Are public sector banks (PSBs) important for the economy? Have the PSBs served the purpose for which they were created? Could the PSBs compete efficiently against the private sector banks (PVBs)? These are some of the questions, which have been answered by a chapter in the RBI Bulletin's August edition. Efficiency of PSBs Co-authored by Snehal S Herwadkar, Sonali Goel, and Rishuka Bansal (2022) of the Banking Research Division, Reserve Bank of...
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Are Loan Waivers Not 'Freebies' to Corporates, Asks DMK In Application Before SC
-TheWire.in In an application seeking to implead itself in the 'freebies' petition, the party said in its first three years, the Narendra Modi government wrote off loans worth Rs 72,000 crore of the Adani Group. New Delhi: The Dravida Munnetra Kazhagam (DMK), the ruling party of Tamil Nadu, said the petition on “freebies” is politically motivated and asked if the BJP-led Union government’s move to waive off loans of companies is not...
More »Over 11,000 crop residue management machines go missing in Punjab; vigilance probe ordered
-PTI/ The Hindu Punjab’s Agriculture Minister Kuldeep Singh Dhaliwal said according to initial investigation by the agriculture department, it appears that a sum of ₹125-150 crore has been misused The Punjab government has said it has initiated a vigilance probe into a ₹150-crore scam in the distribution of crop residue management machines among farmers during the previous dispensation led by the Congress. State Agriculture Minister Kuldeep Singh Dhaliwal, in a statement on Wednesday,...
More »India’s ‘salaried class’ shrank during Covid, Muslims hit hardest, govt data suggests -Nikhil Rampal
-ThePrint.in India’s salaried class shrank by 2.7 percentage points during pandemic, govt’s Periodic Labour Force Survey (PLFS) shows. But data for religious minorities, women is even bleaker. New Delhi: There’s much to lament in India’s post-Covid job market, where recovery has been painfully slow. However, government data suggests that when it comes to the salaried sector, the participation of religious minorities — Muslims, Sikhs, and Christians, in that order — has been...
More »Patra: India can sustain CAD of 2.5-3% without an external sector crisis
-The Telegraph Overall current account deficit in July rises to $21.04 billion (merchandise and services), commerce ministry reports on Friday Mumbai: Reserve Bank of India deputy governor Michael Patra has tried to soothe concerns about the anticipated surge in India’s current account deficit, suggesting that the country will not be roiled by a crisis if the CAD climbed to anywhere between 2.5 and 3 per cent of GDP. “Our experience has been that...
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