Food inflation remains the biggest headache for the apex bank as it slows the process of disinflation. With a weight of around 46 per cent in the CPI basket, the food inflation contributed to more than 75 per cent of the headline inflation in May and June
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Industry leaders have expressed optimism for the economic growth, Anish Shah, President of the Federation of Indian Chambers of Commerce and Industry (FICCI) praised the RBI's revised outlook.
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The decision comes amidst a backdrop of economic uncertainties both domestically and globally
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