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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.
India's 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.