An underestimated growth projection could give Modi govt more spending room, while initiatives to improve NPA recovery could prove crucial for India's financial sector.
RBI had earlier allowed lending institutions to grant a moratorium on payment of loan instalments falling due between 1 March 1 to 3 May, later it was extended till 31 August.
Supreme Court gives Modi govt over 2 more weeks to decide on waiver of interest for moratorium period after considering interest of all classes of creditors & all sectors of economy.
RBI has accepted bankers’ demand for one-time loan restructuring instead of extending the moratorium as a way of countering the impact of the Covid-19 pandemic.
In an address to the CII, Das stressed the need for alternative sources of infra financing, and pushed for early completion of FTAs with US, UK and EU.
In a blog, ex-finance secretary Subhash Chandra Garg said 80% of bank lending was to non-essential sectors that have completely stopped functioning in the lockdown.
In Bad Money, Vivek Kaul writes how public sector banks refrained from recognising bad loans because that meant setting aside money to meet these losses.
Bringing back the Financial Resolution and Deposit Insurance Bill could be a very important reform in laying the foundations of a stronger financial system.
Research paper, however, finds lowest indebtedness level among Muslims at 12.3% & highest among Hindus at 14.9%. Overall national financial inclusion level at 87.2%, indebtedness at 14.7%.
Fresh details of operation conducted by IAF, Army have come out in gazette notification giving citations of those who were awarded Vir Chakra for their bravery.
On 21 Oct, a buzz went up that the govt had released full list of gallantry award recipients along with Op Sindoor citations. I put an AI caddy on the job. It took me into a never-ending rabbit hole.
Indians have been waiting for ache din since 2014. Minimum government, maximum governance. 5 trillion economy. A tomorrow that never arrives. You can count on Indians to forget yesterday’s dream and move to the next.
Indians have been waiting for ache din since 2014. Minimum government, maximum governance. 5 trillion economy. A tomorrow that never arrives. You can count on Indians to forget yesterday’s dream and move to the next.