Record liquidity infusion by the central bank in the banking system during the financial year 2020-21 amid sluggish economic activity resulted in banks investing more in safe government papers than in extending loans, data from Reserve Bank of India (RBI) showed. This trend has not been seen in nearly two decades, barring 2016 - the year of demonetisation.
RBI may also be open to injecting liquidity through open market purchases of bonds but is resisting relaxing capital buffers for banks.
Various film industry veterans pay condolences to the legendary artist.
Insisting that PM Modi has consistently cared for the farmers, Goyal said the Rs 75,000 earmarked for paying Rs 6,000 per annum to each of 12 crore farmers is not one time but a 'sustainable' provision.
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SBI will hold 30 per cent in RIL joint venture
The World Bank on Sunday said the coronavirus outbreak has severely disrupted the Indian economy, magnifying the pre-existing risks to its outlook. In its 'South Asia Economic Update: Impact of Covid-19', the World Bank estimated the Indian economy to decelerate to 5 per cent in 2020 and projected a sharp growth deceleration in fiscal 2021 to 2.8 per cent in a baseline scenario.
Nobel Laureate Muhammad Yunus, whose experiment of poor men's banking in Bangladesh helped establish micro-credit movement across the developing world, will address the Indian Parliament in December this year.
'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.
The G-20 leaders under the chairmanship of Saudi Arabia's King Salman held an extraordinary video conference in which they resolved to use all available policy tools to minimise the economic and social damage from the pandemic that has killed over 21,000 people and infected more than 470,000 globally.
'One way of doing this could be offering credit guarantee to the banks, say 10 per cent, for fresh loans given to micro, small and medium enterprises,' observes Tamal Bandyopadhyay.
Asset financing firms are still witnessing subdued demand and meaningful recovery is likely only in FY16, the report said.
The task force, headed by Prime Minister Manmohan Singh's principal secretary TKA Nair, held its meeting on Monday, which was attended by senior officials of different ministries and public sector banks.
Aavas is turning heads in the country's mortgage financing space because it selected to do business in a different way, says Mudar Patherya.
The GST Council on Saturday is expected to extend the date for IGST exemption and cess on imports
In her keynote address at the 8th annual Global Entrepreneurship Summit, she said that despite the soaring rate of female entrepreneurs, women still face steep obstacles to starting, owning, and growing their businesses.
Finance Minster Pranab Mukherjee in his Budget Speech in Parliament on Friday proposed to increase the Plan outlay for the Ministry of New and Renewable Energy by 61% from Rs 620 crore in 2009-10 to Rs 1000 crore in 2010-11.
Some sectors like aviation, hospitality, travel and tourism, and automobile have witnessed zero cash flow since the lockdown began.
Finance Minister Arun Jaitley on Friday hinted at not raising tax rates and providing incentives for manufacturing.
In a short span of time, with the help of Amazon, Cloudtail was able to devise a model that could protect it from the vagaries of online retail business.
It was widely expected that this time around, the government would be less likely to initiate fresh reforms and rather loosen its belt a little to give various segments of the economy, especially the multitudes that truly constitute India, something to smile about, says Sudip Bandyopadhyay.
Sensex in green, JSW climbs higher.
While most economies contracted in the second quarter of 2020, the Chinese economy grew by 3.2 per cent.
Work on a dozen decisions to start by next week.
'Our concern is about today and there is nothing in the Budget for the MSME sector to feel positive right now.'
What you must know about your credit card billing statement to make your credit card work for you.
In view of the "runaway success" of the scheme, now it has been decided to make it open-ended with more incentives
While the surcharge on super-rich would help garner additional income of around Rs 12,000 crore this fiscal on the direct tax side.
India will not allow Chinese companies to participate in highway projects, including those through joint ventures, Union Minister Nitin Gadkari said on Wednesday amid the border standoff with China. Gadakri also said the government will ensure that Chinese investors are not entertained in various sectors like the micro, small and medium enterprises (MSMEs).
All stakeholders in the diamond industry chain from mines to retailers have to follow a system of warranty under which they have to individually declare in the invoices they issue that what they have sold are not conflict diamonds.
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.
'The CEO will neither be able to guide the senior team in operational matters nor decide on their appointment, compensation or removal.' 'Yet, the CEO is responsible for the profit and loss of the bank!' 'Why would the senior executives listen to him?' 'Which self-respecting professional would want to be a CEO with these constraints?' asks Tamal Bandyopadhyay.
Spurring the economy, currently in the throes of a slowdown, remains the prime focus for most ministries, but the government is also looking to make women's welfare and environmental protection key to policymaking in this term.
However, in recent times, the clout that trader bodies such as CAIT and other organisations like Swadeshi Jagran Manch and Laghu Udyog Bharati has is steadily increasing. Earlier this year, trader bodies were able to convince the government not to extend the deadline for implementation of the new norms in FDI policy on e-commerce.
'Igniting in this country, a false feeding of nationalism combined with religion.' 'They are promoting the religion of the majority people in the country to feed their political agenda.'
'This fund will enable micro-donations as a result of which a large number of people will be able to contribute with smallest of denominations,' a statement said. People can visit www.pmindia.gov.in to make contributions using credit and debit cards, UPI, net banking and RTGS or NEFT, it said.
Since December 2018, monetary policy has been eased substantially by RBI with policy rates being cut by 75 bps and policy outlook being changed to 'accommodative'.
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.
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.
For a borrower, who has serviced his loan without missing any repayment, the banks will be willing to take over the loan, give a top-up, and would offer lower interest rates, says Tinesh Bhasin.
He dropped those perceived to be non-performers or whose integrity came into question, and also where it was felt they needed to learn a lesson or two in humility.
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