RBI Report: More interest may be available on deposits in the coming time


Posted on 18th Jul 2022 02:28 pm by rohit kumar

The demand for credit is increasing rapidly in the country. Also, there is a huge difference between the interest rates of deposits and loans. In such a situation, banks will have to attract customers by increasing the interest rate on deposits. RBI has said this in its Sunday report. It added that normal rains and less inflationary pressure will support growth. The demand for credit will also increase rapidly due to the improvement in economic activities. Deposits in banks rose 9.77 percent to Rs 169.61 lakh crore in the fortnight ended July 1. During this period, the debt increased by 13.29 percent to 123.81 lakh crore. In the fortnight of June 2, 2021, borrowings were 109 lakh crore and deposits were 154 lakh crore. agency

 

GDP will grow rapidly even after a recession

 

In another report, RBI said, despite the adverse situation, the Indian economy will grow rapidly. The impact of the geopolitical situation is visible in many areas, which is a hindrance in the path of reform. Still, based on the indications, India is on track to become the fastest growing economy amid fears of a global recession. On the other hand, if the commodity prices are low, then the bad phase of high inflation can also end. Retail inflation remains above 7 percent for now.

 

The US has overtaken the United Arab Emirates (UAE) to become number one in terms of sending money to India. 20 percent of the money coming into India is coming from America. Due to Corona, there may be a 30 percent reduction in the amount coming to India from Gulf countries in 2020-21 as the number of people going out from here has decreased. The report said that the US, Singapore, and the UK account for 36 percent of the amount coming to India. Kerala, Tamil Nadu, and Karnataka receive maximum money from UAE.

 

Also Read: Forex Reserves Decline: India's foreign exchange reserves are decreasing continuously, know why this is a cause for concern?

1 Like 0 Dislike
Previous news Next news
Other news

Climate Change: Average temperature will increase from 20.4 °C to 39.7, and will heat up more at night

Rapidly increasing heat will cause six times more deaths by the end of this century. The high tem

Coronavirus in India: 1,321 new cases of coronavirus infection were reported in the country in the last 24 hours

With the arrival of 1,321 new cases of coronavirus infection in India in the last 24 hours, the t

Cousin trolled for supporting Palash Muchhal, users said – to a cheater…

Palash Muchhal and Smriti Mandhana's wedding was recently postponed. Subsequently, an alleged cha

This model of iPhone sold the most in the year 2022, Samsung was also in the competition

The list of best-selling smartphones of the last quarter of last year has come to the fore. This

CAG: Coastal security is not strong even after 14 years of the 26/11 terror attack, needs of Sagar Prahari are also incomplete

The country's Comptroller and Auditor General (CAG) has criticized the delay in safeguarding all

Syria Earthquake: People saved the life of a girl buried in the debris of the earthquake for 30 hours, the whole family died in the tragedy

Syria Earthquake: The devastating earthquake in Turkey and Syria has caused havoc. Till now more

Hanuman ji returned on the supersonic plane: HAL had removed it two days ago; Shown at the Airshow in Bengaluru

Hindustan Aeronautics Limited's (HAL) HLFT-42 full-scale model has once again got the Lord Hanuma

Elvish Yadav: False publicity for reel and messing with police; Rajasthan police served notice to Elvish, know the matter

YouTuber Elvish Yadav, who is always in controversies, is again in the news due to another scanda

Industry: Worst performance of Indian industry, industrial production down to 26-month low

The country's industrial production declined by 4 percent in October due to the weak performance

Weather Alert: Chances of rain today in favorable monsoon conditions, relief from heat in Delhi-NCR, mercury below 40

Rains before the arrival of monsoon in the national capital have brought relief from the scorchin

Sign up to write
Sign up now if you have flare of writing..
Login   |   Register
Follow Us
Indyaspeak @ Facebook Indyaspeak @ Twitter Indyaspeak @ Pinterest RSS



Play Free Quiz and Win Cash