The growth in the volume of UPI transactions has been above 50% y-o-y. According to the RBI’s annual report for 2022-23, UPI-led retail digital payments have shown a growth at a CAGR of 50% in volume and 27% in value between FY17 and FY22. As per a report by PwC India, UPI...
In its meeting, RBI board also approved the annual report and accounts for the accounting year 2022-23. Topic: Banking System 2. Canara Bank emerged as the largest buyer on the GeM portal in 2022-23. It made purchases of ₹592.82 crore from theGeM portal, according to the government data...
The Central Bank stated that it aims to expand the scope of CBDCs with new technology and more participants by enabling offline functionality, programmability, cross-border transactions, and tokenisation of assets in itsannual report 2023-24. The RBI also intends to explore the potential of CBDCs...
According to a report by SBI's Economic Research Department, the total number of jobs produced in Manufacturing and Services is at 8.9 crores between FY14-FY23. The report by SBI's Economic Research Department showed that this number is at 6.6 crores during FY04-FY14. Furthermore, data fro...
The report is an annual publication that provides information, analysis and an assessment of the finances of State governments for 2022-23. The theme of this year’s Report is “Capital Formation in India - The Role of States”. Topic: Appointments ...
In its 2018 report, the Committee on review of regulations and relevant circulars pertaining to MIIs had suggested that the ownership of Market Infrastructure Institutions (MIIs) should be widely held. This committee was headed by R Gandhi and referred to as Gandhi Committee. ...
4. As per RBI’s annual report 2021-22, value and volume of banknotes in circulation grew by 9.9% and 5%, respectively, during 2021-22. The value and volume of banknotes in circulation grew by 16.8% and 7.2%, respectively, during 2020-21. ...
3. Funding in Indian fintech sector has recorded a decrease of 63% in 2023 according to a Tracxn FinTech Report. The fintech sector got funding of $2 billion in 2023. This is a decline of 63% compared to $5.4 billion raised in 2022, according to a Tracxn FinTech Report. ...
In the latest half-yearly economic review report, Finance Ministry has highlighted that the headline inflation outlook is on a declining trend. India had recorded an economic growth of 7.2% in 2022-23 and 9.1% in 2021-22. RBI has raised its growth forecast for 2023-24 to 7%. RBI has pro...
From January-May 2022, 851 VC deals worth $13.3 billion were announced. However, India is still a key market in Asia-Pacific for VC funding activity. It is ranked second after China in terms of deal volume and value. As per the report, India held a 16.4% share of the total number of...