-Behanbox.com New Delhi: Usha Sahu, 45, a Mitanin trainer from Bemetara district in central Chhattisgarh was in for a shock when she checked her bank account in October. The bank had deducted Rs 2000 from the 4,000 rupees that she received as a special incentive for the Covid-19 duties for the months of April to September, 2021. “When the other Mitanins in the block started complaining about the deduction, I checked my...
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Banks' NPAs kept rising in the past due to lack of transparency: PM Modi
-Livemint.com PM Modi said due to the lack of transparency in the country's banking sector earlier, various practices used to take place Audit Diwas: Prime Minister Narendra Modi on Tuesday said that banks' NPAs kept increasing in the past due lack of a lack of transparency in the banking sector. He said due to the lack of transparency in the country's banking sector earlier, various practices used to take place. “As a...
More »RBI imposes severe restrictions on this bank, imposes Rs 1,000 cap on withdrawals — check details
-PTI/ Financial Express As per the directions, the bank shall not, without the prior approval of the RBI, grant or renew any loans and advances, make any investment, incur any liability, and disburse or agree to disburse any payment. The Reserve Bank of India (RBI) on Friday imposed several restrictions on Laxmi Cooperative Bank Ltd, Solapur, including a Rs 1,000 cap on withdrawals for customers, due to deterioration in its financial position. The...
More »Don't believe everything they tell you about breakneck formalization -Pramit Bhattacharya
-Livemint.com There is good reason to doubt the reported decline in the informal sector’s share of Indian GDP A State Bank of India (SBI) report that grabbed headlines recently suggests that India’s informal sector has shrunk dramatically in recent years. Given that the claim comes from the economic research team of a major state-owned financial institution, it deserves scrutiny. The SBI report examines the likely loss of output or gross domestic product (GDP)...
More »The State that failed -MG Devasahayam
-The Telegraph As the most inequitable country in the world after Russia, today's India is indicative of this fact The Union ministry of women and child development protested against the downgrading of India from 94 to 101 on the Global Hunger Index, 2021. According to the ministry, the proportion of undernourished population given in the report is “devoid of ground reality and facts, and suffers from serious methodological issues”. The ministry is protesting...
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