Jain was appointed as the RBI Deputy Governor in June 2018 for three years. In June 2021, he was re-appointed as DG for a period of two years.

According to the RBI, the primary regulatory objective of the circular -- issued on June 8, 2023 -- is to enable multiple avenues to lenders to recover the money in default without much delay.

IFSCA chairman Srinivas said efforts were also being made to increase international participation in the Indian capital markets.

HDFC is in the process of merging with HDFC Bank. RBI had advised that the shareholding of HDFC Ltd in HDFC Credila has to be brought down to 10 per cent within two years from the effective date of the amalgamation.

Experts believe that the surplus liquidity situation is likely to be volatile till the end of the month on account of goods and services tax (GST) payments.

The amount stuck in the wilful default category has jumped by 41 per cent, or over Rs one lakh crore in the last two years from Rs 245,767 crore in December 2020, according to data compiled by Transunion Cibil, a credit information company registered with the RBI.

However, credit card NPAs made up just 2.16 per cent of the total credit card outstanding or loan exposure as of December 2022, a marginal increase from 2.11 per cent on March 31, 2022.

Currency with the public is arrived at after deducting cash with banks from total currency in circulation. Currency in circulation refers to cash or currency within a country that is physically used to conduct transactions.

For eligible cases for higher pension where date of commencement of pension is post 01.09.2014, pension shall be calculated based on “average monthly pay drawn during contributory period of service in the span of 60 months preceding the date of exit from the membership of the pension fund”.

Murmu said that during the Summit, a SAI20 Communique was adopted unanimously. Stating that the SAI20 is an engagement group under the Sherpa Track of the G20, he said this should be recognised as an institutional group.

For instance, the maximum drop in week-ahead fares among the 10 routes was 56 per cent in Delhi-Leh and Delhi-Ahmedabad sectors. The lowest—10 per cent—was in Ahmedabad-Delhi sector. In the case of Mumbai-Delhi, average week-ahead airfares rose by 13 per cent.

The segment has also contributed to exports worth Rs 1.3 lakh crore, and created employment for 60,000 individuals, as per DPIIT data.

Talking about the growth, the Governor said the country’s economy displayed exemplary resilience post-pandemic and rebounded strongly from a contraction of 5.8 per cent in FY2021 to a growth of 9.1 per cent in FY2022 and 7.2 per cent in FY2023.

The event was attended by representatives of 15 countries and international experts working in areas of digital governance.

About 85 National and International delegates from 17 countries including G20 member SAIs, Guest SAIs, Invited SAIs, along with International Organizations and Think20 and Youth20 Engagement Groups attended the Summit.

Within the household sector, individuals accounted for 52.8 per cent share in total deposits. More than a half of households’ deposits during 2022-23 came from five states, namely, Maharashtra, Uttar Pradesh, NCT of Delhi, Karnataka and West Bengal.

The total debt outstanding of the airline stood at over Rs 6,000 crore as of the end of April 2023. Go First had voluntarily filed for insolvency resolution proceedings before the Delhi bench of the National Company Law Tribunal (NCLT) on May 2, which the tribunal on May 10 admitted.

Fresh loans under compromise settlement only after 12 months

On the questions about bringing down the fuel prices, Puri said the state-run oil marketing companies did “okay” in the last quarter. “They have recovered some of their losses. They have been very good corporate citizens. As we go along, we will see what can be done,” he said.

The country’s overall petroleum product consumption, a proxy for crude oil demand, rose 9 per cent YoY and 8 per cent MoM in May to 20.03 million tonnes. But it was lower than the record level of 20.50 million tonnes in March this year.

Speaking at an industry interaction organised by Confederation of Indian Industry (CII) in Lucknow, the CEA also said that actual investments by the private sector are beginning to happen, which would result in job growth across rural and urban India in the coming years.

According to data released by the Association of Mutual Funds in India (AMFI), systematic investment plan (SIP) contributions stood at an all-time high of Rs 14,748.68 crore in May.

The ‘current situation index’ (CSI) improved by 1.5 points from the previous survey round to 88.5 on the back of improved assessment for all the survey parameters, barring essential spending.

Ramaswamy who joined GIC Re in 1988 will retire in September 2025. He was earlier posted in London to head the company's UK branch.