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(This story has not been edited by THE WEEK and is auto-generated from a PTI

A report by the Reserve Bank of India revealed that the share of loans with an interest rate above 9% increased to 56.1% in March 2023, following monetary tightening measures implemented since May 2022. The central bank raised interest rates in response to inflation caused by global supply disruptions resulting from the Russia-Ukraine war. Despite this, the RBI did not raise rates in its last two monetary policy reviews.

The share of loans bearing over 9 per cent interest rate rose to 56.1 per cent in March 2023, in tandem with the monetary tightening measures starting May 2022, said a Reserve Bank report on Friday.

Earlier this month, the Reserve Bank of India (RBI) had announced a framework for acceptance of green deposits of regulated entities. In order to foster and developed a green finance ecosystem in the country, the RBI put in place the framework, which will come into effect from 1 June 2023, to foster and develop a green finance ecosystem in the country. -- aaa

MUMBAI, Sep 28:  The share of industrial loans in total credit has been gradually declining over the last decade while that of personal loans is on the rise, the Reserve Bank said on Wednesday. Both industrial and personal loans had nearly 27 per cent credit share each in March 2022, as per the ‘Basic Statistical Return on Credit by Scheduled Commercial Banks (SCBs) in India – March 2022′ released by the RBI. Meanwhile, loans to the industrial sector recorded 4.7 […]