Delhi has been ranked third and Haryana fifth in getting Foreign Direct Investment (FDI) in the year 2021-22. Karnataka has been ranked first among the top five states in the country with 37.55 percent of the amount. Maharashtra was on second with 26.26 percent and Tamil Nadu fourth, which got 5.10 percent. Delhi received 13.93 percent and Haryana received 4.76 percent. Despite Corona and global challenges, India had achieved a total of $ 84.83 billion in FDI in 2021-22. In the last financial year, the country's manufacturing sector received a total FDI of $ 21.34 billion, the commerce ministry said. That's 76 percent more than the year before, at $12.09 billion.
$21.34 billion in manufacturing
Singapore has the highest FDI of 27.01 percent while 17.94 percent from the US. Mauritius is third with 15.98 percent and the Netherlands is fourth with 7.86 percent. Switzerland is in fifth place.
Demand for loans increased, and more interest would be available on deposits
The demand for credit is increasing rapidly in the country. It has reached a three-year high. It is expected to accelerate further with the improvement in economic activity. In such a situation, banks can increase interest rates on deposits for the need for money. Actually, due to the low interest getting on deposits, the banks are getting short of money. Bank of Baroda chief economist Madan Sabnavis says depositors are investing in stocks and mutual funds, where they are getting higher returns. Higher interest in NRIs... HDFC Bank has recently increased the interest on deposits of Non-Resident Indians (NRIs) to attract depositors. In the coming time, more banks may give more interest.
9.8 percent increase in deposits
The growth rate of bank deposits in the country is currently 9.8 percent, which is below 10 percent in 14 months. Whereas the growth rate of credit was 14.4 percent in the fortnight of July 1. It has grown nearly three times from a record low of 5.6 percent in 2021. Retail loans which include personal, housing, and auto loans are increasing rapidly. This is also the focus of banks.
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