RBI’s Annual Report 2022-2023 The Reserve Bank of India (RBI) recently released its Annual Report for the fiscal year 2022-2023. This report provides valuable insights into the state of the Indian economy and the various measures undertaken by the central bank to ensure stability and growth. In this article, we will delve into the key…
Rise in Fake Rs 500 Notes Detected in India – RBI Annual Report Reveals In the recently released annual report by the Reserve Bank of India (RBI), a concerning trend has come to light. The report highlights a significant rise in the detection of counterfeit Rs 500 notes circulating in India. This news has caught…
GDP Expected to Grow 6-6.5% in FY24: BOB ECO Research The Indian economy is showing signs of recovery as the GDP growth rate for the fiscal year 2024 is projected to be between 6% and 6.5%. According to the latest report by BOB ECO Research, a leading economic research institute, the country is expected to…
Retail Inflation Drops :18-Month Low of 4.70% in April In a positive development for the economy, retail inflation in India witnessed a significant decline, reaching an 18-month low of 4.70% in April. This drop in inflation has brought much-needed relief to policymakers, consumers, and businesses across the country. The decline can be attributed to various…
The Reserve Bank of India’s (RBI) gold reserves have increased by 4.5% to 794.64 tonnes in the financial year 2022-23 As per the latest data released by the central bank, the value of India’s gold reserves rose to $48.5 billion in the week ended April 28, 2023. The RBI’s gold reserves account for 6.3% of…
Article: India’s Unemployment Rate in April Rises to 8.11% from 7.8% in March India’s unemployment rate has risen to 8.11% in April 2023 from 7.8% in March 2023, as per the data released by the Centre for Monitoring Indian Economy (CMIE). The rise in the unemployment rate is a cause for concern, especially in the…
Article: India’s Forex Reserves Rise by $5.98 Billion to $578.78 Billion India’s foreign exchange reserves have increased by $5.98 billion to reach $578.78 billion as of March 24, 2023, as per the data released by the Reserve Bank of India (RBI) on Friday. This rise in reserves can be attributed to the increase in foreign…
Current Account Deficit Narrows to 2.2% of GDP in Q3 The current account deficit (CAD) of India has narrowed down to 2.2% of GDP in the third quarter of the fiscal year 2020-21, as per the data released by the Reserve Bank of India (RBI). This is a significant improvement from the previous quarter, where…
GST revenue collection increases 13% to ₹1.60 lakh crore in March 2023 The Goods and Services Tax (GST) revenue collection in India has increased by 13% to ₹1.60 lakh crore in March 2023, according to the Ministry of Finance. The government’s efforts to curb tax evasion, streamline tax administration, and promote digital transactions have resulted…
Ashwani Kumar suggested as MD and CEO of UCO Bank by FSIB The Financial Services and Investment Board (FSIB) has recommended the appointment of Ashwani Kumar as the Managing Director (MD) and Chief Executive Officer (CEO) of UCO Bank. FSIB made this recommendation to the Appointments Committee of the Cabinet (ACC) after conducting interviews of…
