Finance Ministry May Ask RBI to Limit Commodity Trading Credit Amid Inflation Surge

  • In response to a 15-month high in retail inflation, India’s Finance Ministry may request RBI to restrict loans for sensitive commodity trades
  • Controls could be imposed under Sections 21 and 35A of the Banking Regulation Act to curb speculative holding and price rises.
  • India’s retail inflation hit a 15-month peak of 7.44% in July, surpassing RBI’s 6% upper tolerance level.
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