RBI Injects ₹40,000 Cr Into The Indian Banking System
The Indian banking system recently experienced a liquidity deficit of ₹2 lakh crore, with an average deficit of ₹1.5 lakh crore as of January, the RBI data shows. To address this deficit, the Reserve Bank of India injected around ₹40,000 crore into the banking system. The RBI used bids worth ₹30,760 from the overnight variable…
Yash Sharma
India’s GDP Expected To Grow At 6.4% In The FY25
On January 7, 2025, the centre released estimates for India’s GDP (Gross Domestic Product) growth rate in the current fiscal year. According to this estimation, the country’s GDP is predicted to grow at 6.4% in the fiscal year 2024-25, marking a four-year low and a sharp decline from 8.2% in FY24. A recent report from…
Vikas
Private Banks At Risk Due To High Employee Attrition
The Reserve Bank of India (RBI) reported high employee attrition among private sector and small finance banks (SFBs). It has grown by 25%, posing a significant risk to operational activities. This increased employee attrition can significantly disrupt customer services, result in a loss of institutional knowledge, and increase recruitment costs. The RBI stressed on several…
Vipin
Sanjay Malhotra Is The New Face Of RBI Leadership
The centre cabinet committee notified on Monday that Sanjay Malhotra had been appointed as the new governor of the RBI (Reserve Bank of India). Before this, he worked as a revenue secretary for the Ministry of Finance; Mr Malhotra will become the 26th governor of the RBI. Sanjay Malhotra, a 1990-batch Rajasthan cadre IAS Officer,…
RBI’s 5th Monetary Policy For The Financial Year 2024-25
After a two-day meeting of the MPC (Monetary Policy Committee) amid worrying headline inflation and GDP (Gross Domestic Product) figures, the 5th monetary policy of the current financial year 2024-25 will be unveiled today. Shaktikanta Das, the Governor of the RBI (Reserve Bank of India), will unveil the policy. This review will offer a framework…
Historic Kotak Mahindra Deal With Standard Chartered
The CCI (Competition Commission of India) approved Kotak Mahindra’s deal with Standard Chartered to secure its personal loan book worth Rs 4,100 Crore on November 26. According to this proposal, Kotak Mahindra’s India branch will acquire Standard Chartered’s personal loans portfolio. Kotak Mahindra is registered with the RBI (Reserve Bank of India) as a banking…
SBI Seeks $1.25 Billion: India’s Largest Loan In 2024
According to sources, the State Bank of India plans to borrow up to $1.25 billion, making it India’s largest dollar-denominated bank loan in 2024. The reason behind raising this loan is for general corporate purposes. Another reason for this loan is SBI’s plan to syndicate the loan among other lenders to distribute the risk. SBI’s…
Rupee Hits A Record Low Of 84.39 Against Greenback
The Indian rupee fell to a record low against the greenback this Tuesday, reflecting the weakness of Asian currencies following Trump’s victory in the U.S. elections. The constant outflow of foreign funds from Indian equities also weighed the rupee’s value. Foreign investors withdrew around $3 billion from Indian stocks in November after pulling out $11…
RBI Report Highlights Major Digital Economy Concerns
Recently, the RBI released its Report on Currency and Finance (RCF), which highlights some of the major concerns in the Indian banking and financial sector. The report mentions that the financial sector in India has undergone some major changes in the last decade due to the mass adoption of technological advancements. This shift has negatively…
SBI’s New ‘Amrit Vrishti’ Plan: Is It A Risky Bet?
India’s largest bank, SBI, has launched one of its highest interest rates, bearing FD: Amrit Vishti. According to the bank, the FD will offer an interest rate of 7.25% on deposits for 444 days and is open for domestic and non-resident Indian customers. They added that the interest rate for senior citizens will increase by…