-PTI/ The Hindu RBI says credit growth has been broad-based, outpacing deposit growth Bank credit growth accelerated to 14.2% in the quarter ended June 2022 from 6% in the same period of the previous year, RBI data showed on Thursday. In the quarter ended March 2022, bank credit had expanded by 10.8%. The Reserve Bank of India (RBI) on Thursday released the 'Quarterly Statistics on Deposits and Credit of SCBs for June 2022'. This...
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Public sector banks have ensured financial inclusion, finds a new empirical study
Are public sector banks (PSBs) important for the economy? Have the PSBs served the purpose for which they were created? Could the PSBs compete efficiently against the private sector banks (PVBs)? These are some of the questions, which have been answered by a chapter in the RBI Bulletin's August edition. Efficiency of PSBs Co-authored by Snehal S Herwadkar, Sonali Goel, and Rishuka Bansal (2022) of the Banking Research Division, Reserve Bank of...
More »CPI inflation for farm, rural workers up in July
-The Hindu Business Line CPI-AL increases to 6.60 per cent, CPI-RL up to 6.82 in July Retail inflation for farm workers and rural workers rose further in July, driven by an increase in food prices. The All-India Consumer Price Index based inflation for Agricultural Labourers (CPI-AL) and Rural Labourers (CPI- RL) increased to 6.60 per cent and 6.82 per cent in July, 2022 respectively. CPI- AL was at 6.43 per cent in June this...
More »RBI Bulletin: A big bang approach to PSB privatisation may do more harm than good
-Moneycontrol.com The study also suggests that market confidence tends to be in favour of PSBs in terms of crisis. The latest Reserve Bank of India (RBI) bulletin published on August 18 suggests that a big bang approach to privatisation of government-owned banks may do more harm than good. A paper published in the bulletin analyses various pros and cons of privatisation and identifies how an emerging economy like India may face more challenges...
More »Cereal inflation would be hard to tame amidst low rice acreage
Is India going to face inflation in cereal prices during the rest of the current financial year? Experts differ on this. An analysis by Nomura Global Economics and CEIC finds that a below normal monsoon does not always translate into high retail inflation in food. Similarly, an above normal southwest monsoon does not always bring down the rate of food inflation. However, some agricultural experts (please click here, here and...
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