Retail inflation rises marginally to 9.75%
the financial system.
Accordingly, the CRR or the portion of deposits banks have to park with the RBI now stands at 4.25 per cent, while the repo rate, at which RBI lends to the system, has been retained at 8 per cent.
The reverse repo, at which RBI absorbs excess liquidity through borrowings from banks, remains at 7 per cent.
Meanwhile, industrial growth has slipped in the negative territory at 0.4 per cent in September, compared to a growth of 2.5 per cent in the same month last year, which indicates persistent sluggishness in the economy.
Reuters
India's annual consumer price inflation (CPI) rose in October to 9.75 percent, government data showed on Monday.
India's retail inflation is the highest among the BRICS group of emerging economies Brazil, Russia, China, and South Africa - and is way above what the Reserve Bank of India (RBI) calls its comfort level.
Food prices for consumers fell to 11.43 percent in October from 11.6 percent in September.
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