Finance Minister Nirmala

Sitharaman will be leaving for the

US to attend the 2023 Spring
Meetings of the World Bank Group
(WBG) and the International
Monetary Fund (IMF), along with
G20 meetings. During her week-
long trip, she will be hosting the
second G20 Finance Ministers and
Central Bank Governors (FMCBG)
meeting under India's G20
Presidency and G20- related side
events, the Finance Ministry said in
a statement.
-Business Line
Credit growth continued to outpace
deposit growth in FY'23 at an 11
year high even as banks have
transmitted fully -250 bps - their
lending rates linked to external
benchmarks which now comprise
almost half of floating rate loans.
Credit demand may not be linked to
interest rates but more to economic
activity, notings in the RBI's
monetary policy report suggest.
While bank loans rose 14.6% in
FY'23, deposits rose just 9.6%.
Credit growth in the last fiscal is the
highest since FY'2011-12 during
which credit rose 17%. Significantly,
lending rates rose the steepest in
FY'23.
-Business Line

Last week, the 30-share BSE Sensex

climbed 841.45 points or 1.42% in
the holiday- shortened week. 8 of
the top 10 valued firms added
₹82,169.3 crore in market valuation
last week. From the top-10 pack,
the valuation of HDFC Bank jumped
₹31,553.45 crore to ₹9,29,752.54
crore. HDFC's market valuation
surged ₹18,877.55 crore to
₹5,00,878.67 crore. SBI's mcap
went up by ₹3,792.96 crore to
₹4,71,174.89 crore. However, the
mcap of ICICI Bank fell by ₹1,780.62
crore to ₹6,10,751.98 crore. RIL
continued to remain the most
valued firm, followed by TCS, HDFC
Bank, ICICI Bank, HUL, Infosys,
HDFC, ITC, SBI, and Bharti Airtel.
-Business Line

09-04-2023

(Compiled by Canara Bank Officers'

Union- Team Kerala- affiliated to All
India Bank Officers' Association)