-The Indian Express CVC report analyses 100 major frauds on public sector banks, committed by borrowers from 13 sectors. Among them, an aviation firm that got loans based on its brand name in spite of a poor credit rating; and jewellers who allegedly inflated value of diamonds and submitted fake details on debtors. New Delhi: The Central Vigilance Commission (CVC) recently came out with a report that analyses the top 100 bank...
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How Govt Milking of Cash Cow LIC is Endangering India's Most Trusted Life Insurer -Praneta Jha
-Newsclick.inGovt is repeatedly turning to LIC for its disinvestment agenda. The insurer's NPAs have doubled since the Modi regime took over, and now there is the possibility of it bailing out debt-ridden IL&FS. Since 2014, the Life Insurance Corporation of India (LIC) has spent, at least, Rs 48,000 crore so that the Narendra Modi government can meet its disinvestment targets.Meanwhile, the non-performing assets (NPAs) of the country?s largest insurer have...
More »Total government liabilities rise to Rs 79.8 lakh crore in Q1: Finance Ministry report
-PTI NEW DELHI: Total liabilities of the government increased to Rs 79.8 lakh crore at end-June 2018 from Rs 77.98 lakh crore at end-March 2018, latest data on Public Debt showed Friday. Public Debt accounted for 89.3 per cent of total outstanding liabilities at end-June 2018 with internal debt accounting for 83.0 per cent share. Nearly 24.9 per cent of the outstanding dated securities had a residual maturity of less than five years....
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 »How Mallya & Modi could teach debt-ridden Vidarbha farmers to stay cool -Jaideep Hardikar
-The Indian Express Two loan defaults lead to two different outcomes, year upon year, a nightmare version of déjà vu. The former exits the country; the latter exits the mortal world. Liquor baron Vijay Mallya and diamond jeweler Nirav Modi could jointly run a crash course for the debt-ridden and beleaguered farmers of Vidarbha, nay the entire country: How to stay cool with unpaid debts. Mallya could tell the peasantry, for instance, how...
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