Reserve Bank on Wednesday announced a slew of measures including loan restructuring for individual and small businesses hit hard by fresh COVID-19 wave. To augment supply of goods for COVID care, the central bank opened Rs 50,000 crore on-tap window to ease access to emergency health services to boost provision of immediate liquidity for ramping up COVID-19 related healthcare infrastructure and services in the country. This liquidity window is being opened till March 31, 2022, he said, adding that under the scheme, banks can provide fresh lending support to a wide ranging of entities including vaccine manufacturers, importers and suppliers of vaccine and medical devices, hospitals and dispensaries and suppliers of oxygen and ventilators importers and also patients for treatment.
The state has decided that from Monday it will allow the plying of private buses along with the opening of electronics, stationery, tea stalls, and paint and hardware stores, reports Avishek Rakshit
'I had done 23 years of very satisfying service -- 10 years in the police and 13 years in the Enforcement Directorate.' 'I had done law enforcement and thought the next step should be towards contributing to make good laws.'
'In the short term, we may see some disruptions due to Covid, but in the medium-to-long term, we should keep an eye on US inflation and 10-year bond yields.'
Finance Minister Nirmala Sitharaman on Thursday said taxpayer base has almost doubled to 1.28 crore in four years of rollout of the historic tax reform and the enhanced GST mop up in the recent months should now be the "new normal". In a written message to tax officers on the fourth anniversary of GST rollout, she said implementing any reform of this scale in a large and diverse country like India can be highly challenging, but GST has brought about ease in taxpayer compliance and reduced common man's tax burden.
Here's all you need to know about it.
The Delta plus variant of COVID-19 has greater affinity to lung tissues as compared to other strains but it does not mean that it will cause severe disease or is more transmissible, head of coronavirus working group National Technical Advisory Group on Immunisation (NTAGI) Dr N K Arora said.
The beneficiaries of the second set of announcements are expected to be micro, small, and medium enterprises, farmers, women, poor, migrant workers, and other marginalised sections of the society, reports Arup Roychoudhury.
The Ministry of Home Affairs (MHA) on Wednesday allowed cinema halls and theatres to operate with more people while swimming pools have been permitted for use by all in fresh COVID-19 reopening guidelines.
'The growth drivers are mostly invisible, but the growth is undeniable at least for now,' notes Debashis Basu.
"We require new rules and laws to tackle and manage. The government is already working in this direction," he added.
Banerjee expressed her sadness over Governor Jagdeep Dhankhar taking to the Twitter frequently to criticise of her government and urged the governor to cooperate with it to maintain peace in the state.
On Twitter, the prime minister currently has 50.7 million followers and now stands tall among the world leaders on the micro-blogging site.
On November 12, 2021, the Reserve Bank of India (RBI) decided to ring in uniformity in asset classification and income recognition across all lending institutions. Shadow banks, or non-banking financial companies (NBFCs), like commercial banks, are to test non-performing assets (NPAs) on a daily basis and upgrade them to "standard assets" only when interest and principal arrears are settled by borrowers. This is going to create all manner of headaches for shadow banks and their clientele. Says Y S Chakravarti, managing director and chief executive officer (CEO), Shriram City Union Finance: "NPA levels will go up, especially of small borrowers.
Building 6 conventional submarines is one of the Indian Navy's most important weapon construction programmes.
Farmers protesting at various sites on the border of Delhi on Monday unequivocally said they are only concerned about their common goal of having the three farm laws repealed, and what has been offered to the agriculture sector in the Union budget did not matter.
In fact, the Taliban apparently collects about 10 per cent as cultivation tax from opium farmers and 15 per cent as heroin tax from laboratories and smugglers that smuggle narcotics into Pakistan. This, by itself, is a revenue stream estimated at USD 250-300 million.
Laxmi Sorte and Kaustav Ghosh are on a 101-day road trip across India to support and encourage local businesses affected by the pandemic.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Flush with liquidity, banks are eager to lend. And, therein lies the problem, warns Tamal Bandyopadhyay.
Reserve Bank of India Deputy Governor M Rajeshwar Rao on Wednesday said while the central bank will foster growth in the microfinance (MFI) sector, the lenders in the space should not throw caution to the wind to achieve higher asset growth and returns. MFIs should not try to mimic the strategies of mainstream finance, as those serving the microfinance borrowers have a greater need to balance the social objectives with their lending operations, he said.
Uttar Pradesh, last year, recorded the most 2,60,028 deaths attributable to air pollution, followed by Maharashtra at 1,08,038 and Bihar 96,967, it said.
Banks are set to sell dud-loans worth Rs 90,000 crore of 22 firms in the first tranche to the National Asset Reconstruction Company (NARCL). It's reason for cheer given that such sales to asset reconstruction companies (ARCs) have been poor in recent times. In fiscal 2020, their assets under management (AUM) contracted by 4 per cent; and in fiscal 2021, it fell by another 100 basis points to Rs 1.07 trillion. So, why are we where we are?
'Whatever I did, I did for the farmers and whatever I am doing, I am doing for the country'
'The markets have corrected almost 8-9 per cent from their highs, so one can accumulate quality stocks at reasonable prices.'
The pressure on Delhi mellowed Lucknow's ruling dispensation's initial enthusiasm to try and draw electoral mileage from the developments in Afghanistan.
The tank, designed, developed, and manufactured by the Defence Research and Development Organisation's Combat Vehicles Research and Development Establishment and made in Tamil Nadu, will be used to protect northern borders.
The proposed amendments to the Consumer Protection (E-Commerce) Rules, 2020, that are envisioned to protect consumer interests, may further compound the impact of multiplicity of regulations on the e-commerce sector, the Indo-American Chamber of Commerce (IACC) had told the ministry of consumer affairs. IACC, the apex bilateral chamber for Indo-US business, had told the government that the proposed amendments would increase compliance liabilities that risk severely impairing the growth of the sector.
Mudra Bank will be a Rs 20,000-crore institution, which would "primarily be responsible for refinancing all micro-finance institutions.
The focus will definitely shift towards more meaningful trips than the kind of micro trips we were into before, says Varun Arora.
Shifting to floating rate deposits can work as an anaesthetic gel for some customers, points out Tamal Bandyopadhyay.
'Are they assuming that by the end of May or the 15th of June, we will see the end of the pandemic?'
In a series of tweets, the senior leader of the ruling Bharatiya Janata Party also alleged that the legacy data were manipulated for including names of doubtful persons as alleged by many.
A Twitter spokesperson on Tuesday said the company continues to make every effort to comply with the new guidelines, and is keeping the IT Ministry apprised of progress at every step of the process.
China's official media has welcomed Prime Minister Narendra Modi's initiative to open an account on the popular Chinese social microblog Weibo, saying he scored a "big hit" ahead of his visit here next week.
Home sales in the top 10 cities - Ahmedabad, Bengaluru, Chandigarh, Chennai, Hyderabad, Kochi, Kolkata, Mumbai Metropolitan Region (MMR), National Capital Region (NCR) and Pune - have declined at a compound annual growth rate of 8% since 2011.
Without making any direct reference to the three new farm reform laws or to the three-month-old agitation by farmers, Modi said there is a need for expanding options for the country's farming community to sell agri produce.
The central probe agency had on Friday carried out a fresh round of searches in connection with the case, they said.
Joining her on the list is her brother-in-law Kanye.
Chief Secretary A K Tripathy and Director General of Police (DGP) Abhay rushed to the pilgrim town to make the necessary arrangements. "The DGP and I are rushing to Puri to take stock of the situation as per the direction of the chief minister. We will camp there," Tripathy said.
