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A high savings rate is a prerequisite for high economic growth

"We closed FY23 with a loan book of Rs 4 lakh crore, and the demand for refinance and direct funding is so strong that I am confident of clocking 25 per cent growth in asset creation this fiscal, which will take our total loan book to Rs 5 lakh crore or more by March 2024," Sidbi chairman S Raman told reporters here on Tuesday on the sidelines of a Sidbi-organised global SME financing summit as part of the just-concluded the G20 Summit.

The US received Rs 1.24 lakh crore (13.6 per cent share) and the UK got Rs 1.16 lakh crore (12.8 per cent) as ODI from India in FY2023.

The RBI releases quarterly HPI based on transaction-level data received from the registration authorities in ten major cities. The cities are Ahmedabad, Bengaluru, Chennai, Delhi, Jaipur, Kanpur, Kochi, Kolkata, Lucknow, and Mumbai. "All India HPI growth (y-o-y) inched up to 5.1 per cent in Q1:2023-24 from 4.6 per cent in the previous quarter and 3.4 per cent a year ago; annual growth in HPI varied widely across the cities - ranging from the high growth of 14.9 per cent (Delhi) to a contraction of 6.6 per cent (Kolkata)," the RBI said.

On a sequential (quarter-on-quarter) basis, all-India HPI increased by 2.6 percent in Q1:2023-24