What is amply clear is,be it #SBI,#HdfcBank,Axis,or smaller Public Sector banks,there has been a dramatic improvement in #AssetQuality,which bodes well
@narendramodi gov also helped corporates via #TLTROs,introduced in March this yr,by RBI
Under TLTRO,banks can access 3-Yr funds of up to Rs1 lakhCr,which they can then invest in corporate bonds,including the bonds of mid sized corporates& #NBFCs,facing liquidity crunch #economy
#Rupee has fallen far lower Vs #Dollar,comparatively👇
Euro,2 days ago,went below $1 for 1st time in 20yrs,reflecting big weakness in #Euro
Rupee,displaying strength,has risen big time against Euro,Pound &Yen💪
So #Madarsa dentists from Congress should stop lecturing on Rupee
@narendramodi govt in a landmark measure has allowed international trade settlement in #Rupees
Explained👇
When countries import&export goods&services,they have to make payments in foreign currency
Since US Dollar is world’s reserve currency,most trades are entered into in USD
Here,both parties involved have to incur conversion expenses&bear risk of foreign exchange rate fluctuations
This is where trade settlement in Rupee comes in-instead of paying &receiving US Dollars,invoice will be made in Indian Rupees if counterparty has #Rupee Vostro account
Some Business News anchors are saying Rupee has fallen against Dollar because our monthly #TradeDeficit is hitting $20bn&our Current Account Deficit(CAD),will be 3%
Well,$20bn a month Trade Deficit is no big deal for us,given that our Goods+Services Exports are a massive $670bn
2.5-3% CAD for an economy growing at average of 7.5-9.5% is not a big deal either
In fact,in last 8yrs,average CAD under @narendramodi govt has been sub 2%,so we have enough leeway on that count
Why then are major Currencies falling against Dollar?
Industrial growth estimated at 11.8% &Services at 8.2% in FY22 show how Economy under @narendramodi is ready to fire on all cylinders
Most Growth Parameters are back to pre-Pandemic levels,as India heads into #UnionBudget2022
#GDP&GVA growth 1.3%&1.9% over Pre #COVID19 levels
#EconomicSurvey shows,be it Operationalisation of Airports or Spread of Bank Branches, @narendramodi govt has truly transformed India,with financial inclusion getting top priority
India set to be Fastest growing for next 2yrs as per IMF,thx to bold reforms by #PMModi #Modinomics