Post office savings deposit, recurring deposit accounts and the senior citizen savings scheme account have shown the highest growth in the current financial year.
The circular says even a day's delay in servicing loans would be now taken as a 'default'. And once in default, for loans above Rs 2,000 crore, the banks will have to arrive at a resolution within 180 days, else lenders will have to file an application under the IBC within 15 days.
The continued rise in interest is a pressure on fiscal, but it is not an easy way out unless the government cuts back on populist measures and sticks to fiscal prudence as laid out in the FRBM, which the government missed for the second consecutive year.
'There is merit in keeping the central bank's balance sheet strong if the government's fiscal balance sheet is weak.'
Past experience shows loan waivers benefited only 30% of India's farmers; here again, the richer cultivator skimmed the cream, leaving very little for his poorer brethren.
The culture of these firms is alien to the Indian financial system. Distressed assets funds are known for their ruthless recovery ethics. Slicing and dicing a company and selling it on a piecemeal basis is their usual practice. This is something Indian banks are finding a little uncomfortable.
Under the new system, Infosys will handle end-to-end solution - from e-filing to return assessment to refund processing. The new portal is also expected to process the refunds within one day of filing of tax returns, in huge relief for taxpayers.
Telangana govt currently provides the state's 5.83 million farmers an income support of Rs 4,000 per acre per season, irrespective of the size of their land holding
Over the past several months, the airline has struggled to pay vendors and staff salaries on time.
If you looked back at 2018 and had to give it a name, the Year of Limitations might be the most accurate.
2018 has been a disappointing and highly volatile year for equity investors.
India imports 1.2 billion barrels of oil, and oil prices are falling, falling...
The HR challenge seems to be one of the most important issues that RBI Governor Shaktikanta Das will have to tackle.
Not only were Urjit and Rajan outsiders, they also hired laterally, bypassing the existing talent, especially in the field of economics
In terms of disability adjusted life years, an average person in Delhi lost a healthy week of their life in 2017, and almost all of it due to outdoor air pollution.
13 eminent economists, including former RBI governor Raghuram Rajan and current International Monetary Fund Chief Economist Gita Gopinath, in a report have asked the political establishment not to resort to populist tricks.
'A growth of above 7 per cent when the fundamentals of the economy are becoming stronger still makes India the fastest growing large economy.'
A staunch defender of demonetisation, it would be interesting to see how he handles the government's increasing demand for more cash from the RBI, and letting some weak banks get out of prompt corrective action.
The new governments will have to spend much more than Rs 220 billion in Rajasthan, more than Rs 160 billion in MP, and nearly Rs 30 billion in Chhattisgarh.
For willful defaulters, change in ownership accompanied by punitive action against the defaulting management is the way to go.
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