Today, the Reserve Bank of India released on its website the DRG Study titled, “Monetary Policy Transmission and Labour Markets in India.” The study is co-authored by Chetan Ghate, Satadru Das, Debojyoti Mazumder, Sreerupa Sengupta, and Satyarth Singh.

Today, the Reserve Bank of India releases Volume 44, No.2, 2023 of its Occasional Papers, a research journal containing contributions from its staff. This issue contains three articles and three book reviews. Articles: 1. Cross-border Capital Flows and Sudden Stops: Lessons from Emerging Market Economies

Today, the Reserve Bank released data relating to India’s International Investment Position for end-June 2024[1]. Key Features of India’s IIP in end-June 2024: Net claims of non-residents on India increased by US$ 6.7 billion during Q1:2024-25 to US$ 368.3 billion in June 2024. •    The rise in net claims of non-residents during the quarter was due to higher increase in foreign-owned assets in India (US$ 28.8 billion) vis-à-vis that in Indian residents’ overseas financial assets (US$ 22.1 billion) (Table 1). •    Inward direct investment was the largest contributor to the rise in foreign liabilities during April-June 2024 followed by currency and deposits, loans and trade credit. 

Data on lending and deposit rates of scheduled commercial banks (SCBs) (excluding regional rural banks and small finance banks) received during the month of September 2024 are set out in Tables 1 to 7. Highlights:

The value of exports and imports of services during August 2024 is given in the following table. International Trade in Services (US$ million) Month Receipts (Exports) Payments (Imports) April – 2024 30,179 (17.1) 16,749 (20.0) May – 2024 29,614 (9.7) 16,863 (6.2)

The stock of external debt at end-June 2024 as well as revised data for earlier quarters are set out in Statements I (IMF format ) and II (old format). The major developments relating to India’s external debt as at end-June 2024 are presented below. Highlights • At end-June 2024, India’s external debt was placed at US$ 682.3 billion, an increase of US$ 13.3 billion over its level at end-March 2024 (Table 1).

Data on sectoral deployment of bank credit for the month of August 2024 collected from 41 select scheduled commercial banks, accounting for about 95 per cent of the total non-food credit deployed by all scheduled commercial banks, are set out in Statements I and II.

Today, the Reserve Bank of India released the balance of payments (BoP) data for the first quarter (Q1), i.e., April-June of 2024-25 on its website (www.rbi.org.in). On the basis of these data, the sources of variation in foreign exchange reserves during April-June 2024 are detailed below in Table 1

Preliminary data on India’s balance of payments (BoP) for the first quarter (Q1), i.e., April-June 2024-25, are presented in Statements I and II. Key Features of India’s BoP in Q1:2024-25 • India’s current account deficit (CAD) widened marginally to US$ 9.7 billion (1.1 per cent of GDP) in Q1:2024-25 from US$ 8.9 billion (1.0 per cent of GDP) in Q1:2023-24 and against a surplus of US$ 4.6 billion (0.5 per cent of GDP) in Q4:2023-24.

1. Reserve Bank of India - Liabilities and Assets* (₹ Crore) Item 2023 2024 Variation Sep. 22 Sep. 13 Sep. 20 Week Year 1 2 3 4 5 4 Loans and Advances 4.1 Central Government 0 0 0 0 0 4.2 State Governments 13480 29725 26447 -3279 12967 * Data are provisional; difference, if any, is due to rounding off.

Today the Reserve Bank of India placed on its website a research study titled “Status of Digital Financial Literacy in Lakshadweep Islands: Bottlenecks and Way Forward” under the Project Research Study . The study is based on the primary data collected from all the ten inhabited islands in Lakshadweep - Agatti, Amini, Andrott, Bitra, Chetlat, Kadmat, Kalpeni, Kavaratti, Kiltan and Minicoy - to analyse the present status of digital financial literacy and digital financial inclusion. While households were the primary unit of enumeration of the survey, SHG members, bank employees, school authorities, students and business-persons in the islands were also interviewed.

The Reserve Bank has today released data on Reserve Money for the week ended September 20, 2024.

Today, the Reserve Bank released the September 2024 issue of its monthly Bulletin. The Bulletin includes eleven speeches, four articles, and current statistics. The four articles are: I. State of the Economy; II. Synchronisation of Indian States’ Business Cycle; III. Priority Sector Lending: The Indian Experience; IV. Peeling the Layers: A Review of the NBFC Sector in Recent Times.

(Amount in ₹ crore) SCHEDULED COMMERCIAL BANKS (Including RRBs,SFBs and PBs) ALL SCHEDULED BANKS 08-Sep-2023 23-Aug-2024* 06-Sep-2024* 08-Sep-2023 23-Aug-2024* 06-Sep-2024* I LIABILITIES TO THE BKG.SYSTEM (A) a) Demand & Time deposits from banks 248727.47 294896.40 297810.00 251106.12 298809.39 302095.57** b) Borrowings from banks 188137.55 126681.45 128865.30 188207.97 126693.70 129153.89 c) Other demand & time liabilities 69409.90 77788.66 23520.31 70117.34 78091.61 23848.47 II LIABILITIES TO OTHERS (A) a) Deposits (other than from banks) 19388696.45 21325126.04 21549984.81 19828360.43 21775041.27 22001736.24 i) Demand 2199179.49 2446039.12 2456817.43 2244723.98 2494144.42 2505222.10

1. Reserve Bank of India - Liabilities and Assets* (₹ Crore) Item 2023 2024 Variation Sep. 15 Sep. 6 Sep. 13 Week Year 1 2 3 4 5 4 Loans and Advances 4.1 Central Government 0 0 0 0 0 4.2 State Governments 16939 35426 29725 -5701 12786 * Data are provisional; difference, if any, is due to rounding off.

The Reserve Bank has today released data on Reserve Money for the week ended September 13, 2024 and Money Supply for the fortnight ended September 06, 2024.

The Reserve Bank of India has today released the data on External Commercial Borrowings (ECB), Foreign Currency Convertible Bonds (FCCB) and Rupee Denominated Bonds (RDB) both, through Automatic Route and Approval Route, for the month of July 2024.

Today, the Reserve Bank released its annual publication “Handbook of Statistics on the Indian Economy, 2023-24” (HBS). The publication, 26th in the series, provides detailed time-series data on the Indian economy

1. Reserve Bank of India - Liabilities and Assets* (₹ Crore) Item 2023 2024 Variation Sep. 8 Aug. 30 Sep. 6 Week Year 1 2 3 4 5 4 Loans and Advances 4.1 Central Government 0 0 0 0 0 4.2 State Governments 24915 13381 35426 22045 10511 * Data are provisional; difference, if any, is due to rounding off.

The Reserve Bank of India has today released the data on Overseas Direct Investment, both under Automatic Route and the Approval Route, for the month of August 2024.