RBI Data Bank lending to the Commercial Real Estate Segment Increased by ____

Daily Current Affairs

RBI Data Bank lending to the Commercial Real Estate Segment Increased by _____ in July 2023 from July 2022

43%

38%

31%

26%

Correct Answer : 38%

The commercial real estate segment increased 38% in July 2023 from a year earlier, the Reserve Bank of India’s latest sectoral credit data showed.

* Outstanding loans in the segment climbed to Rs 4.07 lakh crore as of July 28 compared with Rs 2.94 lakh crore on July 29 last year (2022). Comparatively, loan growth was 3.6 percent in the period from July 30, 2021, to July 29, 2022.

* In the housing segment, outstanding bank loans jumped 37 percent to Rs 24.3 lakh crore at the end of July from Rs 17.7 lakh crore a year earlier.

* Rising demand for commercial property in tier 1 and tier 2 cities after the pandemic has fuelled demand for loans, bank executives and experts said.

* “We have seen growth across projects and around 7 percent of our total book, approximately Rs 4,700 crore, is in the housing and real estate segment,” said Sanjay Agarwal, managing director of AU Small Finance Bank.

* Pankaj Kapoor, founder of Liases Foras Real Estate Rating and Research, said lenders are slowly shedding the cautious approach adopted after the IL&FS crisis of 2018 when defaults by the company caused a liquidity crisis.

* “Lenders like banks are becoming aggressive in lending to the commercial real estate sector. They see massive scope of growth,” Kapoor said.

Housing loans :

* Additionally, some banks worked on deals and projects in the commercial segment. In February, IndusInd Bank invested Rs 140 crore in Sushma Group’s commercial projects in Chandigarh. The Sushma Group also raised Rs 50 crore from the State Bank of India in August 2022.

* In January, Bank of Baroda took part-possession of Nirmal Lifestyle Mall in Mumbai.

* HDFC Bank, the country’s largest private sector bank, has the largest housing loan portfolio with assets of about Rs 7 lakh crore. SBI had a portfolio of Rs 6.5 lakh crore.

* SBI’s housing loan portfolio grew 14 percent in the April-June quarter. ICICI Bank recorded a YoY growth of 16 percent, with its total portfolio at Rs 3.55 lakh crore. Punjab National Bank’s housing portfolio jumped 12 percent to Rs 83,893 crore in the April-June quarter.

* India’s real estate sector is expected to expand to $5.8 trillion by 2047, contributing 15.5 percent to the GDP from an existing share of 7.3 percent, according to a report by Knight Frank and National Real Estate Development Council in August..

Source : Money Control

Published On : September 4, 2023

Food Basket Inflation Remains Elevated :

Despite the overall moderation in inflation, the inflation rate in the food basket grew at 8.7 per cent in April, up from 8.52 per cent in March, as per data from the National Statistical Office (NSO). Notably, India’s vegetable inflation slightly decreased to 27.80 per cent year-on-year compared to 28.30 per cent in March. However, inflation rates for cereals and pulses, crucial components of India’s staple diet, remained elevated at 8.63 per cent and 16.84 per cent, respectively.

Contractions in Fuel and Light Inflation :

In contrast to the food sector, the inflation rate for fuel and light witnessed a contraction of (-)4.24 per cent in April, reflecting a downward trend in energy prices.

Inflation Trends Across Various Commodities :

Among the top five groups, the year-on-year inflation in categories like ‘Clothing & Footwear’, ‘Housing’, and ‘Fuel & Light’ has decreased since the previous month. Specifically, the inflation rates for clothing & footwear and the housing sector stood at 2.85 per cent and 2.68 per cent, respectively.

Published On : May 14, 2024

Q .

Which District is the Entry Point of Ganga River in Uttar Pradesh?

Bijnor

Amroha

Rampur

Budaun

Correct Answer : Option (A) - Bijnor

After originating from the Gangotri Glacier in Uttarakhand, the Ganga flows into the plains and enters the state of UP. Uttar Pradesh witnesses the entry of the Ganga River from the Bijnor district.

India boasts numerous rivers, with some originating in the Himalayas while others stem from the major mountain ranges across the subcontinent. Among them, the Ganga River holds a revered status as the holiest and most prominent river in northern India. After emerging from the Himalayas, the Ganga traverses primarily through the state of Uttar Pradesh, playing a vital role in its economy and culture.

Ganga, the Longest River in India :

When it comes to the longest rivers in India, the Ganga River takes the lead. It spans a total length of 2525 kilometers, traversing through multiple states and serving as a lifeline for millions of people. However, it’s essential to note that while the Ganga is the longest river in terms of its course within India, in some regions, it merges with the Brahmaputra River, forming a vast network of water bodies.

Entry Point of Ganga River into Uttar Pradesh :

Uttar Pradesh witnesses the entry of the Ganga River from the Bijnor district. From there, it flows through various cities and towns, enriching the landscape and influencing the lives of millions. The river’s significance extends beyond just geographical boundaries, as it holds immense cultural, religious, and economic value for the people of Uttar Pradesh and India as a whole.

Published On : May 14, 2024

Q .

Which State of United States is Known as 'The Centennial State'?

Wyoming

Colorado

New Mexico

Pennsylvania

Correct Answer : Option (B) - Colorado

Colorado earned the nickname "The Centennial State" due to its admission into the Union in 1876, precisely a century after the signing of the Declaration of Independence.

Which State of United States is Known as “The Centennial State”?

Colorado holds the distinction of being known as “The Centennial State” among the United States. This nickname stems from its admission into the Union in 1876, precisely 100 years after the signing of the Declaration of Independence. Symbolizing both historical significance and patriotic pride, the title highlights Colorado’s role in commemorating the nation’s centennial while underscoring its rich heritage and contributions to American history.

The Origin of the Nickname “The Centennial State” :

Colorado earned the moniker “The Centennial State” due to its admission into the Union in the year 1876. This year held special significance as it marked the centennial anniversary of the signing of the Declaration of Independence, a pivotal event in American history. The timing of Colorado’s statehood celebration perfectly aligned with the nation’s centennial celebrations, hence the fitting nickname.

Published On : May 13, 2024