Page 5 - Rbi Data News Today

RBIs Annual Report: The central bank said that it aims at expanding the ongoing pilots in the CBDC (central bank digital currency) -Retail and CBDC-Wholesale by incorporating various use cases and features during the current fiscal.

Patra said only half of the working population is part of the labour force at present and added that India has to prioritise getting the skilling strategy right.

In the previous reporting week, the overall reserves rose by USD 6.306 billion to USD 584.755 billion.

The decline was mainly on the account of a narrowing merchandise trade deficit, which was $30.9 billion or 3.7 per cent of the GDP in the second quarter of 2022-23, the data showed.

Indians are spending nearly USD 1 billion every month on foreign travel which is significantly more than the pre-Covid levels, reveals Reserve Bank data on outward remittances.

A latest data report released by the Reserve Bank of India (RBI) showed that people prefer using credit cards more than debit cards post COVID pandemic. -- aaa

The currency in circulation, in value terms, soared from Rs 17.74 lakh crore on November 4, 2016, to Rs 32.42 lakh crore on December 23, 2022.

Indias foreign exchange reserves fell by $691 million to $562.808 billion as on December 23, according to RBI data released on Friday.

India`s current account balance recorded a deficit of $23.9 billion (2.8 per cent of GDP) in Q1:2022-23, up from US$ 13.4 billion (1.5% of GDP) in Q4:2021-221 and a surplus of $6.6 billion (0.9% of GDP) a year ago [i.e., Q1:2021-22], the RBI said in a statement.

As per RBI data, public sector banks’ share in total credit by scheduled commercial banks stood at 54.8 per cent in March 2022 as compared to 65.8 per cent five years ago and 74.2 per cent 10 years ago.