-TheWire.in Eighty per cent or more of the demand in the economy has vanished thanks to the lockdown he hastily announced, with no warning or preparation. The only way out is to pump money in to revive demand. In a discussion on NDTV about the contents of the third tranche of Prime Minister Narendra Modi’s stimulus package for the economy, Yogendra Yadav, one of India’s most respected psephologists, called it ‘entertainment’. Yadav...
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Most small farmers outside formal credit system. Sitharaman’s announcements won’t help them -Shoumitro Chatterjee and Mekhala Krishnamurthy
-ThePrint.in An RBI report says that despite numerous existing initiatives, at most 40 per cent of India’s small and marginal farmers are covered by formal credit. There is no doubt that agricultural credit is a critical element of both agricultural production and marketing across India. However, during a period of acute crisis, the government needs to bank on channels that are relatively robust and far-reaching. Unfortunately, especially when it comes to small...
More »Demand first, please, and then loans -Devadeep Purohit
-The Telegraph 'Wish there were announcements on government spending' Kolkata: Like many Indians, a young businessman keenly awaiting the fine print of Prime Minister Narendra Modi’s Atmanirbhar Bharat Abhiyan (Self-reliant India Mission) placed himself before a television screen around 4pm on Wednesday. The businessman did not have to brush up his language skills to understand finance minister Nirmala Sitharaman but he came away with a sense of déjà vu. “I heard that I will...
More »Mehul Choksi Tops RBI List Of Defaulters Who Owe Nearly Rs 70,000 Crore -Divyanshu Dutta Roy
-NDTV/ PTI In response to a RTI query, the RBI released the names of top 50 with the highest amount of loans written off New Delhi: Business tycoons Mehul Choksi, the Jhunjhunwala brothers, and Vijay Mallya are among the prominent individuals linked to companies named by the Reserve Bank of India (RBI) in a list of the top 50 wilful defaulters accused of scamming the country's banks. In a Right to Information or...
More »Finance Minister stipulates time frame for banks to disburse loans; move comes as lenders turning risk averse -Manojit Saha
-The Hindu In a communication to State-run banks, the government said the move is aimed at ensuring credit flow for economic activities and the guidelines come into effect from Monday when the business activities resume. Mumbai: As business activities resumed on Monday after a nationwide lockdown, the Finance Ministry has swung into action to ensure credit flow to companies and prescribed a specific time frame for banks within which a loan needs...
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