Finance minister Arun Jaitley has few feathers in his cap for taking serious eff
MUDRA bank will help microfinancing firms to lend more.
'We want to send a notice to the BJP that Rajputs are no longer their slaves.'
Experts attribute the lower target to increased allocation under the credit guarantee scheme for small businesses. Out of the Rs 3.21 trillion worth loans sanctioned under the Pradhan Mantri Mudra Yojana (PMMY) in the last financial year, Rs 3.12 trillion were disbursed to entrepreneurs, according to official data.
The finance minister chaired a meeting through video conference with major private banks and NBFCs to ensure effective rollout of ECLGS and uninterrupted liquidity to Indian MSMEs in this difficult time.
Banks in India must have a modern approach, suggests a panel comprising of banking bigwigs.
Whether it was the MGNREGS or the NFSA or the Aadhaar-based DBT scheme for cash transfer, the Modi government has built on the basic architecture created by the Singh government. Policy makers in the Modi government, instead of discarding them as products of the previous political regime, worked on them, expanded their scope and reach, and used new tools to improve their performance, explains A K Bhattacharya.
Prime Minister Narendra Modi asserted on Wednesday that his government's action against corruption has made some people angry but he will not turn back in this fight against graft and nepotism, however big an alliance his rivals form against him.
Finance Minister Nirmala Sitharaman on Tuesday held a review meeting on credit guarantee scheme with heads of public sector banks, and asked them to expedite loan disbursement under the Rs 3-lakh crore ECLGS for MSME sector, hit hard by coronavirus-induced lockdown. The meeting on Emergency Credit Line Guarantee Scheme (ECLGS) was held through video conference, and the minister appreciated the efforts of banks in execution of the scheme.
HDFC Bank is to sell gold bars with the launch of a new service, 'Mudra' where it would offer customers and non-customers branded five gram gold bars with a purity of 99.9 per cent.
In the second and concluding part of his interview, Gurumurthy outlines the two areas he believes the government should focus on.
Public sector banks have lost nearly Rs 2.85 lakh crore on account of loan dues of 13 corporates even as the banks are used to bail out ailing financial institutions such as Yes Bank and IL&FS, United Forum of Bank Unions alleged on Monday. In a press release, UFBU's convener B Rambabu said the organisation calls for a two-day all India bank strike on December 16 and 17 protesting against Banking Laws (Amendment) Bill 2021 and opposing the Centre's alleged move to privatise PSBs. According to the statistics given by the UFBU, the 13 corporates' outstanding dues were at Rs 486,800 crore and it was resolved at Rs 161,820 crore resulting in a loss of Rs 284,980 crore.
'We can't have the best of both worlds -- large, efficient, world class government-owned banks, doing social banking and making profits. 'Why not set them free from the shackles of such obligations and run them as business units?' says Tamal Bandyopadhyay.
Experts have started giving comments on provisions that the govt must make in Budget 2016-17.
On the International Women's Day, Prime Minister Narendra Modi on Sunday denounced crimes against women, saying "our heads hang in shame", and announced that the government is setting up 'One-Stop-Centres' besides a helpline for those facing violence, abuse or harassment.
The Congress has made lack of jobs, along with agrarian distress, its key election plank in the run-up to the December 7 assembly polls.
'Vote banks will change affiliations and the BJP will come out with good success in Kerala.'
Since 2014, many of Mohan Bhagwat's speeches have acted as cues for government policy.
Prime Minister Modi has said it is their small units that drive the Indian economy.
Jaitley said the government had earmarked Rs 25,000 crore (Rs 250 billion) for recapitalisation.
Prime Minister Narendra Modi hit out at the Congress for "misusing" Parliament to stop the country's growth and hailed Samajwadi Party chief Mulayam Singh Yadav for "understanding this conspiracy" and working to end the logjam in the House.
Indian economy is expected to expand at 8.5-9 per cent over 10-15 year time frame once the structural issues hampering growth are addressed by the government.
Long-term investors should consider moving into smaller stocks. Rather than try to pick stocks, it makes sense to build a diversified portfolio by exposure across midcap and small caps funds, suggests Devangshu Datta.
The party is using the two year occasion to launch its election campaign in the state, which was key to them reaching simple majority in the Lok Sabha in 2014.
If there were an Olympics for bank frauds in India, Rishi Agarwal, founder and former chairman of ABG Shipyard Ltd, a nephew of the Ruia brothers of the Essar group, would bag the gold, pushing Nirav Modi to his right, says Tamal Bandyopadhyay.
Syed Firdaus Ashraf/Rediff.com lists 11 Modi flagship schemes that may have been gamechangers in the Lok Sabha election.
Prime Minister Narendra Modi asserted that the BJP has emerged as the "third force" in Kerala that will replace the two fronts in the next year's assembly elections.
'Raghuram Rajan is a wonderful economist, but he is not a wonderful Indian economist.' 'He doesn't understand India in the granular form.' 'India exists only from Delhi to Nariman Point for him.' 'India is much, much bigger and complex.' 'The new RBI governor shouldn't get ready to open his umbrella when it rains in America'
Prime Minister Narendra Modi on Sunday said he proposes to put in place 'Ek Bharat, Shresht Bharat' scheme aimed at strengthening the country's unity and harmony.
Banks have collected about 1,500 kg of gold from temples and trusts under the Gold Monetisation Scheme (GMS) since its launch last November.
Jaitley slams Rajan for MSME banking crisis statement, says postmortem is easier than action
The scheme is the biggest fiscal component of the Rs 20-lakh crore Aatmanirbhar Bharat Abhiyan package announced by Finance Minister Nirmala Sitharaman last month.
'Wherever in the world there is political instability, those countries are beset with severe crises today. But India is in a much better position than the rest of the world due to the decisions taken by my government in the national interest,' President Droupadi Murmu said in her address to both Houses of Parliament.
PM extended some old schemes and finally said yes to one that was legally mandated for past 2 years.
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.
AIBOC in a letter to the Prime Minister, has said the government should not expect the banking fraternity to "join the political campaign of #MainBhiChowkidar" unless issues related to merger of banks, salary revision and staff recruitment, among others, are addressed.
The best investment schemes fail if they don't offer incentives to intermediaries to push investors.
With his strong views on Bharatiya economics, his appointment to the RBI board may well presage interesting times, says Archis Mohan.
The Union Cabinet on Wednesday approved additional funding of up to Rs 3 lakh crore at a concessional rate of 9.25 per cent through the Emergency Credit Line Guarantee Scheme (ECLGS) for the MSME sector hit hard by the coronavirus crisis. The ECLGS was the second-biggest component of Rs 21 lakh crore comprehensive package announced by Finance Minister Nirmala Sitharaman last week.
On reforms in pipeline, she said the government is for universal right to minimum wages and wants to remove regional disparity through a national floor wage.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances