MUMBAI: In a strong signal of rising investment in India’s private sector, manufacturing and finance companies received approval to raise a record $11 billion through external commercial borrowings (ECBs) in March 2025. This marks the highest monthly ECB inflow in more than five years, according to data released by RBI.Of the total amount, about $8.3…
MUMBAI: Gold loans surged by 71% year-on-year in Dec-end, emerging as the fastest-growing segment within personal loans. Individual borrowings against FDs and shares saw a year-on-year increase of 19% and 22%, in Dec 2024.According to data on sectoral deployment of bank credit released by RBI, gold loan portfolio of banks rose to Rs 1.7 lakh…
MUMBAI: The tax collection at source on external remittances made from India appears to have had a dampening impact on Indians‘ spending abroad. Total spending by Indians on external remittances in June 2024 dipped 44% to $2.2 billion compared to $3.9 billion in the year-ago period. It is also 8% lower than the $2.4 billion…
MUMBAI: The annual increase in bank credit continues to outpace deposit growth by a high margin even after the base effect created by the merger of HDFC with HDFC Bank dissipated post-merger. According to data released by RBI, bank credit grew by 14% year on year as of July 12 while deposit growth for the…
