The decision to transfer the surplus while maintaining the Contingency Risk Buffer at 5.50 per cent was taken at the meeting of the Central Board of Directors of RBI.
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.
According to the statement, the extent of respective shareholding to be divested by govt & LIC will be decided at the time of structuring of transaction in consultation with RBI.
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.
RBI Governor Shaktikanta Das says second Covid wave is not insurmountable, immediate priority is to protect lives and livelihoods, central bank will remain proactive.
The firms are the first to be penalised under India’s data-storage rules announced 2018, which ordered payment systems providers to store all data generated by them on servers in India.
India's projects related to BIMSTEC, Look-East-Act-East and Indian Ocean Rim Association could suffer a setback, impacting trade with South Asia and the South-South Cooperation agenda.
While global corporations setting up GCCs in India continue to express confidence in availability of skilled AI engineers, the panel argued that India’s real challenge lies elsewhere.
Without a Congress revival, there can be no challenge to the BJP pan-nationally. Modi’s party is growing, and almost entirely at the cost of the Congress.
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