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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

Maratha quota: Manoj Jarange continues fast for 3rd day, claims govt sidestepping core issue

Jalna, Feb 12 (PTI) Activist Manoj Jarange on Monday accused the Maharashtra government of diverting the core issue of Maratha reservation and claimed it was considering a separate quota for the community. Jarange continued his indefinite fast at his native Antarwali Sarati village in Jalna district for the third day on Monday over his demand that a special session of the Maharashtra legislature be convened to convert the draft notification on “blood relatives” of Kunbi Marathas into a law. In December last year, Chief Minister Eknath Shinde said a special session of the state legislature will be held in February,

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.

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