RBI Bulletin – October 2026
Today, the Reserve Bank released the October 2026 issue of its monthly Bulletin. The Bulletin includes two speeches, four articles and current statistics. The four articles are: I. State of the Economy; II. Transmission to Lending Rates of SCBs: Price versus Composition Effects in WALR; III. Performance of the NBFC Sector: Review for 2025; and IV. Nowcasting State-Level Economic Activity in India with Night-Time Light and Google Trends. I. State of the Economy Renewed geopolitical frictions in West Asia and supply chain disruptions have amplified inflationary pressures, prompting major central banks to raise policy rates. Elevated sovereign bond yields in advanced economies (AEs) have also brought into focus concerns about fiscal sustainability and its implications for financial stability. The Indian economy continued to demonstrate strength as evidenced by high-frequency indicators across both industry and services. The headline Consumer Price Index (CPI) inflation edged up in September driven by a broad-based increase in food, fuel, and core components. Double-digit growth in merchandise exports during the first six months of 2026-27 helped in narrowing the trade deficit. FDI, EC
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