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?

Other news

Milk Price Hike: Inflation shock on festivals, Amul increases by two rupees on full cream milk, will have to pay such a price

Inflation has hit hard during the festive season. On Saturday, India's renowned dairy company Amu

Vikram Batra: 'Sher Shah' was the lion of Kargil, even the enemies trembled on hearing his name; Himachal's son became the hero of the whole country

Kargil Vijay Diwas (Kargil Vijay Diwas 2024) is a very important day for all the countrymen of in

Yogi government also opposed Ashish Mishra's bail in Supreme Court, also gave reason

The UP government has opposed in the Supreme Court the bail of Ashish Mishra, accused of crushing

MEA: S Jaishankar broke silence on Rahul's questions, said - biggest ever deployment on LAC against China

Politics has been hot since the skirmish between Chinese soldiers and the Indian Army in Tawang,

Mahakumbh 2025: Prayagraj jammed! road... crowded with buses and trains, long queues on the roads all around; everyone is troubled

Maha Kumbh is going on in Prayagraj, Uttar Pradesh. Thousands of devotees are coming to take bath

Weather Update: Haze of pollution in Delhi-NCR, there is an alert of snow with rain in Himachal and Uttarakhand

Pollution has increased significantly in the capital Delhi for the last several days. Meanwhile,

GT vs MI Pitch Report: Rohit-Hardik don't take this wrong decision after winning the toss in Ahmedabad, see very useful figures

In the 35th match of IPL 2023, Gujarat Titans will clash with Mumbai Indians. In their last match

These arguments of ED can make Kejriwal's interim bail difficult, 10 big things in the affidavit of the investigating agency

During the hearing of the money laundering case in the Supreme Court, there was an indication of

Bhool Bhulaiyaa 3 Star Cast Fees: Vidya Balan and Madhuri Dixit's fees are nothing compared to Kartik Aaryan's, you will be shocked to hear them

Bhool Bhulaiyaa 3 is all set to rock the theatres this Diwali. The film's star cast is busy promo

Indian soldiers will not be less than American soldiers: Indian Army gets F-INSAS; How our jawans will become fighting machines

Indian soldiers posted on the border are now going to be converted into fighting machines. Ballis