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Retail inflation dips to 5.10% in Jan, a 3-month low

Wholesale inflation

NEW DELHI, Feb 12 (Reuters) – India’s annual retail inflation, opens new tab eased to a three-month low of 5.10% in January from 5.69% in the previous month, helped by a slower rise in prices of some food items, government data showed on Monday. A Reuters poll of 44 economists had forecast inflation at 5.09%. Food inflation, which accounts for nearly half of the overall consumer price basket, was 8.30% in January, compared with 9.53% in December. Last week, Reserve Bank of India left rates unchanged, signalling that interest rate cuts may be some time away as it focuses on

RBI Governor says hardly any room to review action taken against Paytm Payments Bank

New Delhi, Feb 12 (PTI) RBI Governor Shaktikanta Das on Monday said there was “hardly any room” to review the action taken against Paytm Payments Bank. In a major action against Paytm Payments Bank (PPBL), Reserve Bank of India, on January 31, directed it to stop accepting deposits or top-ups in any customer accounts, wallets, FASTTags and other instruments after February 29. Talking to reporters in the national capital on Monday, Das said there was “hardly any room” to review the action taken against Paytm Payments Bank. He also said that RBI takes action against regulated entities only after a

Paytm confirms resignation of director at banking arm

BENGALURU, Feb 12 (Reuters) – Indian financial technology company Paytm, opens new tab on Monday confirmed media reports of an independent director at its banking arm having resigned. Manju Agarwal resigned from the board of Paytm Payments Bank on Feb. 1 due to personal commitments, the company said in an exchange filing. The payments firm on Friday said it would form an advisory committee on compliance and regulatory matters, a week after India’s central bank ordered Paytm Payments Bank to wind down most of its operations.

People not getting jobs, their pockets being robbed, says Rahul Gandhi targeting BJP-led Centre

Korba, Feb 12 (PTI) Congress leader Rahul Gandhi on Monday hit out at the BJP-led Centre while claiming that people in the country were not getting employment and were facing the wrath of inflation. Addressing a gathering in Chhattisgarh’s Korba district during his ‘Bharat Jodo Nyay Yatra’, Gandhi asked the people to wake up, claiming their pockets were being robbed and they were being misled. The backward classes, Dalits and Adivasis (tribals) comprise 74 per cent of the country’s population, but not a single person from these communities is the owner or in the management of India’s top 200 companies

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