ABG Shipyard will go down as biggest bank fraud case registered by CBI; firm allegedly defrauds Rs 22,842 cr, with ICICI Bank, IDBI Bank and SBI being the top 3 victims.
RBI projects India’s economic growth rate for FY23 at 7.8%, lower than 8-8.5% estimated by finance ministry in Economic Survey.
RBI has projected lower retail inflation of 4.5% in FY23 amid expectations of a normal monsoon this year and crude oil price not elevating beyond a level.
Private cryptocurrencies are a threat to financial and macroeconomic stability, RBI Governor Shaktikanta Das has warned.
Union Bank of India reported 49.3% YoY jump in Q3 net profit to Rs 1,085 crore on account of improvement in interest margins and sharp fall in provisions and contingencies.
Bank of Baroda doubled its standalone net profit to Rs 2,197 crore in Q3 amid strong growth in net interest income, lower provisions and improvement in asset quality.
State Bank of India reported a 62.27% year-on-year rise in net profit to Rs 8,431.9 crore for the quarter ended December on the back of lower provisions and improving asset quality.
Bank of India reported a 90% year-on-year jump in net profit to Rs 1,027 crore for the quarter ended December on account of lower provisions.
FM Nirmala Sitharaman proposes amendments to IBC to improve loan recovery process, while also facilitating cross-border insolvency resolution.
FM Nirmala Sitharaman said a Rs 6,000-crore programme to rate MSMEs will be rolled out over the next five years.
Interlinking of all 1.5 lakh post offices on core banking system to be completed in 2022; 75 digital banking units to be set up in 75 districts;
Finance Minister Nirmala Sitharaman, while presenting the Union Budget, said that the housing projects have been allotted Rs 48,000 crore for FY23.
Budget for 2022-23 estimates fiscal deficit at higher than expected 6.4%, triggering expectations of a rise in yields on bonds and interest rates to stay elevated.
India’s GDP to grow 9.2% in 2021-22 after contracting in the earlier year; Economic Survey warned about risks from global inflation and pandemic-related disruptions.
As per the Economic Survey 2021-22, 49.1% of the bank deposits, amounting to Rs 73.5 lakh crore, are without the DICGC insurance cover.
