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BFSI Chronicle, 2 Annual Issue, 10 Edition July 2022
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• RBI likely to introduce a comprehensive extend finance to commercial real estate
IT outsourcing framework – residential housing, within the existing
• April exports move up by 30.7% to $ 40 aggregate housing finance limit of 5% of
billion their total assets
• India to be $ 5 trillion economy by FY • The RBI increased the policy repo rate by
27- IMF 50 basis points to 4.90% with immediate
• India’s rural economy has more access to effect – RBIs Bi-Monthly monetary policy
banking now- RBI annual report on 8 June 2022.
• Growth of shadow banks poses threat to • Consequently the standing deposit
financial stability – RBI annual report facility SDF stands adjusted to 4.65%;
• The government pegs India’s FY 22 GDP and the marginal standing facility MSF
growth at 8.7% rate and the bank rate to 5.15%
• India services growth at 11 year high in • RBI to regulate Big Tech, Fin tech, BNPL
May –PMI survey services
• India May factory activity remained • At Rs.3.39 trillion, direct tax collection
strong despite inflation rate goes up by 45%
• India’s merchandise exports jumped 15% • Bank credit grow at a three year high at
in May to USD 37 .3 billion 13.1%
• Bank credit growth stays strong in FY 23, • IBBI moots separate insolvency
set to rise further framework for home buyers
• Recovery certificate holder can initiate • Wholesale inflation highest since 1991
CIRP as financial creditor under IBC – • RBI shoot down ‘digital only banks’
Supreme Court • Forex reserves at USD596 billion
• FM launches EASE 5.0 public sector • The RBI taps top banks including HDFC,
banks common reform agenda ICICI, SBI for Blockchain based trade
• Factory output begins FY 23 on a high, financing project
jumped 7.1% in April • RBI issues guidelines for outsourcing of
• Fitch lauds Indian economic recovery, IT services by banks, NBFCs
revises outlook from negative to stable • Sebi cannot initiate proceedings against
• Banks to report borrowers ‘ not companies under IBC
cooperating in Forensic audit’ to • India facing twin deficit problem due
• CRILIC to commodity prices, subsidy – Finance
• RBI allows credit cards to be linked to Minister
UPI • The BIS presents a vision for the future
• RBI details provisioning requirements monitoring system
for large NBFCs • Private banks levying steep foreclosure
• First set of NPAs likely to be transferred fees – MSMEs
to bad bank next month • RBI plans to take financial messaging
• Public sector banks now look to move system SWIFT’s home grown alternative
out of Hong Kong on bleak prospects SFMS global.
• RBI has allowed State cooperative banks • RBI extends card tokenisation deadline
and district central cooperative banks to by three months
The Institute Of Cost Accountants Of India
The Institute Of Cost Accountants Of India
The Institute Of Cost Accountants Of India
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