Blog

Volume of bank notes in circulation increased by 4.4% during 2022-23: RBI The value and volume of banknotes in circulation increased by 7.8 per cent and 4.4 per cent, respectively, during 2022-23 as compared with 9.9 per cent and 5 per cent, respectively, in 2021-22, revealed the RBI annual report released on Tuesday. In value terms, the share ...

India’s fiscal deficit target of 5.9% for FY24 at risk, warns Nomura Budget 2023-24: Centre to target higher capex but lower fiscal deficit Fiscal deficit target for FY24 to be kept at 5.8-5.9% in Budget: Report Centre’s fiscal deficit for April-November period at 58.9% of FY23 target Finance ministry likely to target fiscal deficit of 5.5-6% in FY24 Budget RBI ...

Digital Rupee: RBI plans to expand CBDC pilot to include more banks and locations [ad_1] The Reserve Bank of India (RBI) wants to expand the ongoing pilot of the Central Bank Digital Currency (CBDC) and incorporate various use cases and features in 2023-24. In its annual report for 2022-2023, the central bank said, “During 2023-24, the Reserve Bank aims at ...

Banking fraud cases grow to 13,530 in FY23, amount halved to Rs 30,252 cr The number of frauds in the banking sector went up to 13,530 in 2022-23 year-on-year, but the amount involved nearly halved at Rs 30,252 crore, showed a Reserve Bank data released on Tuesday. Frauds occurred predominantly in the category of digital payments (card/internet), in ...

These 5 banks will offer QR Code-based Coin Vending Machines [ad_1] At the MPC meeting in March, Shaktikanta Das made the announcement that coin vending machines using QR codes would soon be available in 12 cities. The RBI governor stated that this will improve the ease of access to coinage and the distribution of coins utilising machines. Coins are currently ...

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% ...