The Indian govt & the RBI launched many schemes to ensure availability of credit during Covid, but financial institutions are still cautious about new lending.
The PM also exhorted bankers to support small businesses, SHGs & farmers. He said banks should identify bankable proposals and ensure they don't suffer in the name of past NPAs.
The banks received support from central government with solicitor general Tushar Mehta submitting that waiving off interest will have a 'cascading effect'.
IMF has $50 billion in flexible and rapid-disbursing emergency funds for developing nations, with as much as $10 billion available at zero interest rates.
Fifty years ago, on 19 July 1969, the Indira Gandhi government had nationalised 14 banks. Even today, PSUs control a substantial percentage of the deposits.
Indian judiciary has a corrosive imbalance between the bar and the bench. Those who supervise the district judiciary do so without the lived experience that is essential for meaningful reform.
November exports to the US saw 10% growth from the previous month. Overall, in the first 8 months this fiscal, the merchandise exports to the US touched has touched $59bn.
Of the total package, $649 million will be utilised for additional hardware, software, and support services, and the remaining for Major Defence Equipment (MDE).
Don’t blame misfortune. This is colossal incompetence and insensitivity. So bad, heads would have rolled even in the old PSU-era Indian Airlines and Air India.
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