The ministry's comments come weeks after data showed retail inflation in July rose to its highest in 15 months, as vegetable and cereals prices skyrocketed.
The RBI observed that many lenders charge penal rates over and above the applicable interest rate on loans in case of defaults that breach the terms of credit facilities.
Central govt's capital expenditure has seen strong growth. State finances present an encouraging picture with better tax revenue collections & improved capex spending.
The central bank said it found 'several' instances of 'unreasonable elongation of tenor' of floating rate loans by lenders without proper consent and communication to the borrowers.
The total value of Rs 2,000 notes in circulation declined to 3.56 trillion rupees as of 19th May from 3.62 trillion rupees as on 31st March, the central bank said in a statement.
The wholesale price index (WPI) in June fell 4.12%; lowest since September 2015. RBI keeps interest rates on hold, stable rates expected by economists till 2023.
This year, govt announced that 2nd and not 3rd revised estimates would be final. Here’s inside story on how this was achieved without compromising on quality of data.
Discussion about outcome of Lok Sabha polls continues to boil in cauldron of expectations only from BJP. Now reverse this equation, what if we asked about the performance of the 'loser'?
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