Page 2 - Rbi Data News Today

RBIs Digital Payments Index (RBI-DPI) stood at 418.77 at the end of September 2023 compared to 377.46 in September 2022 and 395.57 in March 2023.

The gap between credit and deposit growth of banks as of the first fortnight of January 2024 has widened compared to the last fortnight of September 2023, according to the latest RBI data.

As of December 2023, there were 97.9 million outstanding credit cards, with a record 1.9 million additions during the month alone, the latest Reserve Bank of India (RBI) data revealed.

India Business News: MUMBAI: HDFC has become the first bank to achieve a milestone of two crore credit cards in force, the company said in a statement.

The volume of card transactions also rose to 3,200 lakh in October from 2,970 lakh in September but declined to 2,739 lakh in November. The number of credit cards also jumped to 960 lakh as of November 2023 as against 806 lakh a year ago, according to RBI data.

Loans to industries grew at 7.1 per cent in September 2023 as against 12.6 per cent, and at 6.7 per cent in August against 11.4 per cent in the same month of last year.

In November, fresh personal loan disbursals grew at 18.6%, down from 19.9% last year, impacted by the RBIs loan risk weight changes. Total outstanding loans hit Rs 50,56,524 crore from Rs 41,80,838 crore last year. Non-food bank credit grew 16.3% annually to Rs 1,56,20,554 crore. Credit to industries like basic metals rose, while engineering and infrastructure slowed. Agricultural credit grew to 18.2%, and service sector credit increased to 21.9% compared to last years 21.3%.

The Reserve Bank of India reported a 21.9 per cent YoY growth in credit to the services sector in November 2023, compared to 21.3% a year ago. This growth was despite a slowdown in lending to non-banking financial companies (NBFCs), which made up a significant portion of the services loan portfolio. The Reserve Bank increased the risk weights on bank lending to NBFCs and their unsecured lending. Overall, non-food bank credit rose 16.3% YoY in November 2023.

Total fraud cases amounted to ₹45,598 core in 2021-22, shows the RBI data on trends and progress of banking in India. It is incumbent upon you to inform the bank immediately so as to get the refund

Mumbai, Dec 26 (PTI) India's current account deficit declined sharply to 1 per cent of the GDP or USD 8.3 billion in the second quarter of this financial year, mainly due to lower merchandise trade deficit and growth in services exports, according to a RBI data released on Tuesday.