As per the recent Weekly statistical supplement released by RBI, The broad money recorded 21% annual growth rate as on 24 April 2009 compared with 17.3% a year ago. The annual growth rate in time deposit with bank was 23.7% as on 24 April 2009 compared with 23% last year. However bank credit to commercial sector recorded lower growth rate in 2008-09.
The annual growth rate was 17.7% as on 24 April 2009 compared with 21.5% recorded a year ago. The global slowdown has been creating worrisome for the domestic industry and overall weak global economy outlook has been adding stress on funding cost.
The apex bank of India has cut the key rate of interest with regular intervals from September 2008 to till date. However the measures will take time to perform. The RBI has projected 17% growth in money supply for the year 2009-10.
The annual growth rate in net foreign exchange assets of banking sector recorded 0.8% negative growth as on 24 April 2009 compared with 48% surged last year.
The annual growth rate was 17.7% as on 24 April 2009 compared with 21.5% recorded a year ago. The global slowdown has been creating worrisome for the domestic industry and overall weak global economy outlook has been adding stress on funding cost.
The apex bank of India has cut the key rate of interest with regular intervals from September 2008 to till date. However the measures will take time to perform. The RBI has projected 17% growth in money supply for the year 2009-10.
The annual growth rate in net foreign exchange assets of banking sector recorded 0.8% negative growth as on 24 April 2009 compared with 48% surged last year.
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