-The Indian Express Saying that the stand taken by the PMO will not serve any public interest, Acharyulu said, "If the RBI does not respect the SC orders and denies the citizens right to information, it will result in the perpetuation of a financial regime of secrecy." With the Reserve Bank of India’s board meeting set to be held Monday, the Central Information Commission (CIC) has once again directed the Prime Minister’s...
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CIC issues show-cause notice to RBI governor for non-disclosure of wilful defaulter's list
-PTI “The Commission feels that there is no match between what RBI Governor and Deputy Governor say" The Central Information Commission (CIC) has issued a show-cause notice to RBI Governor Urjit Patel for “dishonouring” a Supreme Court judgment on disclosure of wilful defaulters’ list. The CIC has also asked the Prime Minister’s Office, the Finance Ministry and the Reserve Bank of India (RBI) to make public the letter of former RBI governor Raghuram...
More »RBI: Loan Defaults by small businesses double in a year -George Mathew
-The Indian Express RBI said that the bulk of Loan Defaults, which rose from March 2017, is accounted by public sector banks which had a share of 65.32 per cent in outstanding loans to small units, down from 66.61 per cent in the previous year. Mumbai: MICRO AND small businesses continue to struggle in the wake of demonetisation and implementation of the Goods and Services Tax (GST), with the latest RBI figures...
More »Monthly income per farm household grew between NSSO & NABARD surveys, but so has the level of outstanding loans
A recent report by the National Bank for Agriculture and Rural Development (NABARD) enlightens one about the state of farmers' income and indebtedness in 2015-16. Entitled NABARD All India Rural Financial Inclusion Survey 2016-17 – in short NAFIS 2016-17 – the report says that between 2012-13 and 2015-16 the average monthly income for agricultural households grew by around 39 percent. One may recall that the Key Indicators of Situation Assessment Survey...
More »Banks take about Rs. 70,000-cr. hit due to frauds in last 3 years
-PTI ‘Impact in 2017-18 at ?36,694 cr. more than twice seen in previous 2 years, each’ Indian banks reported a total loss of about ?70,000 crore due to frauds during the last three fiscals up to March 2018, the Rajya Sabha was informed on Tuesday. The extent of loss in fraud cases reported by scheduled commercial banks (SCBs) for 2015-16, 2016-17 and 2017-18 was ?16,409 crore, ?16,652 crore and ?36,694 crore, respectively, Minister...
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