Retail inflation falls to 2.82% in May, lowest since February 2019

India's CPI-based retail inflation dropped to 2.82 per cent in May, the lowest since February 2019, led by food price easing and reinforcing the RBI's recent rate cuts
Delhi

Try Our AI Features

Explore what Daily8 AI can do for you:

Learn with AIFact CheckingText to SpeechAI Summary

Related Articles

Business Standard

29 minutes ago

• Business Standard

Warburg in talks to sell 10% stake in SBI General to Premji Invest, SBI

Premji Invest and New York-based Warburg Pincus agreed to buy 16.01 per cent and 9.99 per cent of SBI General Insurance, respectively, in 2019 from Insurance Australia Group Ltd Bloomberg By Baiju Kalesh and Manuel Baigorri Warburg Pincus is in talks with Premji Invest and State Bank of India about selling them its stake of about 10 per cent in SBI General Insurance Co., according to people familiar with the matter. The firm is finalizing details of an agreement with Premji Invest — the family office of Wipro Ltd. founder Azim Premji — and State Bank of India, the people said, asking not to be identified because the talks are private. A transaction could value SBI General Insurance at as much as $4.5 billion, the people said. Discussions are ongoing and no final decision has been made, the people said. Warburg Pincus declined to comment. Premji Invest and State Bank of India didn't respond to requests for comment. Premji Invest and New York-based Warburg Pincus agreed to buy 16.01 per cent and 9.99 per cent of SBI General Insurance, respectively, in 2019 from Insurance Australia Group Ltd. in a transaction that was completed in 2020. Based in Mumbai, SBI General Insurance was established in 2009 and offers non-life insurance products including health, motoring, home and travel, according to its website. State Bank of India owns around 70 per cent in the company.

Mint

39 minutes ago

• Mint

Italian energy major Eni sells 20% stake in renewable arm Plenitude to Ares for $2.3 billion: Details here

Italian energy group Eni SpA has sold a 20 per cent holding in its renewable business Plenitude to Ares, a US-based alternative credit management firm The deal is set at about $2.3 billion, marking the holding company's second sale of a stake in the unit, reported Bloomberg. The transaction is based on the value of Plenitude's equity shares, which is around $11.4 billion. The enterprise value stood at more than $13.7 billion, the renewable business said in a statement. Eni said in May it was in exclusive talks with the company over the sale, the news agency said. 'The valuation of Plenitude has positive implications for the stock as it allows further value to be unlocked in one of Eni's satellites,' reported Bloomberg citing Massimo Bonisoli, an analyst at Equita Group SpA. The company completed the sale of 10 per cent of Plenitude to Energy Infrastructure Partners earlier this year. Eni shares remained stable as of 10:33 am local time, while the Milan stock index fell by 0.6 per cent. Eni stock initially gained as much as 0.9 per cent. The energy major has said it also plans to sell stakes in its businesses in biofuels and mobility arm Enilive, where US-based KKR & Co bought a 25 per cent holding earlier this year. It is in exclusive talks for a stake in its carbon capture and storage unit, the news agency said. Milan-based Plenitude was set up to hold Eni's energy retailing and renewables businesses. Initial plans for a public listing of Plenitude have been put on hold. Ares, an alternative asset manager overseeing nearly $550 billion, has recently opened an office in Milan, Italy's financial hub, in order to expand its business in that market.

Time of India

40 minutes ago

• Time of India

Retail credit grows at slower pace in Q4 of FY25: Report

The retail credit market continued to see a softening in the last quarter of 2024-25, as new loan originations (partly a measure of credit demand and supply) grew at a slower rate of 5 per cent in March 2025 against 12 per cent a year ago, according to a report. The slowdown was despite the RBI slashing its benchmark lending rate by 25 basis points to 6.25 per cent in February. This and other factors pushed the Credit Market Indicator (CMI) to a two-year low of 97, according to TransUnion CIBIL 's June 2025 Credit Market Report. A higher CMI reading indicates improving credit market health, while a lower reading indicates a decline. "The muted demand was more pronounced among consumers 35 years old or younger. Consequently, the share of New-to-Credit (NTC) consumers that lenders supplied decreased by three percentage points during the same period, given that a large share of younger consumers constitute the NTC segment," it said. Live Events However, it said, signs of improving credit performance emerged, particularly through consistent month-over-month declines in credit card delinquencies from January to March 2025. The slowing of credit demand from younger consumers was evident from the fall in the share of enquiries from those aged 35 years or younger to 56 per cent for the quarter ending March 2025, down from 58 per cent in the quarter ending March 2024. The report said across all other loan products, with the exception of personal loans, the growth in volume was lower than the growth in value, which indicates a preference for higher-value loans. The increases in the share of high-ticket home and two-wheeler loans indicate a preference among lenders for loans backed with high-value assets. Home loans above Rs 1 crore grew 9 per cent year-over-year (YoY) during the quarter ending March 2025, compared to a negative growth of 7 per cent for the entire home loan segment in the year-ago period, the report said. Similarly, two-wheeler loans above Rs 1.5 lakh grew 7 per cent YoY during the quarter ending March 2025 against a negative growth of 1 per cent a year ago. Economic Times WhatsApp channel )