Ministry of Statistics and Programme Implementation (MoSPI) releases January 2026 CPI at 2.75% under new 2024=100 base
[Ministry of Statistics and Programme Implementation (MoSPI)]
Key Updates:
- Retail inflation stood at 2.75 per cent in January 2026 under the new Consumer Price Index (CPI) series with base year 2024=100.
- Year-on-year inflation based on the All India CPI (Base 2024) for January 2026 stood at 2.75 per cent (provisional) compared with January 2025.
- The corresponding inflation rates were 2.73 per cent for rural areas and 2.77 per cent for urban areas.
- Food inflation based on the Consumer Food Price Index (CFPI) stood at 2.13 per cent, with rural food inflation at 1.96 per cent and urban food inflation at 2.44 per cent.
- Housing inflation for January 2026 stood at 2.05 per cent, with rural housing inflation at 2.39 per cent and urban housing inflation at 1.92 per cent.
- The new CPI series replaces the earlier 2012 base and is based on the Household Consumption Expenditure Survey 2023-24.
- The revised framework adopts 12 consumption divisions in place of six earlier groups, in line with the Classification of Individual Consumption According to Purpose (COICOP) 2018 framework.
- The total number of weighted items has increased to 358 from 299 earlier, with goods items rising to 308 from 259 and services items increasing to 50 from 40.
- The series introduces rural house rent for the first time and strengthens coverage of modern consumption patterns such as online services and cleaner fuels like CNG and PNG.
Similar Coverage
- India’s headline retail inflation based on the Consumer Price Index (CPI) rose to 1.33 per cent in December 2025 from 0.71 per cent in November.
- Retail food prices fell 2.71 per cent year-on-year in December after falling by 3.91 per cent the previous month.
- The December 2025 retail inflation figure is the last under the existing CPI series; a new series with base year 2024 will be introduced next month.
- The October–December CPI inflation averaged ~0.8 per cent, about 20 basis points higher than the Monetary Policy Committee’s Q3FY26 forecast.
- Core inflation rose to 4.6 per cent in December from 4.4 per cent the previous month, driven by gold and silver price surges.
- Gold inflation hit a record high of 68.66 per cent and silver inflation reached 97.07 per cent in December.
- Excluding gold and silver, December CPI inflation would have been 0.26 per cent.
- The Reserve Bank of India (RBI) expects inflation to average around 4 per cent in the first half of 2026-27.
- Wholesale price inflation recorded at 0.83% in December 2025, returning to positive territory after negative readings of (-)0.32% in November and (-)1.21% in October.
- Retail inflation rose to 1.33% in December from 0.71% in November, driven by rising food prices.
- Deflation in vegetables narrowed to 3.50% in December from 20.23% in November.
- Inflation in manufactured products increased to 1.82% in December from 1.33% in November.
- Deflation in fuel and power sectors continued at 2.31% in December compared to 2.27% in November.
- Reserve Bank of India (RBI) has cut policy interest rates by 1.25 percentage points during the current fiscal year.
- RBI lowered inflation projection for the current fiscal to 2% from the earlier 2.6%.
- RBI reduced key policy interest rates by 25 basis points to 5.25% last month.
- RBI raised FY26 GDP growth projection to 7.3% from the previous 6.8%.
- India registered GDP growth of 8.2% in the September quarter and 7.8% in the June quarter.
- Headline inflation rose to 0.71% in November 2025, up from 0.25% in October.
- The All India Consumer Food Price Index (CFPI) shows a year-on-year inflation rate of -3.91% for November 2025.
- Rural headline inflation reached 0.10% in November 2025, up from -0.25% in October.
- Urban headline inflation increased to 1.40% in November 2025 from 0.88% in October.
- Fuel and light inflation stood at 2.32% year-on-year in November 2025, rising from 1.98% in October.
- Wholesale Price Index (WPI)-based inflation stood at (-)1.21 per cent in October 2025, down from 0.13 per cent in September and 2.75 per cent in October last year.
- Deflation in food articles was 8.31 per cent in October, with vegetables at 34.97 per cent, pulses at 16.50 per cent, potato at 39.88 per cent and onion at 65.43 per cent.
- Fuel and power recorded deflation of 2.55 per cent in October, marking seven consecutive months of decline.
- Manufactured products inflation eased to 1.54 per cent in October from 2.33 per cent in September.
- Retail inflation fell to an all-time low of 0.25 per cent in October, down from 1.44 per cent in September.
- The Reserve Bank of India kept the benchmark policy repo rate unchanged at 5.5 per cent in its last review.
