Mutual Funds, the Reserve Bank of India on Monday decided to open a special liquidity facility (SLF-MF) worth Rs 50,000 crore.
No need to pay EMIs of home, auto, farm loans till May 31
This comes as a major relief to the retail loan borrowers including farmers whose daily work and farm activities have stopped due to the 21-day lockdown leaving them with lower or no income.
No NEFT charges for savings A/C holders from Jan 2020: RBI
The Reserve Bank of India (RBI) has directed banks not to charge savings account holders for NEFT with effect from January 2020. RTGS is meant for large-value instantaneous fund transfers while the NEFT is used for fund transfers up to Rs 2 lakh.
Tripura Economy: Agrarian to NBFCs
The trend that has been set with the introduction of Micro-finance or in other words growing operations of NBFCs (Non Banking Financial Companies) gradually is discharging a rudimentary attack upon the economic growth of the state.
'GST on 50 items of mass consumption slashed to 18%'
The GST rate on 50 items of mass consumption, that were in the 28 per cent tax slab, has been slashed to 18 per cent, Bihar Deputy Chief Minister Sushil Kumar Modi, who heads the panel of Group of Ministers for tackling IT-related glitches, said on Friday.
SBI reduces NEFT, RTGS charges upto 75%
The reduced charges will be applicable on the transactions done through internet banking and mobile banking services offered by the bank, the bank said in an official statement here on Thursday.
GST rolls out past midnight from Central Hall of Parliament
A minute after the stroke of midnight, President Pranab Mukherjee and Prime Minister Narendra Modi pressed the button to launch the new indirect tax regime on a digital screen with "GST" emblazoned on it in a golden hue.
Pay-hike bonanza by 19.68 per cent for Tripura Govt. employees
Minister Bhanulal Saha said that the average increase for the Group A employees would be rested at Rs. 15, 000, Rs. 9, 500 for the Group B employees, Rs. 5, 500 for the Group C employees and Rs. 4000 for the Group D employees.
Kajal Memorial Football Tournament: Tripura Sports School to face Mungiakami School in final
Tripura Sports school once again played with lots of dominance and continued their good record in this tournament as previously they won the title for three times.