-Deccan Chronicle Mumbai: The Reserve Bank Of India is concerned about the slow deposit growth and how banks would support double-digit credit growth amidst tightening liquidity. The issue was discussed on Wednesday when RBI governor Shaktikanta Das met managing directors and chief executive officers of public sector banks and key private sector banks. A banker who attended the meeting said, "It was a routine meeting that takes place half yearly. We discussed...
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RBI was consulted on demonetisation, says Centre
-The Telegraph Decision was kept closely guarded to root out the menace of black money, money laundering, tax evasion and other illegal activities: Modi government The Centre on Wednesday defended the 2016 demonetisation policy, saying “the withdrawal of the legal tender character of a significant portion of total currency value was a well-considered decision” taken after extensive consultations with the RBI. The decision was kept closely guarded to root out the menace of...
More »Six years since demonetisation, cash with public at record high of ₹30.88 lakh crore
-PTI/ The Hindu The intent of the move, which was criticised by many experts for poor planning and execution, was to make India a "less cash" economy. Currency with the public has jumped to a new high of ₹30.88 lakh crore as of October 21, illustrating that cash usage is still robust even six years after the demonetisation move. At ₹30.88 lakh crore, the currency with the public is 71.84% higher than the...
More »MSMEs drive growth in bank credit to industry
-Financial Express The credit outstanding to industry stood at Rs 32.4 trillion as of September 23, according to the data. The banking sector lending to industry has picked up, led by disbursals to the micro, small and medium enterprises (MSME) sector. Bank credit to industry improved 12.6% year-on-year in September, compared to a muted 1.7% growth in the same month last year, data released by the Reserve Bank of India (RBI) showed. Banks’...
More »Production-linked incentives: Dole or incentive? -Shwweta Punj
-IndiaToday.in The production-linked incentive scheme has helped boost India's mobile exports but is yet to show results in some other sectors. Agility and ease of doing business in its implementation will determine its success For over a decade, the share of manufacturing in India’s GDP has remained in the 15-17 per cent range, with various measures by the present and past governments barely helping the needle move. A recent effort to give...
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