FinMin Nirmala Sitharaman Denies Possibility Of Complete Lockdown
Finance Minister Nirmala Sitharaman on April 13 ruled out the possibilities of a nationwide complete lockdown. In a meeting with World Bank Group president David Malpass, Sitharaman stated, "We don't want to totally arrest the economy... There shall not be lockdown." Measures would be taken at only local level to control COVID-19 cases, she added. Besides, she lauded the efforts of the World Bank for ensuring increased availability of funds… read-more
Tags: Nirmala Sitharaman, Covid-19, Complete Lockdown, NATIONWIDE LOCKDOWN
Courtesy: Hindustan Times
RBI Data Reveals a Surge In NRI Deposits At $4.86 billion in 5 Months
According to the data revealed by RBI, NRI deposits during April-August had recorded an increase and stood at $4.86 billion as compared to $4.04 billion for the same period in 2019. Bankers opined that NRIs' before leaving to India through the Vande-Bharat Mission could have transferred their deposits into NRE (non-resident external-rupee accounts). However, as the pandemic situation improves and people plan to return back, deposits are… read-more
Tags: RBI, Non Resident Indians, Covid-19, Lockdown, NATIONWIDE LOCKDOWN, Vande Bharat Mission
Courtesy: The Print
Retail Inflation Elevates due to Food Prices
Retail inflation rate has raised to 6.93% in July compared to 6.23% in June. Food prices accounted for nearly half of the retail inflation as food inflation accelerated to 9.62% according to Consumer Price Index (CPI). Food prices soared since April due to the supply disruption caused by lockdown. During the second quarter, country's headline inflation is expected to remain the same and may decline thereafter, said RBI governor Shaktikanta… read-more
Tags: RETAIL INFLATION, FOOD PRICES, CPI, RBI, NATIONWIDE LOCKDOWN
Courtesy: Times Of India