India's retail inflation surged near an 8-year high to 7.79 per cent in the month of April, breaching the upper limit of the Reserve Bank of India's (RBI's) target range for the fourth consecutive time, according to data released by the Ministry of Statistics and Program Implementation on Thursday.
The Reserve Bank of India (RBI) has a wide range of policy options to combat any sharp depreciation in the rupee value against the US dollar. The rupee is currently trading at 77.55 against the US dollar.
A recent report has stated that the median salary increments this year is likely to be around 8.13 per cent as India has recovered from the after-effects of COVID-19 related disruptions.
/ India's largest automaker Tata Motors on Thursday reported narrowing of net loss to Rs 1,032.84 crore for the quarter ending 31 March, 2022. The firm had posted a net loss of Rs 7,605.40 crore a year earlier.
Benchmark indices extended losses for the fifth consecutive session today amid weak global cues. Sensex and Nifty tanked over 2 per cent each, tracking selling in index majors HDFC twins, Reliance Industries and ICICI Bank. Investors remained cautious ahead of announcement of inflation rate for April and industrial production data for March.
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