-The Hindu Business Line RBI Deputy Governor says such loans support economic activity, generate income & surplus Mumbai: Given the overexposure of the banking system to large corporates and the consequences thereof in the last few years, Reserve Bank of India Deputy Governor SS Mundra said lending to priority sector is good business for all the right and justifiable reasons. “The excessive lending to corporate sector was the outcome of what I call...
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Declining bank credit indicates poor economic performance
Apart from gross domestic product (GDP) and gross value added (GVA), another indicator which shows whether an economy is thriving or stagnating is the growth in bank credit. Credit is a critical input in the production of goods and services. It is generally the case that during prosperous times, economic actors, who are engaged in different sectors or in various industry, take up bank loans to invest. The provisional data...
More »Budget 2017: High on rhetoric, low on delivery -Himanshu
-Livemint.com While there have been some positives, including the reforms on political funding, the real test of the budget was the ability to manage spending to revive the economy This was the fourth budget of the National Democratic Alliance (NDA) government. Coming at a time when the world around is full of uncertainties, more was expected from the budget than what has been delivered. The domestic uncertainty is certainly the outcome of demonetisation....
More »Reward the cash-hit, says Sangh's labour arm
-PTI Pune: The Rashtriya Swayamsevak Sangh's labour arm has asked the Narendra Modi government to take note of the "immediate adverse side effects" of demonetisation while welcoming what it called a "rare" opportunity to help those less privileged. The Bharatiya Mazdoor Sangh also cautioned the government against pressuring people to go digital. "We take serious note of the immediate adverse side effects like defects in implementation, cash shortage, slowdown in market, job losses,...
More »Demonetisation: 35 per cent job losses, 50 per cent revenue dip, says study by largest organisation of manufacturers -Arun Janardhanan
-The Indian Express The study, conducted by AIMO, has also projected a drop in employment of 60 per cent and loss in revenue of 55 per cent before March 2017. Chennai: IN THE first 34 days since demonetisation, micro-small scale industries suffered 35 per cent jobs losses and a 50 per cent dip in revenue, according to a study conducted by India’s largest organisation of manufacturers. The study, conducted by the All...
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