-Newsclick.in Three transformative steps could dramatically change this dire situation – provided Modi Govt. has the will to take them. Wage growth of households has declined from 8.2% in 2012-2016 to 5.7% in 2017-2021, according to a fresh study by a ratings agency. It will actually be even lower – around 1% - if inflation is taken into account. This slowing down of wage growth has happened in both rural and urban...
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At India’s Climate, Finance and Policy Intersection, Big Infra Remains King -Amitanshu Verma
-TheWire.in * As of last year, financial institutions from India were the third-largest investors out of six countries financing 80% of the world’s coal investments. * A 2021 report found that ICICI, the State Bank of India, Axis Bank, Trust Group and HDFC were among the fourth-biggest group of financiers of coal-based projects worldwide. * Indian commercial banks’ large-scale investment in Big Infra has exposed the Indian people’s savings and personal investments to...
More »Bank credit growth accelerates to 14.2% in June quarter
-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...
More »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...
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