Liquidity Woes
India’s banking sector is grappling with a significant liquidity crunch, one that threatens not only financial stability but also the broader economy.
India’s banking sector is grappling with a significant liquidity crunch, one that threatens not only financial stability but also the broader economy.
India's foreign exchange reserves fell by $5.7 billion to $634.59 billion for the week ended January 3, data released by the Reserve Bank of India (RBI) on Friday showed.
The Reserve Bank has lifted its ban on the 'sanction and disbursal of loans' by Asirvad Micro Finance and DMI Finance Pvt Ltd, in a big relief to the two microfinance companies, according to an RBI circular issued on Wednesday.
India's Gross Domestic Product (GDP) is projected to grow at 6.4 per cent in the financial year 2024-25 down from 8.2 per cent growth recorded in 2023-24, according to the first advance estimates released by the Ministry of Statistics on Tuesday.
A total of 98.12% of the Rs 2,000 bank notes in circulation as on May 19, 2023, have been returned at the close of business on December 31, 2024.
Notably, the board of Reserve Bank of India (RBI), last week decided to transfer a record Rs 2.1 trillion dividend to the government out of the profits earned in fiscal 2023-24.
Last week, Nifty Bank surged 2 per cent following the announcement by the Reserve Bank of India (RBI) of giving a dividend of Rs 2.11 lakh crore to the government.
India’s next government, buoyed by an unprecedented windfall of Rs 2.11 lakh crore from the Reserve Bank of India (RBI), faces a crucial decision that could shape the nation’s economic trajectory.
The Indian economy closed the financial year 2023-24 strongly despite strong external headwinds, and early indications suggest that the growth momentum will continue during the current April-June quarter of 2024-25, according to a Finance Ministry report released on Friday.
"The Board has approved the transfer of Rs 2,10,874 crore as surplus to the Central Government for the accounting year 2023-24,” the RBI has said in a statement.
