Deposit Insurance and Credit Guarantee Corporation settled claims amounting to Rs 8,516.6 crore during 2021-22 of about 12.94 lakh depositors of liquidated banks, merged entities and those placed under restrictions by the Reserve Bank. All commercial banks, including branches of foreign banks functioning in India, local area banks, regional rural banks, small finance banks and … Read more
Even as digital payments are logging steep double digit growth, cash currency in the system continues to post strong growth. Growth in currency in circulation in the one year to October at Rs 2.7 lakh crore, or 9 percent rise, was higher than Rs 2.3 lakh crore, or 8.5 percent, in the same period previous … Read more
The country’s foreign exchange reserves rose $2.4 billion during the week ended July 29 after declining for four consecutive weeks as foreign portfolio investors returned back to the Indian markets as net investors. “India’s foreign exchange reserves were placed at $ 573.9 billion as on July 29, 2022” said RBI governor Shaktikanta Das, in his … Read more
The country’s foreign exchange reserves declined by USD 7.541 billion to USD 572.712 billion in the week ended July 15 as the Reserve Bank continued to intervene in the market to curb the fall of the rupee. In the previous week ended July 8, the reserves shrunk by USD 8.062 billion to USD 580.252 billion, … Read more
The government’s total liabilities rose 3.74 per cent to Rs 133.22 lakh crore in the March quarter from Rs 128.41 lakh crore in the three months ended December 2021, according to the latest public debt management report. In absolute terms, the total liabilities, including liabilities under the ‘Public Account‘ of the government, jumped to Rs … Read more
India’s external debt rose 8 percent in FY’22 to $620.7 billion as short-term debt rose 20 per cent during the year. But debt to GDP ratio declined marginally to 19.9 percent, according to the latest data released by the Reserve Bank of India. While long term debt rose 5.6 per cent to $499 billion, short-term … Read more
The Rupee which has been facing the heat due to withdrawals by portfolio investors, has another trouble brewing – maturing external debt of Indian companies. About 43.1 percent or $267 billion worth of external debt of the $620.7 billion amounting to 44 percent of country’s foreign exchange reserves comes up for maturity this fiscal, according … Read more
The rupee, which Tuesday fell to a new record low on unabated withdrawals by portfolio investors amid tightening global monetary conditions, could face further pressure as record external debt comes up for repayment through the course of this fiscal year and the next and India’s trade gap widens. More than 40%, or $267 billion worth … Read more
The RBI’s regular market operations in sync with the monetary policy stance helped the banking system to balance the financing needs of the various sectors of the economy during the Covid-hit 2020-21, said a study published by the central bank on Thursday. The RBI Working Paper titled ‘Banks’ Credit and Investment Dynamics: Assessing Portfolio Rebalancing … Read more