- India Ratings and Research expects wholesale deflation in November 2025 to be under 1 per cent.
Reserve Bank of India (RBI) classifies bank loans to National Cooperative Development Corporation (NCDC) as Priority Sector Lending (PSL)
[Reserve Bank of India (RBI), National Cooperative Development Corporation (NCDC)]
Key Updates:
- The Reserve Bank of India (RBI), in consultation with the Government of India, has announced that loans sanctioned by banks to the National Cooperative Development Corporation (NCDC) for on-lending to cooperative societies are eligible for Priority Sector Lending (PSL) classification.
- This eligibility is applicable for loans sanctioned with effect from 19 January 2026.
- The classification applies to banks other than Regional Rural Banks (RRBs), Urban Cooperative Banks (UCBs), Small Finance Banks (SFBs), and Local Area Banks (LABs).
- These loans must be for purposes and activities as laid down in the Master Direction on Priority Sector Lending, 2025.
- The measure aims to strengthen the financial health, governance, and digital inclusion of cooperative banks while enhancing deposit security and credit availability.
Similar Coverage
- Rani Channamma Mahila Sahakari Bank (RCMS Bank) was honoured as the Best Profit-Making Bank in Belagavi District for 2025.
- The award was presented during the 72nd All India Cooperative Week celebrations held in Haveri.
- The Karnataka State Urban Cooperative Banks Federation, Bengaluru, presented the award.
- RCMS Bank is headquartered in Belgaum.
- The felicitation was received by the bank’s Chairperson, Preeti Kore Daddwad.
- Coop Kumbh 2025 was held in New Delhi.
- Coop Kumbh 2025 was inaugurated by Union Home and Cooperation Minister Amit Shah.
- RCMS Bank’s Professional Director, Ms. Beena Achar, highlighted the bank’s journey during Coop Kumbh 2025.
- NAFCUB Chairman Emeritus H. K. Patel was present at the award event.
- The Reserve Bank of India (RBI) released final guidelines on transaction account directions.
- The final guidelines removed restrictions on cash credit (CC) accounts.
- The revised rule permits any lending bank with more than 10% exposure to open a current or overdraft account for the borrower.
- In situations where no bank or only one bank meets this threshold, the two lenders with the largest exposure will be allowed to operate such accounts.
- The requirement to transfer funds from collection accounts to designated transaction accounts within two working days remains unchanged.
- The guidelines will come into effect from April 1.
- The central board of the Reserve Bank of India (RBI) has approved a proposal to transition to a risk-based pricing system for deposit insurance.
- The new model replaces the uniform premium currently charged to banks under the Deposit Insurance and Credit Guarantee Corporation (DICGC) scheme.
- Under the existing flat-rate system, banks pay a premium of 12 paise for every Rs 100 of assessable deposits.
- The proposed framework will charge lower premia to banks with stronger capital adequacy, better asset quality, and sound governance, while weaker banks will pay higher rates.
- The DICGC, established under the DICGC Act, 1961, has operated the deposit insurance framework on a flat-rate basis since 1962.
- RBI Governor Sanjay Malhotra introduced the reform measures alongside the October monetary policy decision to help better-rated banks save significantly on premium costs.
- The Reserve Bank of India (RBI) has issued the Urban Co-operative Banks – Licensing, Scheduling and Regulatory Classification Guidelines, 2025.
- The RBI stated that no fresh proposals for the organization of new UCBs or the conversion of cooperative credit societies into UCBs are being considered.
- A four-tiered regulatory framework has been adopted for UCBs based on deposit size as of March 31 of the preceding financial year.
- Tier 1 UCBs include all unit UCBs, salary earners’ UCBs, and other UCBs with deposits up to ₹100 crore.
- Tier 2 UCBs are defined as those with deposits of more than ₹100 crore and up to ₹1000 crore.
- Tier 3 UCBs consist of those with deposits of more than ₹1000 crore and up to ₹10,000 crore.
- Tier 4 UCBs include those with deposits exceeding ₹10,000 crore.
- UCBs transitioning to a higher Tier are allowed a glide path of up to two years to comply with higher regulatory requirements.
- To be included in the Second Schedule to the RBI Act, 1934, a UCB must maintain Tier 3 deposit levels for two consecutive years.
- UCBs seeking scheduling must maintain a Capital to Risk-Weighted Assets Ratio (CRAR) of at least three per cent more than the minimum requirement.
- The eligibility for scheduling also requires the absence of major regulatory and supervisory concerns based on the latest RBI inspection or audited financials.
