Minister of State for External Affairs, V. Muraleedharan, told Parliament these funds have supported more than 600 projects in sectors such as infrastructure, power, connectivity and health.
Firms like Kotak Alternate Asset Managers, Edelweiss Alternative Asset Advisors, InCred Alternative Investments & others are seeking to expand the size of such funds or raise new funds.
In a bid to boost digital payments, RBI recently allowed RuPay credit cards to be linked to UPI. This was to enable customers to link their credit cards and pay via UPI.
Low-income households seek loans often, but credit is suitable if it helps sustain or improve financial well-being. This is what must be ensured by lenders, regulators & policymakers.
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’.
Net interest income also saw a 18.9% rise while advances grew at 23.4% with the bank seeing a high growth across retail, commercial, rural banking, wholesale loan among others.
Despite rising interest rates, bank credit growth rose to a nine-year-high last month. While credit to MSMEs has shown consistent double-digit growth, it’s large industries that have really helped.
The RBI wants every small-ticket loan to be a marriage officially solemnised in the church of banking. Its new guidelines stop nonbanks from loading digital wallets using credit lines.
Indian refiners are testing Venezuelan barrels again as Russian supply sinks, but analysts say volumes will remain limited due to refinery constraints & supply capacity.
This is the game every nation is now learning to play. Some are finding new allies or seeing value among nations where they’d seen marginal interest. The starkest example is India & Europe.
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