-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 »No proposal to charge UPI payments, says FinMin -Shayan Ghosh
-Livemint.com The Centre put to rest speculation following a recent RBI discussion paper on digital payment charges MUMBAI: The finance ministry on Sunday said the government is not planning to charge for payments through the unified payments interface (UPI) channel, putting to rest speculation following a recent Reserve Bank of India (RBI) discussion paper on digital payment charges. “UPI is a digital public good with immense convenience for the public and productivity gains...
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 »Rupee Co-operative Bank’s collapse leaves many depositors in distress -Siddhi Nayak
-Moneycontrol.com Rupee Co-operative Bank's depositors are dealing with financial hardships and navigating family emergencies as they struggle to access their own money In the 1990s, Virendra Kumar Joping’s father, a small-time carpenter, came to Pune from Rajasthan to earn a living. Over the years, he saved his hard-earned money by opening a fixed deposit in Rupee Co-operative Bank. Rupee Co-operative Bank was among the trusted names in Pune. Little did the Joping family...
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