The net NPA ratio declined to 3.7 per cent in September 2019 from just below 4 per cent in March 2019, reflecting increased provisioning.
'The purposes of our document are three-fold: To lay out the opportunities that India enjoys in the international sphere; to identify the challenges it is likely to confront; and to define the broad approach that India should adopt as it works to enhance its strategic autonomy in global circumstances that are likely to remain volatile and uncertain for some time to come.'
One of the chapters in the document titled 'Asian Theatre' has quite elaborate comments on China, and opines that India's China strategy has to strike a careful balance between cooperation and competition, economic and political interests, bilateral and regional contexts. Rediff.com publishes verbatim a part of the chapter 'Asian Theatre'.
Economists want Budget to focus on infrastructure, have a clear strategy on disinvestment and state measures to boost investment climate.
With the fiscal deficit likely to shoot up during 2011-12, leading economists urged Finance Minister Pranab Mukherjee to expedite tax reforms to increase revenue and take steps to bring economy back on high growth path.
It was not immediately clear when Garg submitted his voluntary retirement scheme application to the government. It was also not known if the government would accept the application. If he hadn't applied for VRS, he would have retired from government service at the end of October 2020 on attaining of 60 years of age. Garg did not answer phone calls seeking his comments.
Chief Economic Adviser K V Subramanian on Friday said there is an "upside potential" in the estimates about the economy during the current financial year amid a faster-than-expected recovery. He said the final print could be better than GDP estimates given by various institutions, including the Reserve Bank of India, which projected contraction of 9.5 per cent during 2020-21. During the second quarter, India's economy recovered faster than expected as a pick-up in manufacturing helped GDP clock a lower contraction of 7.5 per cent and held out hopes for further improvement on consumer demand bouncing back.
The Special Task Force of Kolkata police on Wednesday arrested a 14-year-old student for allegedly sending a 'mischievous' e-mail to media houses claiming responsibility for the Delhi high court blasts.
With inflation topping the government agenda, economists have told Finance Minister Pranab Mukherjee to focus on policies to boost agricultural productivity in the upcoming Budget for 2011-12.
A new committee chaired by former Chief Economic Advisor Shankar Acharya will examine the feasibility of having a 'new financial year' to coincide with the calendar year.
'If the BJP continues with Nitish as CM, it will not consolidate its position further in future.'
India Inc on Friday said RBI's 12th rate hike, since March 2010, is unlikely to tame rising inflation and could instead lead to a further slowdown in investments and industrial growth.
Non-performing assets of banks have increased from Rs 2.75 lakh crore in March 2015 to Rs 7.33 lakh crore as on June 2017.
The industry body Ficci, whose Secretary General Amit Mitra is among the winning Trinamool Congress (TMC) candidates in West Bengal elections, on Friday described the TMC victory as "historic".
Maruti, which is majority owned by Suzuki Motors of Japan, pays massive tax, generates huge employment (its staff are almost entirely Indians) and also makes its investors extremely rich. JLR, on the other hand, though owned by Tata has its factories in England and China and in every way (sales, employment, technology) has nothing Indian about it.
PSBs have been requested to reach out to MSMEs to provide bill discounting to them against their dues since they suffer the most from shortage of cash.
As per the RBI Act, the central bank should have four deputy governors - two from within the ranks and one commercial banker and the fourth one an economist to head the monetary policy department.
Those behind recapitalisation are neither aware nor do they care. After all, they have no skin in this game. And the Lok Sabha elections are round the corner. That's what they care about, points out Debashis Basu.
Whenever people think of India, they will think of Ficci as a place they could go to facilitate investment, says Rajiv Kumar.
With a view to protect prudent commercial decision of bankers, the government has taken a slew of decisions, including doing away with personal responsibilities of MD and CEO of PSBs for compliance in dealing with large value frauds committed by bank officials.
These PSU banks also account for the lion's share of bad loans or NPAs plaguing the sector and need crores of rupees in new capital in the next two years to meet global Basel III capital norms.
In a blow to the Naxals, top Maoist leader Kanchan has been arrested along with two others from the outskirts of Kolkata. Kanchan, one of the top Maoist leaders after Kishenji, had planned and implemented the Lalgarh movement in November 2008. The Maoist Central committee member, who was wanted in several cases of sedition, was arrested by the Special Task force of the police on Friday. "Yes, we have arrested Kanchan from Kolkata," said a police official.
Corporation Bank is the biggest beneficiary of this round of capital infusion with Rs 9,086 crore of funding, followed by Allahabad Bank with Rs 6,896 crore.
Banks will also have to seek borrower's status report from Central Economic Intelligence Bureau on the account turning NPA
With the fresh arrest, all the nine persons named in the FIR have been sent to custody.
The goons beat up Vedmitra Chaudhury, a Lance Naik, for objecting to the men attempting to molest a girl.
A court has issued a stay on the release of Oru Naal Varum till May 21 on a petition alleging plagiarisation.
Counting of votes in all elections will be held on May 2.
'An armed helicopter equipped with counter-drone systems will provide the airborne counter-drone capability and flexibility needed to protect India's critical assets.'
Tuesday's meeting at the PM's residence, attended by all the five secretaries in the finance ministry besides top officials of other economic ministries and NITI Aayog, cleared a five-year vision plan for the government to make India a $5-trillion economy by 2024.
Since no insurance companies share data on their claims with each other, the finance ministry and Irdai suspect that a lot of the resultant claims are duplicates.
Economists expect a push to reforms by newly-appointed Finance Minister Pranab Mukherjee, who they said is the right person to head the important ministry.
'Log kehte hai desh to humne Modi ko diya hua hai, par pradesh nahi diya hai (we have given Modi the mandate to run the nation, not the state).'
India's economy recovered faster than expected in the September quarter as a pick-up in manufacturing helped GDP clock a lower contraction of 7.5 per cent and held out hopes for further improvement on better consumer demand. The gross domestic product (GDP) had contracted by a record 23.9 per cent in the first quarter of the 2020-21 fiscal (April 2020 to March 2021) as the coronavirus lockdown pummelled economic activity.
'India needs offensive and defensive security measures to protect itself.'
'The BJP and RSS accept that the party is winning election after election because of Modi.' 'If the BJP is winning due to Modi, it will also lose due to Modi.'
'The attempt to build a negative narrative about India's economic performance is disingenuous.' 'For the investors as well as the targeted beneficiaries of welfare schemes, the ground reality is very different,' argues Rajiv Kumar, vice-chairman, NITI Aayog.
This is not her first stint in North Block or in leading a major economic ministry. She started Prime Minister Narendra Modi's first term as minister of state for finance, was made the commerce minister, and then became the defence minister.
Motor insurance is expected to generate largest claims for the companies whereas for crop insurance, the Agriculture Insurance Company is expecting claims of about Rs 15-16 crore
