India’s microlending industry witnessed slower growth and recovery problems in the first quarter of the financial year due to multiple industry factors, said industry association Sa-Dhan in a press release.
Proposed changes in liquidity coverage ratio framework to further moderate the reported liquidity coverage ratio (LCR) and constrain the credit growth for banks, says Icra
RBI Governor Shaktikanta Das speech full text at Global Fintech Fest
Of the remaining two applications, one application has been returned with a provision for resubmission after meeting certain requirements. The third application is under examination, the RBI said.
This may impact consumers in India in getting service and transactional messages from banks, financial institutions, and e-commerce platforms
Presently, entities only register their headers and templates with telecom operators, without including the actual content of the messages. Starting in September, telcos must implement a system to read and verify the content of commercial messages against their records. Messages that do not match the registered content will be blocked.
Till now, more than 53.14 crore beneficiaries banked under PMJDY since inception, the data showed.
PMJDY accounts grow 3.6 -fold from 15.67 crore in March 2015 to 53.14 crore as on 14-08-2024
Around 55.6% Jan-Dhan account holders are women and around 66.6% Jan Dhan accounts in rural and semi-urban areas, per the data.
Amid challenges in mobilizing deposits and their higher cost, SFBs are likely to explore alternative, non-deposit avenues to fund credit growth. That said, capital buffers to support growth remain healthy for SFBs.
Continued moderation in core inflation was unanimously recognized, but the possibility of higher food prices spilling over to core remains a key concern. Real rate concerns raised their head again, but have not yet become the prevalent view among most committee members. Going forward, the RBI is likely to continue stressing on being ‘actively disinflationary’ and maintain a wait-and-watch mode to assess multiple macro forces, both domestic and global.
