The central bank said it found 'several' instances of 'unreasonable elongation of tenor' of floating rate loans by lenders without proper consent and communication to the borrowers.
During the year, RBI saw a gain of 1.03 trillion rupees from foreign exchange transactions, which allowed it to increase the size of its contingency fund, the report showed.
Although RBI has been raising repo rate to contain rising inflation & lending, it hasn't discouraged borrowers. The growth in credit could partly be attributed to ‘pent up demand’.
RBI has ensured that $9 billion has been made available at overseas branches of some Indian banks for the country's three state-run refiners to tap, according to sources.
There's little dispute that higher interest rates are coming, or that they are warranted. However, European Central Bank President Christine Lagarde warned rushing could be harmful.
RBI Governor Shaktikanta Das said the central bank does engage with the govt in frank discussions, but there is no interference when it comes to decision-making.
MoSPI proposes to remove closed factories from IIP sample, aiming for truer picture of India’s industrial health in upcoming 2022–23 base series. Plan open to public feedback until 25 November.
Bihar is blessed with a land more fertile for revolutions than any in India. Why has it fallen so far behind then? Constant obsession with politics is at the root of its destruction.
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