The Reserve Bank of India today released its Report on Trend and Progress of Banking in India, 2002-03. The Report gives a detailed account of the performance of and policy developments relating to commercial banks, co-operative banks, financial institutions and non-banking financial companies during 2002-03. The Report is divided into seven Chapters and contains detailed statistical tables on various parameters for banks and financial institutions.OverviewThe first c

"Banking Statistics: Quarterly Handout – June 2003" provides data on aggregate deposits and gross bank credit of scheduled commercial banks as on the last Friday of June 2003. The data are based on Basic Statistical Return-7, received from all scheduled commercial banks. The top hundred centres arranged according to the size of deposits accounted for 61.5 per cent of the total deposits and the top hundred centres arranged according to the size of bank credit acco

The Reserve Bank of India has permitted four private sector banks for conduct of all types of Central Government transactions as its agents with effect from October 1, 2003. The four banks that have been permitted to undertake Government transactions are HDFC Bank Ltd., ICICI Bank Ltd., IDBI Bank Ltd. and UTI Bank Ltd. These banks have also been authorised to conduct State Government transactions if any State Government desires to appoint any one or all these banks as

The Reserve Bank of India has advised income-tax assessees in the cities of Mumbai and Navi Mumbai to take advantage of paying their income tax dues at any of the designated bank branches. The income-tax department has authorised approximately 832 computerised branches of public sector banks and HDFC Bank in Mumbai and Navi Mumbai to accept payment of income-tax dues. The Reserve Bank has also advised income-tax assessees to avoid last minute rush at the Reserve Bank'

In view of the current macroeconomic and overall monetary conditions, the Reserve Bank of India has decided to reduce the one day and 14 day repo rate under the Liquidity Adjustment Facility (LAF) of the Reserve Bank to be made available on August 25, 2003 to 4.5 per cent from 5.0 per cent. Thereafter, as per the current practice, the cut-off rate for acceptance of bids for one day and 14 day repo will continue to be decided by the Reserve Bank at each auction. Alpana

In response to a query from wire agencies, the official spokesperson of the Reserve Bank of India has said that the decision to reduce the repo rate has been taken in the light of decline in the inflation rate and good monsoon. It may be recalled that the Reserve Bank had earlier pointed out that it was closely watching the movement in inflation and behaviour of the monsoon before any decision would be taken. The annual rate of inflation which was about 6.7 per cent a

'Banking Statistics: Quarterly Handout – March 2003' provides data on aggregate deposits and gross bank credit of scheduled commercial banks as on 31st March 2003. The data are based on Basic Statistical Return-7, received from all scheduled commercial banks. The data have been presented according to top hundred centres, states, districts, population groups and bank groups. Five new statements are added from this issue of Quarterly Handout. The top hundred centres arr

We do not expect to make a repo cut now or for quite sometime, until the monsoon and inflation situation becomes clearer. There has been renewed market speculation on this issue in the light of the 50 basis point cut made by the European Central Bank yesterday. The rate of inflation in the main Euro countries is in the range of 2 per cent compared to our inflation rate which was 5.9 per cent on May 17, 2003, an official spokesperson of the Reserve Bank of India clarif

The Reserve Bank of India has advised income-tax assessees in the cities of Mumbai and Navi Mumbai to take advantage of paying their income tax dues at any of the designated bank branches. The income-tax department has authorised approximately 820 computerised branches of public sector banks and HDFC Bank in Mumbai and Navi Mumbai to accept payment of income-tax dues. The Reserve Bank has also advised income-tax assessees to avoid last minute rush at the Reserve Bank'

(As on the last Friday of December 2002) 'Banking Statistics: Quarterly Handout – December 2002' provides data on aggregate deposits and gross bank credit of scheduled commercial banks as on the last Friday of December 2002. The data are based on Basic Statistical Return-7, received from all scheduled commercial banks. The data have been presented according to top hundred centres, states, districts, population groups and bank groups. The top hundred centres arranged a