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?
As the era of easy money ends, the gap between the ability to borrow and the credibility to do so will define fiscal resilience. India still has the chance to strengthen both.
Open to public feedback until 26 November, the revised guidelines, among other changes, give CA firms more flexibility to advertise & promote their services.
Bihar is blessed with a land more fertile for revolutions than any in India. Why has it fallen so far behind then? Constant obsession with politics is at the root of its destruction.
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 …