FY23 bank credit growth highest since FY12, up 15%,: RBI data: According to the Reserve Bank of India (RBI) data, the Bank credit rose by 15% year-on-year (YoY) in 2022-23 (FY23), against 9.6% YoY in 2021-22 (FY22). FY23 credit growth is the highest since 2011-12, when it was 19.3%. Bank deposits expanded 9.58% YoY in FY23, against 8.9% YoY […]
FY23 bank credit growth highest since FY12, up 15%,: RBI data Read More »
RBI keeps repo rate unchanged at 6.50%: The Reserve Bank of India (RBI) has announced its bimonthly monetary policy and kept the repo rate unchanged at 6.50%. April 2023 Current Affairs Quiz The GDP is expected to jump 6.5% in the current financial year. Retail inflation is expected to moderate to 5.2% in FY2023-24. The standing deposit facility (SDF) would remain unchanged at 6.25%, and the
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RBI appoints Neeraj Nigam as executive director: On April 3, the Reserve Bank of India (RBI) announced the appointment of Neeraj Nigam as the new executive director (ED). Nigam was previously the regional director of the bank’s Bhopal office and will now take on his new role as ED. The RBI made this announcement through
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Reserve Bank of India (RBI) Foundation day – 1st April: The Foundation Day of the Reserve Bank of India is celebrated on 1st April every year.About Reserve Bank of IndiaRBI was established on April 1, 1935 as per the provisions of the Reserve Bank of India Act, 1934. It started functioning from 1 April 1935. The central office of the Reserve Bank was
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RBI has allowed banks from 18 countries to trade in rupee: The Reserve Bank of India (RBI) has allowed banks from 18 countries to open Special Vostro Rupee Accounts (SVRAs) for settling payments in Indian rupees, according to a statement by the government to the Rajya Sabha on Tuesday. Union Minister of State for Finance
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“Governor of the Year” for 2023: The Reserve Bank of India’s Governor, Shaktikanta Das, has been named “Governor of the Year” for 2023 by Central Banking, an international economic research journal. The publication praised Das for his steady leadership during challenging periods, including the collapse of a significant non-banking company, the initial and second waves
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RBI imposes restrictions on Musiri Urban Co-operative Bank : RBI has imposed a Rs 5,000 cap on withdrawals by individual customers from Tamil Nadu-based Musiri Urban Co-operative Bank. March 2023 Current Affairs QuizReason: It is a part of several restrictions imposed on the lender due to its deteriorating financial condition. The restrictions on the lender will remain in force
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RBI’s new pilot project on coin vending machines: During the most recent Monetary Policy Committee (MPC) address, RBI Governor Shaktikanta Das stated that the apex banking regulator, in collaboration with banks, would launch a pilot project to evaluate the operation of a QR-code based coin vending machine. February 2023 Current Affairs Quiz More about the
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Bank credit growth slowed to 16.8% in third quarter: RBI- Bank credit growth slowed down to 16.8% in the October-December 2022 period from a year earlier, RBI data showed. According to the Reserve Bank of India’s quarterly statistics on bank deposits and credit, this compares to 17.2% in the previous quarter. A year earlier, credit
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RBI scraps licence of MP-based Garha Co-operative Bank: The licence of Madhya Pradesh’s Garha Co-operative Bank, Guna, was withdrawn by the Central Bank of India (RBI) due to insufficient capital and earning potential. According to a statement from the RBI, approximately 98.4% of the depositors of the cooperative bank are eligible to receive the full
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