-Livemint.com RBI’s regulatory powers over PSU banks are weaker than those over the private sector banks, says Urjit Patel, putting the onus of tackling bank frauds such as the one at PNB on the finance ministry Mumbai: Reserve Bank of India (RBI) governor Urjit Patel broke his silence on Wednesday on the PNB fraud, putting up a blistering defence for the regulator and sought to put the onus on the finance ministry...
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Maharashtra: Nearly 25,000 farmers march from Nashik to Mumbai to demand loan waiver
-Scroll.in Led by the All India Kisan Sabha, the protestors are planning to protest at the Maharashtra Vidhan Sabha on Monday. Thousands of farmers in Maharashtra are marching from Nashik to Mumbai, demanding a complete waiver of loans and electricity bills, NDTV reported on Thursday. They are also demanding the implementation of the Swaminathan Commission’s recommendations on providing minimum support prices and safeguarding the interests of small farmers. “We want the state...
More »Economists Hit Out Against Move to Privatise Public Sector Banks
-TheCitizen.in Banking needs reforms not privatisation NEW DELHI: The scale of the recent bank scams and the potential losses faced by banks holding non-performing loans given to some large companies and individuals, has shocked all of us. However, we are concerned to note that this has become an excuse to demand the privatisation of publicly held banks. While it is true that the current scam involves Punjab National Bank, the second largest public sector...
More »Nagri residents want Government to nix DBT for food subsidy
-The Pioneer Ranchi: A large number of ration card holders from Nagri and activists of Right to Food Campaign, led by noted socio-economist Jean Drèze on Monday marched to Raj Bhawan demanding immediate withdrawal of ‘Direct Benefit Transfer (DBT) for Food subsidy’ and restore the old system of providing rice at Re 1 per kg to the poor people at ration shops. Drèze, who was stopped at Raj Bhawan by the district...
More »Can banking recover? -Jayati Ghosh
-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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