Share of loans bearing over 9% interest rate hits 56.1% in March says RBI

A report by the Reserve Bank of India revealed that the share of loans with an interest rate above 9% increased to 56.1% in March 2023, following monetary tightening measures implemented since May 2022. The central bank raised interest rates in response to inflation caused by global supply disruptions resulting from the Russia-Ukraine war. Despite this, the RBI did not raise rates in its last two monetary policy reviews.

from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/RnHY54h
via IFTTT

Comments

Post a Comment

Popular posts from this blog

RBI cancels licence of Rajasthan-based Sumerpur Mercantile Urban Coop Bank

The RBI has cancelled the licence of Sumerpur Mercantile Urban Cooperative Bank in Pali, Rajasthan, due to inadequate capital and earning prospects. Depositors will receive deposit insurance claim amount up to Rs 5 lakh from DICGC. As on November 30, 2023, DICGC has already paid Rs 45.22 crore of the total insured deposits based on the willingness received from the depositors concerned of the bank. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/PEzW9QB via IFTTT
Read more