Interest Rates

Real GDP growth for FY23 is expected at 7%, indicating resilient economic activity

Ease of movement of funds on digital platforms and deployment of money by businesses from current accounts also played a role in pruning the share of CASA money

In March, two-wheelers, three-wheelers, passenger vehicles and commercial vehicles saw a growth of 12 per cent, 69 per cent, 14 per cent, and 10 per cent, respectively

Rate on National Savings Certificate steeply raised by 70 bps, PPF kept unchanged

The turbulence in FY23 can be attributed to a concoction of interest rate hikes, foreign investment outflows, a global war, soaring food, fuel prices and a global banking crisis

Increased competition, lower spreads, moderate growth are among hurdles to overcome

The small-caps were hit on the chin with the S&P BSE Small-cap index slipping nearly 7 per cent thus far during in FY23, underperforming the S&P BSE Midcap and the BSE 500 indexes

EPFO's return in 1977-78 was 8%. It has since been 8.25% or more; the peak was 12%, a rate that remained unchanged between 1989-90 and 1999-2000

Fund paid 8.1% interest rate to subscribers in 2021-22, marking a four-decade low

Not enough to meet rising inflation, say some quarters; EPFO likely to distribute Rs 90,000 cr to members' accounts, on a total principal amount of Rs 11 trn

The retirement fund body EPFO is likely to announce the rate of interest on employees' provident fund (EPF) deposits for 2022-23 at its two-day meeting beginning Monday. EPFO had lowered the interest on EPF for 2021-22 to an over four-decade low of 8.1 per cent for its about five crore subscribers, from 8.5 per cent in 2020-21 in March 2022. This was the lowest since 1977-78, when the EPF interest rate stood at 8 per cent. "The Employees' Provident Fund Organisation's (EPFO's) apex decision making body Central Board of Trustees (CBT) is likely to decide the rate of interest on EPF for 2022-23 at its two-day meeting beginning on Monday afternoon," a source said. Besides interest rate, the CBT will also discuss the annual accounts of the EPFO for 2022-23. The trustees will also deliberate on the action taken by the EPFO on the Supreme Court order for giving a four-month window to Employees' Pension Scheme 1995 subscribers to opt for higher pension. The EPFO has provided the facilit

The meeting is also likely to focus on the steps to widen the social security organisation's coverage to embrace about 100 million workers and address the dip in its corpus

Fed is striving to maintain a fine balance

BoE announces quarter-point rate hike to 4.25%; MPC says it expects inflation to fall faster

Experts said, generally, in an easing cycle banks tend to reduce the interest rates on deposits faster than on loans to protect their margins

In the bulletin, the RBI said that the Indian economy is unlikely to face any major repercussions from the ongoing global financial turmoil

Inflows into NRI deposits more than double in April 2022-January 2023

What's different this time is that global financial stress - which has its genesis in four policy choices made in recent years - is juxtaposed with a more resilient real economy

The rules of the games are not the same on the US and Indian banking turfs but if risks are mispriced, the fallout could be similar

OECD expects India's gross domestic product (GDP) to grow at 6.9 per cent in FY23 against 7 per cent estimated by the Central Statistical Organisation