-Livemint.com * Central and state taxes make up for 60% of the retail selling price of petrol and over 54% of diesel * On 20 February, petrol price was hiked by record 39 paise per litre and diesel by 37 paise a litre Reserve Bank of India governor Shaktikanta Das called for reduced indirect taxes on petrol and diesel to contain the fuel prices at a reasonable level. Petrol and diesel prices in...
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One nation one ombudsman: RBI to integrate consumer grievance redressal scheme
-PTI/ The Hindu The RBI is targeting to roll out the e-Integrated Ombudsman Scheme in June 2021 The Reserve Bank on Friday announced it will be integrating consumer grievances redressal under a single ombudsman as against three schemes working at present. There are dedicated ombudsman schemes devoted to consumer grievance redressal in banking, non-bank finance companies and digital transactions, respectively, at present. “To make the alternate dispute redress mechanism simpler and more responsive to...
More »Explained: Balance sheet of a bad bank -Sunny Verma and George Mathew
-The Indian Express As the problem of non-performing assets persists in a sector stressed by the pandemic, the RBI Governor has agreed to look at a proposal for creating a bad bank. What are the arguments for and against the concept? Mumbai, New Delhi: The idea of setting up a bad bank to resolve the growing problem of non-performing assets (NPAs), or loans on which borrowers have defaulted, is back on the...
More »RBI upgrades GDP forecast, expects economy to shrink 7.5% this fiscal
-Livemint.com The economy is recuperating faster than anticipated, the RBI chief said The Reserve Bank expects GDP to contract 7.5% this fiscal, said central bank chief Shaktikanta Das while announcing monetary policy committee decision to keep interest rate unchanged. This is an upgrade from the central bank's earlier forecast of 9.5% contraction in its October review. The economy is recuperating faster than anticipated, the RBI chief said, adding that the recovery in...
More »RBI may not extend moratorium on repayment of loans beyond Aug 31: Report
-Business Standard The six-month moratorium period comes to an end on August 31 The Reserve Bank is unlikely to extend the moratorium on repayment of bank loans beyond August 31 as an extension could impact the credit behaviour of borrowers without resolving the issues being faced by them following the outbreak of the Covid-19, sources said. The RBI had announced a moratorium on repayment of debt for six months beginning March 1, 2020...
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