Every 30 seconds its website is connected to an SME for a loan, every five minutes it evaluates a loan, and every 20 minutes it disburses a loan.
The corridor is expected to attract around Rs 1,250 billion investment and create 4,00,000 jobs. It will start from Mysore, pass through Bengaluru in Karnataka, to connect with Chennai, Coimbatore, Salem and Tiruchy in Tamil Nadu.
'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.'
The transformational reforms like GST, Bankruptcy Code and recapitalisation of banks, Black Money Act, demonetisation, flexible inflation targeting and adoption of fiscal discipline (FRBMA), etc, have temporarily and purposefully pulled us back only to propel us forward with greater velocity, Rajiv Memani.
Defence experts want defence expenditure to be at 3% of GDP, which they consider minimum to counter the two-front threat from China and Pakistan, internal insurgencies, and dominating a 7,500 km coastline and the Indian Ocean beyond. What Arun Jaitley has given India this Budget is 2.16% of GDP, observes Ajai Shukla.
'Breaking down silos and ensuring a more integrated governance process is just as important to performance.' 'It has been a major priority in the last six years, especially in national security,' External Affairs Minister Dr Subrahmanyam Jaishankar points out when delivering the Sardar Patel Memorial Lecture-2020: India and the Post-Covid World.
We present our alphabet of 2020, pulling in everything you'll remember about this year we'd rather forget.
'We are in the reverse gear and we are not there anywhere compared to the rest of the world'
The losses in state elections in Rajasthan, Madhya Pradesh, and Chhattisgarh have put the ruling party under pressure to announce swift measures aimed at addressing rural distress and lack of employment.
'Our government has created 10 million jobs when the Indian unemployment rate is at a 45-year high.'
Rediff.com does a quick checklist on what the two manifestos have to say on hot-button issues of the day.
'The Modi government is about privatising profits and nationalising losses.'
It has been a decade since Shyam Srinivasan took over as managing director and chief executive officer at Federal Bank. He wants to ramp up the bank's unsecured lending going ahead even as it homes into the space vacated by competition. Reappointed for a fresh three-year term as the bank's helmsman, he spoke to Hamsini Karthik on the plot ahead.
The navy wants to spend Rs 40,000 crore on INS Vishal, a choice the army and air force oppose. This is as much about turf as about funding. explains Ajai Shukla.
The Nifty rose 176.50 points, or 1.74 per cent, during the week.
'This prime minister thinks he knows everything.' 'He has to consult, he has to talk and he has to mobilise the best people, but having seen him function, I have no expectations from him.'
Senior bankers are trying to impress upon the central bank that the shift to external benchmark-linked lending be postponed to April 1, 2020.
There were concerns that simply opening a bank account wouldn't constitute meaningful financial inclusion, as the poor would rarely use these accounts. However, recent data submitted to Parliament attests to increased account usage, says Ishan Bakshi.
For financial institutions, it will be an opportunity to provide better lending options. For instance, customers who pay their overdrafts on time will get access to more credit and probably at a cheaper rate.
'The reason is that you may not enter the branch but you want to see it near you as it establishes trust.'
Overall, the populist/ electoral elements in the budget have remained measured with the finance minister being clearly aware of a higher-than-expected rise in oil prices, less-than-planned tax revenues and the wider deficit for FY 17/18, constraining his margin of maneuver, says Claude Claude Smadja.
India moving in right direction on GST, says Panagariya.
Ahead of the assembly elections next year, the BJP has been wallowing in a welter of ideas that has resurrected the debate on populism versus pragmatism, as it has to pander to two important but incompatible constituencies, of the freebie consuming masses and Bengaluru's heavy hitters craving for even roads, pristine lakes and unbroken power supply, reports Radhika Ramaseshan.
In 50 days, 60% of the work force was let off in retail, agri, textile and other sectors.
Tamal Bandyopadhyay, columnist and author of several books like From Lehman to Demonetisation: A Decade of Disruptions and Sahara: The Untold Story, tells Rediff.com why Yes Bank depositors should not panic and the current crisis at India's fifth largest private lender does not pose any systemic risk.
A political party's manifesto is the first stage of building a compact with the voters in any governance plan. If that compact is dependent on a document that reeks of fiscal imprudence and lacks credibility, it is a serious setback to the country's democracy and governance, says A K Bhattacharya.
'The armed forces have been given clear indication that they have to give priority to Make in India and indigenisation and dependence on foreign source should be reduced.' 'Almost Rs 90,000 crores contracts have been signed during my tenure. Another almost Rs 70,000 crores are in the pipeline.'
Even as the government's move to hike import duties on 45 items is seen as a sign of protectionism, the prime minister was himself involved in the process.
Pensioners, India Inc may get tax breaks in Budget
The govt hiked defence budget by 7.81 per cent over last year's Rs 2.74 lakh crore.
The prime minister was often seen vigorously thumping the desk, prompting his Cabinet colleagues and NDA MPs to follow suit.
Govt keen to revive business sentiment in india.
Upset over removal of 'UP Rising' posters at Pravasi Bhartiya Divas in Gujarat, Uttar Pradesh government has planned to organise a Diaspora conclave of its own for the first time next month to woo investors and associate NRIs in development of the state.
My NPAs are reducing and recovery is going up. This will help us to augment our revenue, says R Subramaniakumar of IOB.
Oppo's FDI application approved for single-brand retail trading
About 15 lakh small and medium businesses from India are using Facebook to reach out to customers.
Sitharaman said that developed countries were blaming India for the impasse at the WTO, but India convinced them about its legitimate demand.
India's indigenous basic trainer aircraft, Hindustan Turbo Trainer-40 (HTT-40), undertook its inaugural flight at the at the Hindustan Aeronautics Limited Airport in Bengaluru on Friday.
'If Urjit Patel had resigned after the five-state elections results people would have taken a different view. So this was the right time for him to resign.' 'He rightly resigned as he felt the differences with the government were not getting settled.'
'The conception of Make-in-India, Skill India, Smart Cities, Digital India, Beti Bachao, Beti Padao and so on show a visionary breadth of mind, and Modi is almost the first political leader in India to put them into effect with single-minded zeal,' notes B S Raghavan, the former civil servant.
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