Complaints against banks and NBFCs represented 82.28 per cent and 14.53 per cent of the total complaints, respectively. MUMBAI: Consumer complaints related to loans and advances accounted for the largest share among grievances against entities regulated by the RBI, rising 43%, according to the annual report of the Reserve Bank’s Integrated Ombudsman Scheme. The overall…
MUMBAI: The country is poised for an economic rebound, driven by a resurgence in domestic demand and strong agricultural prospects, and the time is ripe to take steps to rekindle demand and investment, RBI’s latest ‘state of the economy’ report said. The report has been released less than a fortnight before the Budget amid growing…
NEW DELHI: The Reserve Bank of India (RBI) has highlighted that while household debt in India has been on the rise over the past three years, it remains relatively low compared to other emerging market economies (EMEs).It said, “At 42.9 per cent of GDP (at current market prices) in June 2024, India’s household debt is…
MUMBAI: There is scope for bank credit to outpace growth of the economy given the relatively low share of credit to GDP, according to RBI.“India’s total credit-to-GDP ratio (including credit extended by banks as well as NBFCs) at 90.1% in 2022 was below that of advanced economies and of emerging market economies (EMEs) as well…
MUMBAI: India’s economic growth is likely to improve in the second half of the current fiscal, driven by festive activity and an upswing in rural demand, RBI’s state of the economy report said. It also expects a moderation in the prices of food items, including rice, pulses, and vegetables.“Going forward, high-frequency indicators available so far…
