'We have already sanctioned loans worth over Rs 3,000 crore to around 120,000 customers.'
India needs a place where all regulators could gather and function as in a war room.
Auto-debit payment bounces have gone up for the second consecutive month in May, emphasising the stress building up due to a halt in economic activities as authorities lock down various parts of the country to stop the spread of the virus in the second wave. According to the National Automated Clearing House (NACH) data, in May, of the 85.7 million transactions initiated, 35.91 per cent, or 30.8 million transactions, failed.
From 1952 to 1967, each of the three Lok Sabhas sat for an average of 600 days and more than 3,700 hours. In comparison, the 15th Lok Sabha -- from 2009 till 2013 -- has met for just 345 days and 1,331 hours, says Shreya Singh
Entrepreneurs to get support from the government
Multiple organisations of different kinds with overlapping goals would be a dream situation for those who believe in competition and innovation.
In an affidavit filed by Union finance ministry on behalf of the Union of India, it said that the relief to all borrowers in respect of compounding of interest during the period of moratorium would be admissible to the categories specified irrespective of whether the borrowers had availed the moratorium or not.
'In their over-enthusiasm to clean up the system, both the banks and the regulator should not forget that the key to the insolvency law is revival of companies -- recovery of bank dues is an offshoot of that,' points out Tamal Bandyopadhyay.
'Look at the number of billionaires, the number of new billionaires in India.' 'Adani and Ambani are not the only ones.' 'What's wrong with people making money as long as it benefits us?'
The government is going all out to spread awareness about the new indirect tax regime, and training lawmakers is being seen as a necessary first step.
The first dimension of this vision will be to build physical as well as social infrastructure for a $10-trillion economy and to provide ease of living: Goyal.
What will be its impact on the banks's balance sheets? Since banks need to provide for 10 per cent of the loans restructured, they would need Rs 50,000 crores to Rs 80,000 crore for this purpose, notes Tamal Bandyopadhyay.
'The IPO window has been more or less open since the new government in 2014.'
To deepen the financial inclusion process, and help get more people under the formal financial system, the RBI has mooted the idea of small banks and payments banks.
Government looking at cushioning slowdown due to demonetisation with sops and higher outlay for micro, small and medium enterprises, agriculture, and affordable housing.
Reserve Bank Governor Raghuram Rajan on Friday said banking sector will see major changes in the coming years.
While most economies contracted in the second quarter of 2020, the Chinese economy grew by 3.2 per cent.
As India emerges from the COVID-19 crisis, the ninth budget under the Modi government, including an interim one, is widely expected to focus on boosting spending on job creation and rural development, generous allocations for development schemes, putting more money in the hands of the average taxpayer and easing rules to attract foreign investments.
While players in the financial ecosystem are opening up to the idea of receivables funding for the sector, this market needs a regulator, which a Parliament panel feels only RBI can provide.
NDA government has shunned populism.
Industry experts estimate that demand for loans from the sector outstrips supply by more than $80 billion.
'We get to know secrets such as some of India's top-rated firms do not always make payments when due and many State-owned, listed, enterprises that borrow in bond markets default regularly.' 'Without naming the bank, he says that ever-greening of poor loans by a part of India's shadow banking lay at the doorstep of India's banking, notably 'one private bank'.' Viral Acharya's Quest for Restoring Financial Stability in India won't be music to many ears, observes Tamal Bandyopadhyay.
For existing technologies, unless appropriate financing is available, deployment at scale is difficult.
'These are interesting days for watchers of English cricket and central banking,' points out Amol Agrawal.
Even if Mudra steps in to play its main role of refinancing at some stage, the responsibility for the bad loans remains with the banks.
The origin of the challenge is the so-called "fresh start" process. Many in the MFI industry apprehend that such a law in India will encourage small unsecured borrowers to default and destroy the credit culture. So, while'Fresh start' is a welcome step as it will free up the debtors from the archaic laws of the colonial era, debtors need handholding and counselling to prevent any misuse, says Tamal Bandyopadhyay.
A Bangladeshi commission has proposed the government takeover or split the Nobel-award-winning Grameen Bank into 19 parts, sparking criticism with several analysts fearing it to be a systematic move to destroy the pioneering micro lending agency.
Financial planners advise against putting capital to work by anticipating what might go up or down.
Moody's Investors Service on Friday said India's economy is expected to contract for the first time in more than four decades saying economic damage owing to the coronavirus-induced lockdown will be significant with lower consumption and sluggish business activity. Even before the coronavirus outbreak, Indian economy already was growing at its slowest pace in six years and with the stimulus measures announced by the government falling short of expectations, the disruptions are likely to be greater. "We now expect India's growth to register a real GDP contraction for the fiscal year ending in March 2021 (fiscal 2020-21), from our earlier projection of zero growth," it said in a research note.
Is the RBI unable to accept with grace that beyond 55, one can have the ability to head the compliance functions in a bank, asks Tamal Bandyopadhyay.
'What we need is right skilling, re-skilling and up-skilling.'
Education, jobs, health and more: Experts share their wishlist.
The RBI has agreed to consider the application of India Post in consultation with the government.
Finance minister Arun Jaitley has few feathers in his cap for taking serious eff
Medha is an organisation created with the idea of bringing in better employment opportunities and life for educated youth.
Alipay payment service is about bringing the world's consumers and businesses together.
In 2012, Akula quit as chairman of Bharat Financial Inclusion (formerly SKS Microfinance), which he'd founded and led to a successful initial public offering
A well-run non-banking company has better margins than a bank, but the objective of setting up Ujjivan was to provide comprehensive financial inclusion, Ujjivan Small Finance Bank MD & CEO Samit Ghosh tells Anup Roy in an interview.
'After that, volumes and prices would move up.'
Jaitley's team presents a quintessential mix of foreign-educated, intellectual technocrats and seasoned bureaucrats
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