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                  Inflation Rate in India: December 2022             Inflation is crucial to determine one’s purchasing power. In other words, inflation is a measure that causes the prices of both goods and services to rise over time and buyers will feel the pinch as it affects their personal finance, particularly spending and buying habits.             Any factor that causes prices of goods and services to rise in the market and create instability in consumption lead to inflation. Economists suggest that  achieving inflation  that’s moderate enough to drive consumption will create a baseline of growth in the economy. However, high inflation indicates that an economy is facing serious troubles; whereas, low inflation, a.k.a. deflation is equally worrisome. How to Calculate Inflation Rate...

            Recent Developments of Banking Sector in India   1.       Introduction: Banking in India originated in the last decades of the 18th century. The first banks were The General Bank of India, which started in 1786, and Bank of Hindustan, which started in 1790; both are now defunct. The oldest bank in existence in India is the State Bank of India, which originated from the Bank of Calcutta in June 1806, which almost immediately became the Bank of Bengal. Presidency Banks, acted as quasi-central banks,  the other two being the Bank of Bombay and the Bank of Madras, the three banks merged in 1921 to form the Imperial Bank of India, which, after India's independence, became the State Bank of India in 1955.Following independence, the RBI was given broad regulatory authority over commercial banks in India.   By the 1960s, the Indian banking industry had become an important tool to facilitate the developm...