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Official data on retail inflation for August will be released on September 12.
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Unsecured loans registered the fastest growth amongst all loan categories, with personal loans payable standing at Rs 10.25 trillion. About 73% of total loans availed in FY 22-23 had a tenure of less than 6 months. 79% of all loans taken digitally had a ticket size of less than Rs 10,000.
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The retail inflation figures in July, 2023 ,sprung a nasty – but not unexpected – shock to policymakers with a surge to 7.44% from a far sober 4.81% in June.
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The suggestion has also mentioned that such an AI-powered tool can be built on the digital public infrastructure model
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PM Modi said that policy stances by central banks were extremely important to “ensure that policies taken by each country to combat inflation do not lead to negative repercussions in other countries”.
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September is a crucial month for several financial transactions. Here are a few.
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The dry spell has triggered concerns about the output of kharif crops such as rice and soyabean and even sowing in the following Ravi season that starts from October/November.
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On March 13, union minister of state for finance, Bhagwat Kisanrao Karad, said in a written reply at the Lok Sabha that proliferation of digital payments systems such as Aadhaar Payment Bridge, Aadhaar-enabled Payment System (AePS), UPI and UPI Lite saw “a growth of more than 200% during four years since FY19."
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For the period of April to July, Fiscal deficit number came at Rs 6.06 Lakh crore. It has increased from 4.51 lakh crore for April-June period.
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In Q1 FY24, India’s GDP is estimated to attain a level of Rs 40.37 lakh crore. While, in same period last year, the GDP had attained a level of Rs 36.85 lakh crore. Thereby, growing by 7.8 per cent.