Ministry of Education (MoE) reports 31 per cent decline in Indian students studying abroad between 2023 and 2025
[Ministry of Education (MoE)]
Key Updates:
- According to data shared by the Ministry of Education (MoE) in the Rajya Sabha, the number of Indian students travelling overseas for higher education fell from 9.08 lakh in 2023 to 6.26 lakh in 2025.
- The Bureau of Immigration under the Union Home Ministry recorded 7.7 lakh students going abroad in 2024, representing a cumulative decline of nearly 31 per cent over the three-year period.
- Minister of State for Education Sukanta Majumdar cited affordability, access to bank loans, and aptitude for specific disciplines as key determinants for overseas study decisions.
- Major study destinations including the United States (US), United Kingdom (UK), Canada, and Australia have implemented tighter immigration rules, higher financial proof requirements, and caps on certain visa categories.
- The MoE linked the decline to domestic strengthening of higher education under the National Education Policy (NEP) 2020, focusing on infrastructure, accreditation, and research.
- A total of 14 foreign institutions have received approval to set up campuses in India, while five overseas universities have been cleared to operate in GIFT City, Gujarat.
- The University of Surrey is among the international institutions that have announced plans to establish a physical presence in India.
- Indian students are increasingly diversifying to alternative destinations such as Germany, Ireland, and France due to lower tuition costs and clearer post-study work frameworks.
Similar Coverage
- Delhi has emerged as the world's most affordable city for international students, ranking first globally in the Quacquarelli Symonds (QS) Best Student Cities 2026 report.
- The report titled India's 155 Million Student Mandate was released by Knight Frank, Deloitte India, and QS.
- Mumbai is ranked 11th and Bengaluru is ranked 15th globally in the affordability parameter for students.
- The rankings assessed 150 cities across six categories including affordability, employer activity, university ranking, city desirability, student voice, and student mix.
- India is home to the world's largest 18-23 age cohort, comprising nearly 155 million young adults.
- The report notes that India is transitioning from a traditional outbound student market to a core geography for offshore university campuses.
- National Statistics Office (NSO) will conduct a Survey on Migration during July 2026-June 2027 to update migration data.
- Periodic Labour Force Survey (PLFS) 2020-21 recorded an all-India migration rate of 28.9 percent.
- PLFS 2020-21 showed male migration rate at 10.7 percent and female migration rate at 47.9 percent.
- Marriage accounted for 86.8 percent of female migration while 22.8 percent of male migration was for employment or better employment.
- Ministry of Statistics & Programme Implementation (MoSPI) organises migration surveys to inform policy on urban planning, housing, transportation, employment, social security and skill development.
- NITI Aayog proposes allowing foreign higher education institutions to set up campuses in Indian institutions under the ‘campus within a campus’ model with a sunset clause of 10 years.
- It calls for easing regulations for mobility of inbound and outbound students by simplifying visa processes, reducing documentation burdens, and addressing regulatory bottlenecks.
- The report recommends establishing a National Research Sovereign Wealth Impact Fund named Bharat Vidya Kosh with a suggested $10 billion corpus—50% from diaspora or philanthropy and 50% matched by the Government of India.
- It proposes a scholarship programme ‘Vishwa Bandhu Scholarship’ for international students for 2-year master’s programmes offering study-based internships, competitive stipends, tuition support, research grants, accommodation, travel allowance, and health insurance.
- The United Nations Conference on Trade and Development (UNCTAD) released the Global Investment Trends Monitor report highlighting global investment shifts.
- Foreign Direct Investment (FDI) inflows to India increased by 73 per cent to reach USD 47 billion in 2025.
- The surge in India was primarily driven by large investments in services including finance, Information Technology (IT), and Research and Development (R&D), as well as manufacturing.
- Global FDI reached an estimated USD 1.6 trillion in 2025, representing a 14 per cent increase from the previous year.
- FDI inflows to China declined for the third consecutive year, falling by 8 per cent to an estimated USD 107.5 billion.
- The United States remained the world’s largest FDI recipient, recording a 2 per cent increase in inflows during 2025.
- India ranked 7th globally as a host country for data centre projects, while France, the United States, and the Republic of Korea occupied the top three positions.
- Total greenfield investment in data centres surpassed USD 270 billion, accounting for more than one-fifth of all investment projects globally.
- Cross-border Mergers and Acquisitions (M&A) activity declined by 22 per cent to USD 132 billion, despite growth in the semiconductors and telecommunications sectors.
- The total value of international project finance increased by 7 per cent to USD 218 billion, although activity in this segment declined in India and Egypt.
- Major global financial centres including the United Kingdom, Luxembourg, Switzerland, and Ireland added more than USD 140 billion to the global FDI total.