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SBI Research anticipates Q1 GDP growth at 7.1%, in line with RBI forecast
Updated : 1 year, 6 months ago IST
Indian economy is expected to grow at 7.0-7.1 per cent in the April-June period, the first quarter of 2024-25, SBI Research said in a report, days before the government would release official data. As a caveat, its growth forecast comes with a downward bias.
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After UPI, RBI will now launch Unified Lending Interface or ULI for fricti
Updated : 1 year, 6 months ago IST
The technology platform for providing "frictionless credit" launched by the Reserve Bank of India (RBI) last year as a pilot project will be introduced nationwide soon, said Reserve Banks of India Governor, Shaktikanta Das on Monday.
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AI integration in finance sector unlocks new opportunities: Shaktikanta Da
Updated : 1 year, 6 months ago IST
Integration of artificial intelligence (AI) into financial services brings significant opportunities for all stakeholders, the Reserve Bank of India (RBI) Governor Shaktikanta Das on Monday.
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Decline in loan to deposits ratios in banks is because of lower money crea
Updated : 1 year, 6 months ago IST
One of the contributors to the decline in systemic LDR is the lower net money creation by the RBI over the fiscal year 2023-24. Cumulative net fresh money creation during this period amounted to only Rs 0.6 trillion, a contrast to approximately Rs 20 trillion created in the three fiscal year
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India's Digital Public Infrastructure experience provides effective strat
Updated : 1 year, 6 months ago IST
Reserve Bank of India (RBI) Governor Shaktikanta Das on Monday said that India's experience has provided an effective digitisation strategy for other central banks.
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India's foreign exchange reserves rose USD 4.5 billion to reach USD 674.7
Updated : 1 year, 6 months ago IST
India's foreign exchange reserves have risen by USD 4.546 billion to reach USD 674.664 billion, a touch below their all-time highs, during the week that ended on August 16, RBI data showed on Friday.
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RBI to focus on disinflation, food inflation sticky to core, says RBI's MP
Updated : 1 year, 6 months ago IST
Das said, "Inflation is gradually trending down, but the pace is slow and uneven. The durable alignment of inflation to the target of 4.0 per cent is still some distance away. Persistent food inflation is imparting stickiness to headline inflation. Inflation expectations need to be kept a
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India's Manufacturing and services sector's performance reflected in Purch
Updated : 1 year, 6 months ago IST
The Purchasing Managers' Index (PMI) for Manufacturing, stood at 58.1 in July 2024. This figure is not only significantly above the long-term average but also among the highest recorded in recent years. The sector's expansion has been primarily driven by strong demand and a surge in producti
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Financial sector should enhance digitisation in credit delivery to help MS
Updated : 1 year, 6 months ago IST
Swaminathan J, Deputy Governor, Reserve Bank of India (RBI) on Wednesday said that the financial sector should leverage digitisation in credit delivery to help Micro, Small and Medium Enterprises (MSMEs).
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PhonePe launched 'Credit Line on UPI', expanding payment flexibility for c
Updated : 1 year, 6 months ago IST
The new offering allows consumers to link their credit lines from banks to the Unified Payments Interface (UPI) on the PhonePe platform, enabling seamless merchant payments and providing a new dimension to the digital payment ecosystem.
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PM Modi congratulates RBI Governor Das on A+ rating in Global Finance Repo
Updated : 1 year, 6 months ago IST
Prime Minister Narendra Modi, on Wednesday, congratulated Reserve Bank of India's (RBI) Governor, Shaktikanta Das for bagging an A+ grade rating in the Global Finance Central Banker Report Cards 2024.
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Deposit growth of banks will pick up from coming quarters: Axis Securities
Updated : 1 year, 7 months ago IST
The credit growth in the Indian banks will continue to be more than the deposit growth, a report by the 'Axis Securities' has said while also noting that bank deposit growth will pick up in the coming quarters.
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