The cut-off date the RBI chose was March 1, 2018. This meant that by the end of August if these accounts were not resolved, then they would have to proceed through insolvency.
It is, thus, logical that some compensation is paid to a lender, especially when a customer is poached within two years, Parekh noted.
Home Minister Rajnath Singh said that the decision could cost the government roughly Rs 15,000 crore.
Is the curated and limited data put out by the central government sufficient enough to pass a judgement on the trend in GST collections, particularly that of the Centre?
In addition, he will have to move swiftly to control any damage that may have been caused to the bank's image and investor confidence due to the loan controversy
The first of a two-part series explores how the proceedings under the IBC have taken off and whether the code is helping banks recover their unpaid loans
Economists, however, caution against interpreting the data as a broad-based revival
Recently, the government announced yet another ambitious scheme aimed at providing health insurance to 50 crore individuals.
The RBI on April 6 directed all payments service providers to make sure "that the entire data relating to payment systems operated by them are stored in a system only in India."
With the creation of the state of Telangana, additions were made to ToRs of the 14th Finance Commission to make recommendations for the newly created states after the reorganisation of Andhra Pradesh.
Income velocity based on currency with the public went down from 0.93 in October to 0.84 in March says a report from SBI's economic research department
As yields on 10-year government bonds rose from 6.65% in April 2017 to around 7.50% now, liquidity pressures have increased the cost of funds for housing finance companies.
The cash crunch following demonetisation and transaction fees that do not cover costs are among the reasons why the sector is struggling.
Generally, the central bank grants its approval by mid-March, or latest by March 31, but most banks have not received RBI approval on bonus packages this year.
There is a narrow chance that the central bank may cut rates in the future, according to a poll of 15 economists and treasurers.
'We have 100,000 students going abroad every year.' 'So, we have room for at least 100 universities of very high quality to service those 100,000 students.'
With certain quarters demanding privatisation of public sector banks in the aftermath of the alleged fraud at Punjab National Bank (PNB), Economic Advisory Council to the Prime Minister chairman Bibek Debroy tells Sanjeeb Mukherjee, Ishan Bakshi and Indivjal Dhasmana that reducing government equity even to zero would not mean giving up of government control over these banks.
Infrastructure, stricter implementation boost commercial vehicle sales
State Bank of India hikes lending rates, and other banks pick up the signal.
Customers have other options available to them to do low-value transactions, if wallets start mandating full KYC and would switch to those.
© 2025 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances