India's retail inflation surges to 7.4% in July due to vegetable prices

India saw a significant upsurge in its consumer price index (CPI) inflation, reaching a 15-month peak of 7.44 percent this month. This spike was primarily attributed to elevated prices of food and vegetables. Notably, the July CPI reading surpassed the Reserve Bank of India's upper tolerance threshold of 6 percent, marking the first breach in five months. Additionally, on Monday, ITC announced the approval of a scheme of arrangement among ITC, ITC Hotels, and their respective shareholders and creditors. This arrangement falls under Sections 230 to 232 of the Companies Act, 2013, along with other applicable provisions. Watch the video for more updates on business today.