The financial sector of India in the year 2024

• The RBI maintained its policy rate at 6.5% throughout the year.
• In December, the RBI stepped back from the cash reserve ratio for banks to free cash.

Inflation Trends

• The CPI inflation was measured at 5.69% in December 2023, falling to 5.10% in January 2024, then down to 3.6% in July, before finally rising back up again to 6.2% in October.
• The rate at which the real GDP increased declined from 7.76% in March to 5.36% in September 2024.

Yields and bond prices

• 7.17 of the 10 years’ yield in 2023 increased to the value of 6.79% by December 2024
• The US 10-year yield increased from 3.88% to 4.55% in 2024.

Rupee-dollar Exchange Rate

• The rupee-dollar exchange rate went between 83.21 and 85.02 last year.

Foreign Exchange Reserves

• Highest foreign exchange reserves of India reached $704.9 billion in 2004.

Stock Market Index

• At the end of the year, Nifty 50 stood at 21,731.
• Brent Crude increased to a height of $92.18 a barrel in April 2024.

Last Bank

• By November 29, 2024, banks exceeded 175 trillion rupees in credit.

RBI Health of the Financial System Report 2024

• Gross NPAs in the banking system reduced from 3.2% in September 2023 to 2.8% in March 2024.