According to a warning in an article in the most recent monthly bulletin from the RBI, the decline in inflation is predicted to be obstinate and hampered by supply shocks over the coming year. According to the article headed “Status of the Economy,” almost every other component of the consumer price index, statistical and exclusion…
The American currency’s rise abroad and a flattish trend in local markets dampened investor optimism, causing the rupee to weaken 14 paise to close at 82.84 (provisional) on Friday. The rupee depreciated 14 paise from its previous closing of 82.70 to end the day at 82.84 (provisional) on the interbank foreign exchange market. It had…
If renewable energy companies miss project completion dates, the government will place them on a three- to five-year blacklist, according to a government decree viewed by Reuters. The New and Renewable Energy Ministry issued an order that stated, “If any renewable energy project is not finished by the set date of completion, then its bank…
Despite government efforts, rupee trade has not taken off. The exchange rate mechanism and money repatriation are experiencing teething problems, according to officials from the ministry of trade. According to a representative of the trade ministry, “It hasn’t really taken off, but there are isolated situations where banks have started it.” India hasn’t, however, formally…
Applications for authorization under the 2007 Payment and Settlement Systems Act from well-known online PAs (non-bank payment aggregators), including Freecharge PayTM Payments Services, Payment Technologies, and PayU Payments, have been rejected by the Indian Central Bank (PSS Act). Also, the central bank amended the Technology Tapits application. Yet, to be fair, within 120 days of…
In response to lower trade deficit figures for the month of January, the rupee partially recovered from its initial losses on Wednesday to settle lower by 4 paise at 82.82 (provisional). Forex traders claimed that the appreciating bias was curbed by a stronger American dollar in foreign exchange markets. The rupee opened lower at 82.90…
Factory inflation, as assessed by the wholesale pricing index (WPI), decreased to 4.73 percent in January from 4.95 percent in December, following a different trend from retail inflation. Retail inflation based on the Consumer Price Index was reported by the National Statistical Office (NSO) as being 6.52 percent in January as opposed to 5.72 percent…
Rupee started the day higher versus the dollar at 82.58, up 13 paisas from its previous close of 82.72 on Tuesday as the value of the dollar against a basket of six peers remained stable. Tuesday saw a decline in the price of crude oil, helping the currency. A weaker dollar and upbeat global market…
Retail inflation measured by the Consumer Price Index (CPI) surpassed the RBI’s upper tolerance level in January after dropping for the previous two months and increased from 5.72% in December to 6.5 percent. The more expensive cereals, along with spices and other food items, are one of the main causes of the increase to a…
On Monday, the Indian rupee is anticipated to weaken due to a strong dollar and an increase in crude oil prices. The dollar is trading close to its five-week high as expectations for continued Fed policy tightening rise in the wake of the Labor Department’s revision of the CPI data upward for the previous three…
