Prompt policy measures helped to revive economy with minimal damage: FinMin
Stating that agricultural sector remains the foundation of the Indian economy, the ministry said that a normal monsoon, as has been forecast, should support the rebooting of the economy
View ArticleRBI's moratorium helps public sector banks post lower NPAs in Q4
On aggregate basis, gross NPAs of 8 PSBs improve by 132 bps
View ArticleOne-time loan recast for India Inc may come up at Friday's RBI board meet
The virtual meeting of the central board will be its first since the outbreak of Covid-19
View ArticleRBI board meets digitally to take stock of Covid-19 impact on economy
While there was an expectation that the board would also discuss one-time restructuring scheme for stressed assets of banks, it was not there in the agenda for the board meet
View ArticleRBI extends enhanced borrowing limit to banks under MSF till Sept 30
Banks may continue to access overnight funds under the MSF against their excess SLR holding
View ArticleCredit cards, Gold ETFs: How India spent and saved during Covid-19 lockdown
Despite the government's efforts to stem the economic fallout of the pandemic, the fall in income levels triggered a fall in consumption/spending
View ArticleCovid-19 pandemic may set back banks' recovery by years, says S&P
It also expects non-performing assets (NPAs) to hit a fresh high this year.
View ArticleCovid-19 crisis: Banking credit shrinks 1.7% in May as lockdown bites
According to Reserve Bank of India (RBI) data, gross bank credit was down to Rs 91.08 trillion in May, from Rs 92.63 trillion in March.
View ArticleGreen shoots of recovery? GST mop-up improves in June, crosses Rs 90,000 cr
However, the rate of decline has come down considerably to just 9.02 per cent from 38.17 per cent in May and 71.63 per cent in April
View ArticleDigital payments rebound in June after blip in April transactions
Overall transaction values reach pre-Covid levels
View ArticleE-way bill generation showing green shoots of economic recovery: GSTN
Network says June 30, the last day of Unlock 1.0, ended with generation of 1.83 million E-way bills worth over Rs 54,500 crore, which is the highest since lockdown was enforced
View ArticleFinMin may review capital requirement of PSU banks after second quarter
There is widespread fear that non-performing assets (NPAs) of the banks will witness a surge due to the economic slowdown triggered by the Covid-19 outbreak and resultant lockdowns
View ArticleBorrowers opting out of loan moratorium with unlocking of economy: Bankers
According to Punjab National Bank Managing Director S S Mallikarjuna Rao, only 30 per cent of borrowers utilised moratorium facility while 70 per cent continued to service their loans.
View ArticleCovid-19 crisis: Budget blowout may see RBI resort to direct financing
The government is facing a Budget deficit of as high as 7 per cent of gross domestic product, the widest in more than two decades, according to some estimates.
View ArticleGovt plans to raise Rs 20,000 crore by selling stakes in CIL, IDBI Bank
In case of Coal India, if valuations are not attractive, company will buy back shares from the govt
View ArticleStressed NBFCs, HFCs seek Rs 10k-cr support under special liquidity scheme
The scheme was launched on July 1
View ArticleCovid-19 impact: Govt writes to states on additional 2% borrowing of GSDP
Further, public and private sector banks have together sanctioned loans worth over Rs 1.20 trillion, while the disbursal amount stood at Rs 61,987 crore
View ArticlePM takes stock of financial sector, reviews progress of Rs 20 trn package
As part of this exercise, sources said, he had a meeting on the financial sector of the economy which is an important pillar in reviving growth and demand
View ArticleCovid-19 exposes Asian banks' vulnerability to US dollar funding: ADB
US dollar-denominated lending has increased across banks in high-income Asian economies, notes ADB briefing paper
View ArticleGovt, RBI and 15th Finance Commission discuss bank recapitalisation
The banking sector needs to open up to the same levels of 'liberalisation process' which other sectors have witnessed, N K Singh said
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