Finance Minister Nirmala Sitharaman on Wednesday announced Rs 3 lakh crore collateral free automatic loan for businesses, including MSMEs, to benefit 45 lakh small businesses. Detailing parts of the Rs 20 lakh crore economic stimulus package, she said this loan will have a 4-year tenure and will have 12-month moratorium, she said.
Jammu and Kashmir Chief Minister Omar Abdullah, who had reservations against the holding of assembly polls in the state soon, on Saturday said there was no question of not contesting the elections and "we will put our best foot forward."
'One of the ways to do that is to ensure that NBFCs have got liquidity.' 'If we don't do that, this mood of gloom will continue.' NBFCs need to be provided with liquidity if they have to start lending.
Governments must encourage micro-irrigation, use of natural manure and pesticides in a big way. Farm income can be doubled by reducing cost as much as by increasing MSP, says Sanjeev Nayyar.
US Secretary of State John Kerry visited the Dunkin' Donuts store in Islamabad in the Pakistani capital today to a get a 'little slice' of the popular American breakfast snack, and was soon trolling on Twitter.
She also ordered increase in gold allocation for women beneficiaries and reducing the working hours of state-run liquor outlets.
In Gujarat, of the 12.5 million hectare of area under cultivation, while six million is dependent on rainfall, two million is covered by groundwater, a bulk of which is said to be in north Gujarat. Scanty rainfall in the last one and half years has not only depleted groundwater level but also affected dams.
'I have no problems with the finance ministry or with state governments treating petrol pump prices as the last resort for meeting their ambitious spending targets with very limited revenue resources.' 'But let's do away with this smokescreen of free pricing of petrol and diesel and go back to administered pricing regime,' says Dr Sudhir Bisht.
Simpler GST structure will be key poll plank, Congress sources tell Archis Mohan.
At a time when the Micro Finance Institutions (MFIs) have drawn flak due to steep interest rates charged by them, the Reserve Bank of India (RBI) Deputy Governor K C Chakrabarty has categorically stated that such institutions cannot play any role in financial inclusion.
All civilian drone operations will be restricted only during day time and flying will be restricted within visual line of sight which usually would be 450 metres, the regulation says.
A search of Ardebili's computer had revealed email communication between Ardebili and Vikramaditya, culminating in Vikramaditya forwarding a price quote and bank account information to Ardebili for various items, including digital microwave radios, the statement said.
Stating that dialogue strengthens democracies, Gujarat Chief Minister Narendra Modi today thanked the British Members of Parliament for inviting him to the United Kingdom in the spirit of dialogue and engagement.
Sunshine Schools are looking to attract interest from members of the urban 'aspirational' class -- vegetable vendors, security guards, drivers, etc -- who cannot afford the fees charged by budget private schools.
The company's market valuation stood at Rs 10,972 crore in morning trade.
Ironically, it was Twitter that did Shashi Tharoor in. Though the former minister of state external affairs has maintained a stoic silence on the micro-blogging site ever since his unceremonious exit, his followers are on the rampage
The RBI panel has also recommended a government-sponsored 'fund of funds' of Rs 10,000 crore to support the venture capital and private equity firms investing in the MSME sector.
The Budget has stuck to annual increases in agri credit targets.
'Dear PM, INC supports the salary cut for MPs. Please note that MPLAD is meant to execute developmental works in the constituency. Suspending it is a huge disservice to the constituents and will undermine the role and functions of MP,' Congress chief spokesperson Randeep Surjewala said on Twitter.
'The solution is to enable a graceful transfer of the deposit and funding 'franchise' from capital-deficient firms to capital-surplus firms.' 'This will expand credit intermediation, bring down its costs, and put the financial sector on a definite path of recovery,' argues former RBI deputy governor Viral Acharya.
Congress MLA Jaiwardhan Singh on Thursday said his that his father and party general secretary, Digvijay Singh's move to remarry was a "personal matter" and extended full support to him.
Modi said there was a need to make transactions 'transparent' in India.
If banks cannot charge interest from borrowers during the moratorium, who will bear that cost? Should the depositors subsidise the borrowers by foregoing interest on deposits? In that case, we will turn banking on its head! notes Tamal Bandyopadhyay.
Currently, banks follow system of internal benchmarks, including Prime Lending Rate, Benchmark Prime Lending Rate, Base rate and Marginal Cost of Funds based Lending Rate.
The two entities' combined distribution network would comprise 4,182 banking outlets and 476 ATMs across 34 states and Union territories of India, with more than 31,000 employees serving about 15 million customers across the country.
The expectation that Mr Modi would be a major reformer, capable of reinvigorating the Indian economy, were based on a complete misreading of both his actions and his performance as Gujarat chief minister, says Mihir S Sharma.
The government on Tuesday extended the deadline for filing income tax and GST returns, raised the threshold of default that could trigger insolvency of a company, and waived charges on cash withdrawals from ATMs of other banks as a precursor to a broader stimulus package for the economy distressed by the coronavirus outbreak.
From scanning hospital entrants to disinfecting hospital areas and floors, robots are being roped in for tasks considered high-risk, says Peerzada Abrar.
"In terms of local taxes, in terms of local small business productivity, local large business competitiveness, their educational outcomes, their entrepreneurial work, that's what matters," the Microsoft CEO said.
The NDA government will be following the footsteps of its predecessor, the UPA, which had introduced the concept of "loan mela" to boost credit by directing banks to lend to people through public meetings.
Modi said his government was committed to provide equal opportunities to all sections of the society.
Schools were ordered shut, flights suspended and the stock market was closed down in the United Arab Emirates as rare heavy rain hit the desert Gulf state.
Within 24 hours of the announcement of poll dates, traction on poll-based apps has risen drastically, report Karan Choudhury and Neha Alawadhi.
The mega campaign, to start on Mahatma Gandhi's birth anniversary, will be conducted just before the elections in three major Bharatiya Janata Party-ruled states and also before the 2019 general elections.
Reserve Bank of India Governor Shaktikanta Das on Friday said the central bank will ensure adequate liquidity in the system to ease the financial stress caused by the Covid-19 pandemic. The central bank reduced the reverse repo rate -- the rate at which banks park their fund with the central bank -- by 25 basis points to 3.75 per cent.
'Demand apology from the Congress Party for insulting the people of India's North East & Tribals'
The bosses of SBI, Union Bank and Central Bank have been driving down to their offices everyday to take stock of the biggest loan drive ever undertaken for MSMEs, discovers Tamal Bandyopadhyay.
The budget for the 'Shiv Smarak' has risen 35 times since it was first conceived.
'I put forward a few legitimate questions. I didn't expect so much chaos just because I used a word which starts with 'V'.'
Himachal has a tradition of change in government after every elections and going by the trend, this time it is the turn of the BJP which is upbeat after exit poll results.
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