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.
Premier David Eby, the leader of the minerals- and gas-rich province of British Columbia, spoke with executives at Tata Steel and Reliance Industries on a trade mission to India.
Overall, President Droupadi Murmu has approved Gallantry awards to 70 armed forces personnel, including six posthumous, on the eve of 77th Republic Day.
No nation other than China can negotiate one-on-one with Trump on an equal footing. That’s why the middle powers who so far formed the core of multilateral bodies now feel orphaned.
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