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Asia

RBI sells USD 14.9 bn during Jan-May to check excess volatility in rupee

Markets-Economic Times · 2h ago · 🇮🇳 India

RBI sells USD 14.9 bn during Jan-May to check excess volatility in rupee

In an effort to stabilize the rupee, the Reserve Bank of India sold USD 14.9 billion. Banks are also re-engaging with defaulters to recover substantial written-off loans. The SWAMIH Fund has been effective in funding 147 projects, benefitting many home buyers. Interestingly, defaults on gold loans have plummeted for both banks and NBFCs. Moreover, Kisan Credit Card accounts now reflect over Rs 10 lakh crore in outstanding credit.

Read the full story at Markets-Economic Times →

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