-The Asian Age The source further said DICGC has proposed to hike Deposit Insurance to Rs 3 lakh from Rs 1 lakh, depending upon the demands of circumstances. New Delhi: With several financial institutions in the country standing on the edge of distress, the Central government is likely to increase insurance cover for bank deposits. Currently, only Rs 1 lakh deposit of each customer is issured. The Finance Ministry is also mulling to...

-The Hindu The agenda to set up a development bank is a welcome initiative, but questions remain on its design Finance Minister Nirmala Sitharaman’s press conference on August 23, announcing a slew of measures to boost the economy and financial market sentiments, had an interesting idea. It was about setting up a development bank. Ms. Sitharaman said: “In order to improve access to long-term finance, it is proposed to establish an organisation to...

-The Hindu With a strength of over 83,000, it procures 3.5 lakh litres of milk a day Tirupati: Before Shreeja entered her life, middle-aged Gangamma of Palamaner mandal in Andhra Pradesh’s Chittoor district had to be content with the daily drudgery of maintaining her barn and selling the milk from her cows to a private supplier. And that came with the attendant problems of first realising payments from the buyer, and once...

-Financial Express Farm loan waivers—of more than Rs 850 billion in FY18 and FY19, announced by various state governments—are the flavour of the season. This can affect credit offtake and induce further stress for banks and amount to another agrarian crisis. Farm sector NPAs accounted for 16% of banks’ advances under the priority sector lending in October 2018. Post the early waiver-announcements, credit growth in agriculture and allied activities has been...

-Livemint.com While farmers will receive a 12% penal interest payment for delays in settling claims, state governments will be penalised if they delay in depositing their share of subsidies New Delhi: Faced with a sharp decline in the number of farmers signing up for its flagship crop insurance scheme, the centre on Tuesday imposed a 12% penalty on insurance companies for delayed settlement of claims. Under the new guidelines that will take effect...