In 2009, the UPA government, had announced a slew of measures to boost liquidity in NBFCs. These included a scheme for providing liquidity support to NBFCs having assets size of over Rs 100 crore through a SPV.
Large urban co-operative banks may come to be solely under the provisions of the Banking Regulation Act, even as the smaller among them are to remain within the exclusive fold of the Registrar of Co-operative Societies. The upcoming changes will bring the curtains down on the vexed issue of dual control of UCBs, which has been in vogue for 54 years. The new framework will affect 1,551 UCBs in the country, which had a total business of Rs 7.36 trillion.
States are planning to pass resolutions in their legislative assemblies; however, such tactics will be used as the last resort if the Centre continues to stall allocations.
Opposition parties, though resigned to the fact that they lack the numbers to defeat or stall the bill in the two Houses, have decided upon different tactics that they would employ to highlight their reasons for opposing it.
Unsure about having the numbers in the Rajya Sabha, the Congress, the Trinamool Congress and other parties have decided they will create awareness about the "divisive" nature of the proposed legislation, reports Archis Mohan.
In a resolution passed at its national assembly in Haridwar, the SJM said the Modi government's proposed strategic divestment of PSEs was an "imprudent business decision" and "against national interest".
Though the NITI Aayog did not give its estimates for the required GDP growth at constant prices, economists pegged it at 9 per cent, a feat not seen since the GDP series was revised with 2011-12 as the base year.
As the Congress party prepares to launch protests against the economic slowdown, Chhattisgarh Chief Minister Bhupesh Baghel tells Archis Mohan that his state has escaped its effects as his government has pursued policies that have put money in the pockets of workers, farmers, housewives and tribals, which has helped spur demand.
The 19-year-old partnership ended after the ruling party refused to accede to the ally's demand for 17 of 81 seats.
'RCEP may be in India's long-term interest, but it is certainly not in India's short-term and medium-term interest.'
A small step in this direction was taken with making triple talaq a punishable offence in the last Parliament session. But UCC is difficult to implement, reports Archis Mohan.
In the years to come, Dushyant may need to compete for the leadership of the Jat community with Hooda's son Deepender, and other Jat leaders, reports Archis Mohan.
'One of the ways to do that is to ensure that NBFCs have got liquidity.' 'If we don't do that, this mood of gloom will continue.' NBFCs need to be provided with liquidity if they have to start lending.
'The decision of August will have to be taken back. This is our resolve. When it will happen, how it will happen, the judge of our case are the people of this country.'
The reshuffle could take place before the start of the winter session of Parliament.
The assembly election results are likely to put a lid on the impending battle the old guard and young Turks, strengthen the hands of the veterans, and force the younger leaders to negotiate a truce. Archis Mohan reports.
The tepid economy has hit most sectors, from automobile and pharmaceutical industries in the district to its tourist footfall, reports Archis Mohan
He said trust and confidence were the backbone of any financial system and one should never underestimate the power of ethics and values.
The BJP's effort comes in the wake of Commerce and Industry Minister Piyush Goyal set to attend the eighth RCEP ministerial meeting in Bangkok from October 10 to 12.
Senior bankers are trying to impress upon the central bank that the shift to external benchmark-linked lending be postponed to April 1, 2020.
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