-The Hindu We need stricter adherence to sound banking rules and more transparency from public and private players The bank frauds involving Punjab National Bank (PNB) and the companies associated with businessmen Nirav Modi and Mehul Choksi as well as the Rotomac case couldn’t have come at a worse time. The Indian banking system is already reeling under the pressure of growing NPAs, or non-performing assets (less politely known as loans that...
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India Economic Survey 2018: Arvind Subramanian says economic revival underway; 4 key takeaways -Sushruth Sunder
-The Financial Express India Economic Survey 2018: Chief Economic Advisor Arvind Subramanian says that the Indian economy is showing robust signs of recovery and a series of major reforms undertaken over the past year will allow real GDP growth to reach 6.75 percent this fiscal and will rise to 7.0 to 7.5 percent in 2018-19. Addressing media in the press conference post release of the economic survey, CEA Arvind Subramanian noted...
More »Iron, steel cos' GNPA for PSBs in basic metals 24%: Govt
-PTI The Indian steel industry contributes approximately 2 per cent to the country's GDP New Delhi: Iron and steel sector accounts for about 24 per cent of total gross non-performing assets (GNPA) in basic metal and metal product category for public sector banks (PSBs), according to the Ministry of Steel. "The share of gross non-performing assets (GNPA) for iron and steel in basic metal and metal product category as on September 30, 2017...
More »Bank depositors' interests will be protected, assures PM
-The Hindu Business Line Blames UPA for NPA mess; says industry bodies should have been more vigilant New Delhi: Prime Minister Narendra Modi did not mince words when he addressed industry captains at the 90th Annual General Meeting of the Federation of Indian Chambers of Commerce and Industry here on Wednesday. In a speech that lasted slightly over 45 minutes, Modi put to rest all concerns pertaining to use of individuals deposits for...
More »The permanent debt trap of Gujarat -Rutam Vora
-The Hindu Business Line Farmers have been borrowing from banks to repay lenders and reversing the cycle Ahmedabad: In the Saurashtra region of Gujarat, a saying goes: “A farmer is always indebted. He is born in debt and dies with a debt. What matters is how he manages this debt in his life.” There is a skew in Gujarat’s water resource distribution. Saurashtra covers 31 per cent of the State’s landmass but gets...
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