-Press released by All India Kisan Sangharsh Coordination Committee (AIKSCC) dated 1st February, 2020 Delhi, February 1st 2020: Budget fails to increase rural demand and purchasing power which would have boosted the economy - instead, the Budget only boosts the profits of big corporates and MNCs, said AIKSCC. When the crying need in India’s economy is to increase the demand and purchasing power in rural areas, and hence rural incomes, the...
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SBI under-reported Rs.11,932 crore of bad loans in FY19, finds RBI report
-The Hindu SBI reports Rs.11,932 crore NPA divergence in FY19 The Reserve Bank of India's (RBI’s) inspection report has found out that State Bank of India (SBI) under-reported Rs.11,932 crore of bad loans in FY19, which has pushed the bank to report net loss for the financial year 2018-19. The divergence in net non-performing asset (NPA) was also Rs.11,932 crore, the bank informed the exchanges. According to the RBI, provision requirement for SBI increased...
More »Nearly 70% of education loans goes to general category students -Pon Vasanth BA
-The Hindu MHRD data also indicates variation in size of loans disbursed, with OBCs, SCs and STs receiving lower amounts on average Around 70% of the education loans disbursed in the country appear to be going to upper caste students, data on a government-funded surety scheme for educational loans furnished by Ministry of Human Resource Development (MHRD) in the Lok Sabha has indicated. The data provided was on the Credit Guarantee Fund Scheme...
More »Bad loans under Mudra Kishore jump 107% in six months -Shyamlal Yadav
-The Indian Express 12 PSU banks data reveal smallest ticket size Shishu loans fare best. New Delhi: THE number and value of bad loan accounts in the Kishore category of the Pradhan Mantri Mudra Yojana (PMMY) for a dozen public sector banks including State Bank of India, Canara Bank and Bank of Baroda, have jumped 107 per cent and 71 per cent, respectively, as on September 30, 2019 compared with March...
More »Give farmers their due credit -Ashok Gulati & Ritika Juneja
-The Indian Express All crop loans should be routed through Kisan Credit Cards. This will ensure that farmers do not use the loans for non-agricultural purposes. Normally, a sector’s credit off-take is a sign of its health. Higher the off-take, the better the sector’s performance. There has been a healthy off-take of ground-level credit (GLC) in agriculture and allied sectors. In the financial year (FY) 2018-19, banks disbursed Rs 12.55 trillion...
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