Failure to slash stressed assets, cash crunch in NBFCs, delays in bankruptcy process are adding to challenges faced by banks as they tidy up balance sheets.
Cash squeeze threatens broader fallout, as higher cost of funds is passed on to merchants getting micro loans & property tycoons looking to roll over debt.
Reasons for the squeeze range from farm spending to looming elections, but its roots lie in Modi’s 2016 decision to overnight void 86 percent of currency in circulation?
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.
From dat one, literally, there has been an obsession with black money. The SIT for black money was set up as possibly the first executive action. How many trillions it has recovered remains a state secret. However, the repeated answers given to Parliament that the government does not know the quantum of black money suggests the SIT does not even know the terrain where it is supposed to be hunting. Then came Demonetisation, which has broken the vertebrae of the economy. So it is not just about paper reforms like the IBC. It is delusional to believe the economy has crossed the hump for NPAs.
Disaster all around. The economy, human rights, Kashmir, job losses, auto industry, – courtesy the ego of one man.
From dat one, literally, there has been an obsession with black money. The SIT for black money was set up as possibly the first executive action. How many trillions it has recovered remains a state secret. However, the repeated answers given to Parliament that the government does not know the quantum of black money suggests the SIT does not even know the terrain where it is supposed to be hunting. Then came Demonetisation, which has broken the vertebrae of the economy. So it is not just about paper reforms like the IBC. It is delusional to believe the economy has crossed the hump for NPAs.
… day one …