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Volume of Rs 500 fake notes detected up 14.6% on-year in FY23, says RBI The number of counterfeit currency notes of Rs 500 denomination detected by the banking system, rose by 14.6 per cent to 91,110 pieces in 2022-23 compared to last year, according to the Reserve Bank of India’s annual report released on Tuesday. At the same ...

RBI plans new payment system to safeguard essential payments against war, calamities [ad_1] The Reserve Bank of India (RBI) has conceptualised a lightweight payment and settlement system (LPSS) that can be operated from anywhere by a bare minimum staff in the event of natural calamities and war. This new payment system will be independent of conventional technologies used for existing ...

General govt deficit moderated to 9.4% of GDP in 2022-23, says RBI report The general government deficit and debt moderated to 9.4 per cent and 86.5 per cent of GDP, respectively, in 2022-23 from the peak levels of 13.1 per cent and 89.4 per cent in 2020-21 respectively, the Reserve Bank of India has noted in its annual report ...

Bank of Baroda aims at 12-15% credit growth in FY23: Executive director State-owned Bank of Baroda (BoB) on Monday said it expects 12-15 per cent credit growth during the current financial year. During the last financial the bank recorded a credit growth of 16 per cent. “We aim at credit growth of 12-15 per cent while deposits ...

FDI equity inflow contracts 22% to $46 billion in FY23: Govt data FDI inflows decline 16% to $71 billion for first time in a decade: RBI data RBI MPC: Here is what experts have to say about the policy announcement RBI hikes repo rate by 35 bps to 6.25%, cuts FY23 GDP forecast to 6.8% FDI equity inflow contracts 15% ...

Rs 2,000 currency note withdrawal creating chaos for Indians in Gulf Several Indians in the Gulf nations are having a harrowing time ever since the Indian government decided to withdraw the Rs 2,000 notes from circulation, with a lot of them saying that the banking institutions in the region are claiming to be not aware of the policy change. ...

SBI raises $750 mn via bonds on India INX under its $10 bn MTN programme SBI, the country’s largest public sector lender, on Monday raised USD 750 million under its USD 10 billion Global Medium Note programme to fund its overseas business growth. The fund was raised at INX’s Global Securities Market (GSM), GIFT International Financial Services Centre ...

RBI may reduce policy repo rate in fourth quarter of 2024: Oxford Economics Global forecasting firm Oxford Economics on Monday said the RBI may cut key benchmark policy rate in the fourth quarter of the current calendar year as a mix of factors will allow the central bank to shift focus and adopt a more accommodative policy stance sooner. ...

RBI governor warns bank boards against overaggressive growth, evergreening RBI hikes repo rate by 35 bps to 6.25%, cuts FY23 GDP forecast to 6.8% RBI MPC: Here is what experts have to say about the policy announcement RBI MPC: When and where to watch policy announcement by Shaktikanta Das RBI Monetary Policy: Repo rate up by 25 bps, FY23 inflation ...

Microfinance loans grow 21.3% YoY to Rs 3.5 trn in FY23, says report Microfinance loans in India increased 21.3 per cent year-on-year (YoY) at Rs 3.5 trillion in Financial Year 2022-23 (FY23), backed by revised regulatory norms and higher demand. Asset quality profile improved with loans due in more than 90 days dipping to 1.06 per cent in March ...