For first time, RBI's rate-setting panel to discuss inflation report this week
The Hindu
The central bank has called a special meeting of the Monetary Policy Committee (MPC) on November 3
For the first time since the implementation of the monetary policy framework in 2016, the Reserve Bank will submit a report to the government on its failure to keep the retail inflation rate below six per cent for three consecutive quarters beginning January 2022.
The monetary policy framework, which came into effect about six years ago, mandates the Reserve Bank of India (RBI) to maintain retail inflation at 4 per cent with a margin of 2 per cent on either side.
In case of failure to maintain the inflation target for three consecutive quarters, the central bank, under section 45ZN of the RBI Act, is required to submit a report to the government explaining the reasons and spelling out the remedial actions it would be taking to check the price rise.
The central bank has called a special meeting of the Monetary Policy Committee (MPC) on November 3, to prepare its report on missing inflation targets to the government. The six-member rate-setting panel is headed by RBI Governor Shaktikanta Das.
"Under the provisions of Section 45ZN of the Reserve Bank of India (RBI) Act... an additional meeting of the MPC is being scheduled on November 3, 2022," the central bank said in a statement on Thursday.
Section 45ZN of the Act deals with failure to maintain the inflation target.
Governor Das had earlier said the central bank will not make the report public. It is not clear if the government too would like to keep the report confidential or make it public for wider discussions and deliberations, he had said.
Mercedes-Benz India will increase vehicle prices by up to 2% in January to counter rising costs and currency pressures.
CCI is investigating if IndiGo violated competition norms amid significant flight disruptions and concerns over its dominant market position.
The Coal Controller Organisation is appointed to regulate and register proposed coal exchanges, enhancing market competition and oversight.
The rupee hits a record low amid U.S. trade stalemate and portfolio outflows, prompting potential RBI intervention.
November 2025 sees robust growth in India's auto industry, with record sales in passenger vehicles, two-wheelers, and three-wheelers.
Stock markets soar as Sensex and Nifty extend gains in early trade, driven by positive global trends and U.S. rate cuts.
Petroleum and Natural Gas Rules 2025 amended to enhance business ease, extend lease durations, and strengthen domestic exploration infrastructure.
Tata Hitachi strengthens its focus on India's construction market amid global tariffs and rupee depreciation, leveraging local growth opportunities.
Domestic household savings replace foreign institutional money, giving Indian markets stability but raising concerns about unequal participation and limited returns for new retail investors. Access asymmetry and unequal outcomes emerge as key challenges, making investor protection, lower fees, passive investing, and stronger governance crucial.
The Ministry of Petroleum and Natural Gas (MoPNG) should work closely with the Ministry of External Affairs (MEA), and other concerned government agencies, to strengthen diplomatic engagement with oil-producing countries, secure favourable investment terms and address tax and regulatory hurdles faced by public-sector enterprises (PSEs) abroad, the parliamentary committee on public undertakings (2025-26) stated in their latest report tabled Wednesday.
Why is the rupee falling? Is it falling worse than other currencies? Does the fall hurt or help the Indian economy? And finally, is this a cause for alarm? Here we discuss these questions.
There’s great momentum in India in terms of AI and agentic AI applications getting deployed, observed Satya Nadella, Chairman and Chief Executive Officer, Microsoft.
Prada partners with Indian organizations to create a limited-edition sandal collection inspired by traditional Kolhapuri Chappals.