DeCEDA/Qrius 2022 was a milestone year for India. India walked into 2022 with an infectious wave of Covid-19 impacting lakhs of people, the wave receded a few weeks into the year. As hopes for a post-pandemic recovery surged, war in Ukraine brought in new challenges for the economy. With supply chains disrupted, global sanctions imposed on Russia, prices of fuel and food shot up. Inflation, already on a high from pent-up...
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Indian banks gave more home loans than agricultural credit
In each of the last three years – from 2020 through 2022 – Indian banks lent more money to retail customers purchasing homes than they did to farmers. In fiscal year (FY)2021-22 commercial banks gaveRs. 17.54 lakh crore worth of housing loans, while agriculture and allied activities got Rs. 15.16 lakh crore. That is nearly 14 percent less. In FY 2021 and FY 2020 – one of which saw a...
More »Credit growth spurs public lenders’ balance sheets to 10-year high in first half of FY23: RBI report
-The Hindu ‘Commercial banks may have to raise deposit rates more to meet a surge in credit demand; while banks have swiftly transmitted increases to lending rates, deposit rates have been laggards for most’ Under the backdrop of a highly uncertain global environment caused by globalisation of inflation, energy and food shortages, and synchronised tightening of monetary policy worldwide, the Indian economy was exhibiting signs of a gradual strengthening of the growth...
More »Global economy to feel the heat of monetary policy tightening: RBI Bulletin -Manish M Suvarna
-Moneycontrol.com Globally, central banks have been increasing interest rates to fight inflation. The global economy will bear the brunt of past monetary policy actions in 2023, the Reserve Bank of India (RBI) monthly bulletin said on December 20. "Emerging market economies (EMEs) appear even more vulnerable, having battled currency depreciations and capital outflows in addition to slowing growth and high inflation," Bulletin said. Globally, central banks have been increasing interest rates to fight inflation. RBI...
More »Wholesale inflation crashes to 21-month low of 5.85% in November
-Moneycontrol.com The drop in wholesale inflation comes two days after statistics ministry data showed the more Consumer Price Index (CPI) inflation fell far more than expected to 5.88 percent in November India's wholesale inflation fell to a 21-month low of 5.85 percent in November, according to data released by the commerce ministry on December 14. At 5.85 percent, the latest Wholesale Price Index (WPI) inflation figure is a huge 470 basis points lower...
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