Mint Digest: Retail inflation moderates in May to 7.04%, no ban on rice export and more | #cybersecurity | #cyberattack

CPI inflation moderates in May to 7.04%

Retail inflation eased in May from the eight-year high it hit the previous month but remained well above the central bank’s upper tolerance level, adding pressure on policymakers to tame unrelenting price rise.

Consumer Price Index inflation moderated to 7.04% in May from 7.79% in April, helped by slower increases in food prices. (Read more)

No plans to curb rice exports, says Centre

India has sufficient rice stocks and there are no plans to restrict exports of the grain, food secretary Sudhanshu Pandey said. Export restrictions on wheat and sugar had led to speculation that rice could be the next commodity to be put under the restricted category. (Read more)

Monthly instalment bounce rates fall to more than 3-yr low

Bounce rates, or defaults in paying equated monthly instalments (EMIs), fell to a 38-month low of 22% by value in May, well below pre-covid levels of 24-25% and near June 2019 levels as most borrowers keep repaying dues on time. (Read more)

Malaysian hacker group targets govt’s IT infra

Dragon Force, a Malaysian hacktivist group, has called upon hackers around the world to target the Indian government’s information technology (IT) infrastructure with cyber attacks. On June 10, the group expressed its intent via a post on its Twitter, terming this move as a “special operation”. (Read more)

Dividend paying PSU banking stock turns ex-dividend today. Details here

Indian Bank is going to turn ex-dividend today as the board of directors of the public sector undertaking (PSU) bank has fixed record date for dividend payment on 15th June 2022. The board of directors of the bank in its meeting held on 11th May 2022 had fixed record date for dividend payment of 6.50 per equity share for the financial year 2021-22. (Read more)

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