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RBI’s Revised Guidelines for Priority Sector Lending

on September 10, 2020

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Zayax Somra: New Delhi, New Delhi, India

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India's Rising Forex Reserves!

India’s Rising Forex Reserves India’s forex reserves have been making it to headlines regularly for the past few months, as its forex reserves cross $ 500 billion. Why is it so special? What are forex reserves? What is its importance? Why are they rising even after the slowdown in the economy? We’ll be discussing all of it here!! The economy is under stress, we all have seen a massive plunge in the GDP but rising forex reserves have come as a breather during these harsh times as it can cover India’s import bill for more than a year. What are forex reserves? As per IMF, external assets that a country’s monetary authority can use to meet the balance of payment financing needs. Forex reserves have 4 components: 1. Foreign Currency Assets 2. SDR (Special Drawing Rights) 3. Gold 4. RTP (Reverse Tranche Position) Now, in India’s case Forex reserves have risen to a whole new level, but why? The rise in the forex reserves of India are a consequence of various...

RBI’s Revised Guidelines for Priority Sector Lending

RBI’s Revised Guidelines for Priority Sector Lending On September 4, 2020, RBI revised the guidelines for priority sector lending, applicable to all commercial banks including RRBs, Small Finance Banks, Local Area Banks, and Primary (Urban) Cooperative Banks to align it with the emerging needs of the country and bring a sharper focus on inclusive development. The questions that arise are what is Priority Sector? Why were the guidelines issued in the first place? What has changed compared to earlier guidelines? What can be its impact, if any? Priority Sector means those sectors which the Government and Reserve Bank of India consider important for the development of the basic needs of the country and are to be given priority over other sectors. What this means is that RBI and Government push credit to credit-starved sectors for the development of the nation so that there can be better credit penetration to these sectors. Talking about the earlier guidelines issued, RB...

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