Chapter 2: Monetary Management and Financial Intermediation- Stability is the Watchword
- India's banking and financial sectors performed exceptionally well in FY24.
- The RBI maintained a steady policy rate, keeping overall inflation under control.
- The Monetary Policy Committee (MPC) kept the policy repo rate at 6.5% in FY24, aligning inflation with its target while supporting growth.
- Credit disbursal by Scheduled Commercial Banks (SCBs) reached Rs 164.3 lakh crore, growing by 20.2% by March 2024.
- Growth in broad money (M3), excluding the HDFC merger impact, was 11.2% (YoY) as of March 2024, compared to 9% a year ago.
- Double-digit growth in bank credit, low non-performing assets, and improved bank asset quality reflect the government's commitment to a stable ....
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- 1 Chapter 1: State of the Economy – Steady as She Goes
- 2 Chapter 3: Prices and Inflation - Under Control
- 3 Chapter 4: External Sector - Stability amid Plenty
- 4 Chapter 5: Medium-Term Outlook – A Growth Strategy for New India
- 5 Chapter 6: Climate Change and Energy Transition: Dealing with Trade-Offs
- 6 Chapter 7: Social Sector - Benefits that Empower
- 7 Chapter 8: Employment and Skill Development: Towards Quality
- 8 Chapter 9: Agriculture and Food Management – Plenty of Upside Left If We Get It Right
- 9 Chapter 10: Industry - Small and Medium Matters
- 10 Chapter 11: Services - Fuelling Growth Opportunities
