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

Kohli vs Gambhir: Uproar in Lucknow-Bangalore match, Kohli clashed with Naveen-ul-Haq, and later argued with Gambhir

In the 43rd match of IPL 2023, Royal Challengers Bangalore defeated Lucknow Supergiants by 18 run

Rahul Gandhi Birthday: 'Rahul is the leader of the marginalized people', KC Venugopal's statement; Know who said what

Congress leader Rahul Gandhi has received many congratulatory messages on his 54th birthday. From

'We will not let reservation end nor be divided in the name of religion, this is Modi's guarantee', PM said in Rajasthan

Prime Minister Narendra Modi addressed a public meeting in Tonk, Rajasthan. On this occasion, PM

Indian Students In China: Good news for Indian students, will be able to complete the remaining studies in China; Dragon announces visa issuance after two years

China on Monday announced plans to issue visas to hundreds of Indian students stranded due to COV

IND vs SA: 'One of the 10 best innings in Indian Test history', Gavaskar praised KL Rahul's century

Lokesh Rahul's brilliant century in the first Test match against South Africa was praised by the

CA Toppers May 2023: Akshay CA Final of Ahmedabad and Gokul of Hyderabad are inter toppers, see AIR list

ICAI CA Final, Inter Result May 2023 has been announced on 5th July 2023. The information about t

This was Kangana Ranaut's reaction after watching 12th Fail, the actress said this for Vikrant Massey

These days, Bollywood actor Vikrant Massey is enjoying the success of his film '12th Fail'. The a

Amitabh Bachchan: Big B did this tweet regarding women's innerwear, and now users are furious at the megastar

Apart from films, Amitabh Bachchan, the megastar of the century, is also in the limelight for his

Shahbaz Sharif desperate for talks with Modi: Appeal to UAE President – You have very good relations with India, somehow convince them for discussion

Shahbaz Sharif last week appealed to the President of the United Arab Emirates (UAE) Sheikh Moham

Earthquake In Jaipur: Rajasthan shook by an earthquake 3 times in an hour, 4.5 recorded intensity; people on the streets

There were three earthquakes in Rajasthan's Jaipur city on Friday morning. According to the Natio

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