IMF growth forecast
On the release of the World Economic Outlook 2019 April repor, the International Monetary Fund (IMF) has projected that global growth will be 3.3% in 2019, down from 3.6% in 2018 and 4% in 2017.
India highest recipient of remittances: World Bank
As per the World Bank report, India retained its position as the world’s top recipient of remittances with its diaspora sending the highest $79 billion back home in 2018.
India’s GDP growth to be 7.3 % in 2018-19: World Bank
As per the recent forecast by World Bank, India’s GDP is expected to grow at 7.3% in the fiscal year 2018-19, and 7.5% in the following two years.
Rise in Forex Reserves
According to latest data released by RBI, the country’s foreign exchange reserves rose to a ten-month high of $411.91 billion as on March 29, as against $406.67 billion a week earlier.
Small Finance Banks
As per the recent Data from RBI, the small finance banks, in total, saw their deposits grow 31.6% in the third quarter (ended December) of the last financial year.
Mutual Funds Assets growth
It is recorded in the recently ended financial year(2018-19) that the mutual fund assets growing at the slowest pace in seven years.
Stressed assets circular to be revised
The RBI governor said that the central bank will come up with a revised circular to continue its battle against stressed assets within India’s banking system.
Repo Rate cut
The Monetary Policy Committee (MPC), in its first meeting in FY’20, cut the key lending rate repo rate by 25 basis points from 6.25% to 6%.
India to grow 7.2% for FY’20: ADB
The Asian Development Bank (ADB) has lowered India’s growth forecast for 2019-20 to 7.2% from 7.6% estimated earlier.
Supreme Court order on Stressed Assets
The Supreme Court struck down the Reserve Bank of India’s ‘February 12 2018 order’ that dealt with resolution of stressed assets in the economy.