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BFSI Chronicle, 11  Edition September 2022
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               of accommodative policy stance to check inflation.  •  As per S&P, India Inc can withstand high inflation
                                                                 and high interest rates
           • Inflation projection: Retained at 6.7% for FY 23
               on assumption of normal monsoon and crude oil  •  September 22 ( up to 17th Aug 2022 )
               at USD 105/ barrel
                                                              • India becomes the fifth biggest economy in the
           •  Economic growth projection : RBI retains its       world
               projection at 7.2% for current fiscal
                                                              •  Credit card spends touch record high of Rs. 1.16
           •  Bank credit growth: It has accelerated 14% as      lakh crores in July
               against 5.5% a year ago
                                                              •  Mudra loans  cross Rs.1 lakh crores disbursal in
           • FDI inflows : It improved to USD 13.6 bn in Q1       this fiscal.
               this fiscal against 11.6 bn in corresponding period
               last year                                      •  Kisan Credit Cards- RBI is taking up pilot project
                                                                 for end to end digitisation
           •  Rupee : It has moved in an orderly manner,
               depreciating 4.7% till Aug 4.                  •  RBI is planning  to set up a Fraud Registry to
                                                                 check frauds
           • Inflation at 6.71% and IIP at 12.3%
                                                              •  UPI- 657 crores transactions amounting to
           •  EASE ago be introduced for RRBs                    Rs.10.73 trillion in August

           •  India- Asia’s strongest economy as per Morgan  •  Personal loans have gone up by 42% in FY 22
               Stanley
                                                              •  Net Exports ratio is 5.3% of GDP in this first
           •  RBI releases norms for digital lending             quarter. It was 1.5 % of GDP in March quarter.

           •  PSBs recover Rs. 6.41 trillion from FY 2015  •  ED in top gear, gets refund of 23 k crores to banks
               onwards
                                                              •  RBI asks 4 state run banks to test digital rupee,
           • PSBs profit at Rs.15036 Cr in this Q1                is in talks with Fintech Cos

           •  Bank credit grows at 14.52% and Deposits at  •  RBI data ( UPI, Credit card issuance , spends) hint
               9.14%                                             at strong consumption revival

           •  PSBs to create Central Talent Pool              •  Demat accounts surpass 100 million for the first
                                                                 time
           •  WPI at 13.93 % in July
                                                              •  Service sector activity up in August on gains in
           •  Rating agencies upbeat about India                 new business, job creation

           •  SBI tops in Debit cards and HDFC Bank in Credit  •  S&P Global India Services PMI Business activity
               Cards                                             index rose to 57.2 in August from a 4 month low
                                                                 of 55.5 in July
           •  IBC - the hair cut is to the tune of 69%


           The Institute Of Cost Accountants Of India

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