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Questions and Answers
Which of the following are RBI's five strategic priorities for India's financial future? (Select all that apply)
What was the increase in India's outward FDI in August 2024?
$3.2 billion
What percentage of the ₹2000 banknotes have been returned?
97.96%
Retail inflation rose to 4.5% in August 2024.
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How much did India’s coal output increase in FY25?
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What was the state of India's GDP growth in April-June 2024?
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RBI made a net purchase of $______ billion in the spot forex market in July 2024.
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What was the forecasted GDP growth for APAC India in 2025 as per Moody's Analytics?
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What was the total GST collections at the last reported period?
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Study Notes
RBI's Strategic Priorities
- RBI has outlined five strategic priorities for India's financial future:
- Financial Inclusion
- Enhancing Digital Public Infrastructure (DPI)
- Strengthening Cybersecurity
- Promoting Sustainable Finance
- Reinforcing Financial Infrastructure
Financial Inclusion
- RBI continues to focus on financial inclusion as a key objective
RBI Penalties
- RBI has penalized Companies for violations related to loan disbursements and lack of proper documentation.
- Godrej Housing Finance
- Aadhar Housing Finance
- Housing and Urban Development Corporation
₹2000 Banknotes Withdrawal
- The withdrawal of ₹2000 banknotes has been largely successful
- 97.96% of notes have been returned
- ₹2000 banknotes remain legal tender
MSME Loans
- Growth in MSME loans showed positive trends in FY24:
- Micro and small enterprises saw a 13.3% increase
- Medium enterprises experienced a growth of 17.2%
APAC India's GDP Forecast
- Moody's Analytics forecasts a slowdown in APAC India's GDP growth:
- 7.1% in 2024
- 6.5% in 2025
RBI Currency Management Revamp
- RBI plans a major revamping of its currency management system
- Modernizing currency management infrastructure
- Automating warehouses
- Enhancing security systems
Retail Inflation and IIP
- Retail inflation rose to 3.65% in August
- IIP growth stood at 4.8% in July
RBI's Digitally-Linked Deposit Buffer Proposal
- RBI proposes a 5% run-off factor on digitally accessible retail deposits
- The proposal aims to manage withdrawal risks associated with digital banking
Outward FDI Data
- India's outward Foreign Direct Investment (FDI) increased to $3.2 billion in August 2024
India's Coal Output Growth
- India's coal output grew by 5.85% in FY25 reaching 411.6 million tonnes.
Forex Reserves Update
- India's forex reserves hit a new peak of $689.24 billion in September 2024
Inflation Forecast
- Inflation is expected to be held at 3.5% in August, which is below RBI's target
- Risks still remain due to:
- Erratic rainfall
- Weak Rupee
RBI Spot Forex Market
- RBI recorded a net purchase of $6.93 billion in the spot forex market during July 2024
Slowing of GDP Growth
- India's GDP growth slowed to 6.7% in April–June 2024
- Contributing factors:
- Lower government spending
- Model code of conduct (MCC) during elections
Net GST Receipts Growth
- Growth in GST receipts slowed to 6.5% in August 2024
- This is down from 14.4% in July
- Total GST collections amounted to ₹1....
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Description
Test your knowledge on the RBI's strategic priorities and recent financial updates impacting India's economy. Explore topics like financial inclusion, digital infrastructure, and the impact of note withdrawals on the banking sector.
