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May 5: Inflation hasn`t lost grip

  • May 5: Inflation hasn`t lost grip

    May 5: Inflation hasn`t lost grip

  • <p><b>A fruit seller arranges fruits inside his shop at a market in Srinagar</b></p><p>India&#39;s food price index rose 8.53% and the fuel price index climbed 13.53% in the year to April 23, government data on Thursday showed.</p><p>In the previous week, annual food and fuel inflation stood at 8.76% and 13.53%, respectively.</p><p>The primary articles price index was up 12.11%, compared with an annual rise of 12.08% a week earlier.</p><p>The Reserve Bank of India raised interest rates by a bigger-than-expected 50 basis points on Tuesday, its ninth rate hike since March 2010, in a bid to moderate stubbornly high inflation.</p>

    A fruit seller arranges fruits inside his shop at a market in Srinagar

    India's food price index rose 8.53% and the fuel price index climbed 13.53% in the year to April 23, government data on Thursday showed.

    In the previous week, annual food and fuel inflation stood at 8.76% and 13.53%, respectively.

    The primary articles price index was up 12.11%, compared with an annual rise of 12.08% a week earlier.

    The Reserve Bank of India raised interest rates by a bigger-than-expected 50 basis points on Tuesday, its ninth rate hike since March 2010, in a bid to moderate stubbornly high inflation.

  • <p><b>A cashier counts currency notes inside a bank in Lucknow</b></p><p>Banks have witnessed a negative growth in loans so far in the current financial year, as is typical at the beginning of a financial year.</p><p>The outstanding loans fell by 0.5% to Rs 39.2 lakh cr as of April 22 from Rs 39.4 lakh cr as of March 25.</p><p>Deposits, on the other hand, rose Rs 1.15 lakh cr or 2.2% to Rs 53.2 lakh cr in the same period.</p><p>Typically, banks take large number of short-term loans at end of a quarter to shore up their balance sheet. These loans mature at beginning of the next quarter, leading to lower credit growth numbers.</p><p>On-year bank loans grew 22% and deposits 18%.</p><p>Banks&#39; loan demand usually remains muted in the first half of a financial year.</p>

    A cashier counts currency notes inside a bank in Lucknow

    Banks have witnessed a negative growth in loans so far in the current financial year, as is typical at the beginning of a financial year.

    The outstanding loans fell by 0.5% to Rs 39.2 lakh cr as of April 22 from Rs 39.4 lakh cr as of March 25.

    Deposits, on the other hand, rose Rs 1.15 lakh cr or 2.2% to Rs 53.2 lakh cr in the same period.

    Typically, banks take large number of short-term loans at end of a quarter to shore up their balance sheet. These loans mature at beginning of the next quarter, leading to lower credit growth numbers.

    On-year bank loans grew 22% and deposits 18%.

    Banks' loan demand usually remains muted in the first half of a financial year.

  • <p><b>Mukesh Ambani, Chairman and Managing Director, Reliance Industries (RIL), attends a session at the World Economic Forum (WEF) in Davos</b></p><p>RIL plans to invest up to $12 billion in the chemicals business to tap the market for hygiene and healthcare products and will look at developing a new rubber business, Chairman Mukesh Ambani said.</p><p>"We believe that hygiene will be a very big market in a rapidly prospering India where people&#39;s aspirations are rising," Ambani, the world&#39;s ninth-richest man according to Forbes, said.</p>

    Mukesh Ambani, Chairman and Managing Director, Reliance Industries (RIL), attends a session at the World Economic Forum (WEF) in Davos

    RIL plans to invest up to $12 billion in the chemicals business to tap the market for hygiene and healthcare products and will look at developing a new rubber business, Chairman Mukesh Ambani said.

    "We believe that hygiene will be a very big market in a rapidly prospering India where people's aspirations are rising," Ambani, the world's ninth-richest man according to Forbes, said.

  • <p><b>Labourers work at an electric pylon in New Delhi</b></p><p>India&#39;s power demand is seen rising 55.6% to 1,400 billion kilowatt hours (bkwh) by the end of next five year plan period, that ends in March 2017, Power Secretary P Umashankar said on Thursday.</p><p>He said the country needs to add 100,000 megawatt of generation capacity during the period to meet the expected demand.</p>

    Labourers work at an electric pylon in New Delhi

    India's power demand is seen rising 55.6% to 1,400 billion kilowatt hours (bkwh) by the end of next five year plan period, that ends in March 2017, Power Secretary P Umashankar said on Thursday.

    He said the country needs to add 100,000 megawatt of generation capacity during the period to meet the expected demand.

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