RBI

Das stated firmly, "What is good for another market need not be good for us. Therefore, our views—both that of the Reserve Bank and personally that of mine—remain the same," underscoring the unique considerations and context surrounding cryptocurrency regulations in India.

These categories include the “7.37 per cent Government Security 2028” valued at Rs. 7,000 crore, the “7.18 per cent Government Security 2033” valued at Rs. 16,000 crore, and the “7.30 per cent Government Security 2053” worth Rs. 10,000 crore.

Surpassing the Reserve Bank of India's (RBI) recent revision to 7%, this estimate signals positive economic momentum, particularly after a surprising 7.6% growth observed in the July-September quarter, driven by robust expansion in the manufacturing sector.

The report observes that the current household debt in India doesn't pose a systemic concern, offering a relatively stable financial landscape.

Under the existing guidelines, any credit balance in a deposit account that remains dormant or unclaimed for a period of 10 years or more needs to be transferred by banks to the DEA Fund, managed by the RBI.

Initially, the total value of the ₹2,000 banknotes in circulation was ₹3.56 lakh crore as of May 19, 2023, when the withdrawal was announced. Since then, the RBI has provided the facility for the exchange of ₹2,000 banknotes at 19 issue offices since May 19, 2023.

Speaking to IANS, Hajra also anticipates a moderate acceleration of deposit growth and a deceleration of credit growth in 2024 relative to 2023, which will result in a system-wide reduction in the credit deposit ratio. The sector will also experience a moderate decline in the net interest margin next year.

In its update, the RBI announced that while ICICI Bank retained its position in the same bracket as the previous year, both SBI and HDFC Bank have been moved to higher buckets – SBI from bucket 3 to bucket 4 and HDFC Bank from bucket 1 to bucket 2.

Financial institutions are playing a crucial role in sustaining credit growth, supported by robust earnings and solid capital buffers.

In 2022-23, the consolidated balance sheet of SCBs expanded by 12.2%, primarily propelled by increased credit to the retail and services sectors.