India’s planned bad bank, with the working name of National Asset Reconstruction Co. Ltd, will keep its debt to equity ratio at 1:1, said Sunil Mehta, CEO, Indian Banks’ Association.
RBI’s relief steps are centred on small borrowers and entities in unorganised sector. Credit needs of the healthcare sector are addressed too. Implementation now holds the key.
A Rs 50,000-crore window for healthcare sector, loan repayment relief for individuals and small firms, and a relief from updating KYC are some of the measures announced.
According to bankers, total debt recast will be around Rs 3 lakh crore. Shapoorji Pallonji, Future groups among firms to receive nod for recast, but may ultimately not need it.
Becoming banks would give NBFCs access to low-cost deposits. But even after IL&FS crisis led to rising borrowing costs, no company applied for a bank licence.
Canada faces serious foreign interference issues, but these challenges must not be weaponized to unfairly target friendly and important allies like India.
In Episode 1544 of CutTheClutter, Editor-in-Chief Shekhar Gupta looks at some top economists pointing to the pitfalls of ‘currency nationalism’ with data from 1991 to 2004.
Among 19 Indian firms sanctioned by US Treasury Dept was Lokesh Machines Ltd accused of coordinating with 'Russian defence procurement agent to import Italy-origin CNC machines'.
While we talk much about our military, we don’t put our national wallet where our mouth is. Nobody is saying we should double our defence spending, but current declining trend must be reversed.
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