The Reserve Bank of India, in its annual policy statement, has announced three changes to the priority sector lending (PSL) norms and has increased the loan limit for the Micro Small and Medium Enterprises (MSME) in the services sector to Rs 5 crore per borrower from Rs 2 crore earlier.
India’s second-largest credit rating agency CARE Ratings’ latest report says that, the country’s economic growth is expected to revive gradually in the next fiscal; with an estimate for GDP growth of 5.9 percent - 6.0 percent in FY14.
Over the last few years, Indian export-oriented businesses have been struggling very badly.
Financial inclusion is a journey which the Indian banking industry has started. Like any other journey, this one too is fraught with challenges and limitations, and needs a roadmap to achieve its goal.
The Reserve Bank of India (RBI) is aggressively working on motivating banks to use mobile devices for banking purposes. As of 2012, around 70 banks in India are providing mobile banking services to their customers.
In a recent development, the Ministry of MSME, Government of India, declared its intention to work aggressively towards the creation of an ‘India Inclusive Innovation Fund’. This new fund will cater to the credit requirements of Indian MSMEs.
The Reserve Bank of India Monday said inflation remains above the comfort zone and fiscal and current account deficits are still high, moderating expectations of an interest rate cut.
An Interest rate cut is widely expected in the Reserve Bank of India (RBI)'s third quarter review of credit and monetary policy for the financial year 2012-13 Tuesday after the government took steps to bring its finances under control and inflation moderated.
Based on expectations of cuts in key policy rates by the Reserve Bank of India, the Federation of Indian Chambers of Commerce and Industry (FICCI) has predicted the economy to grow by 6.7 per cent for 2013-14.
The Calcutta Stock Exchange (CSE) Monday said impact of chit funds in West Bengal would be huge as the number of such firms in the state is very high.