Are public sector banks (PSBs) important for the economy? Have the PSBs served the purpose for which they were created? Could the PSBs compete efficiently against the private sector banks (PVBs)? These are some of the questions, which have been answered by a chapter in the RBI Bulletin's August edition. Efficiency of PSBs Co-authored by Snehal S Herwadkar, Sonali Goel, and Rishuka Bansal (2022) of the Banking Research Division, Reserve Bank of...
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Rupee Co-operative Bank’s collapse leaves many depositors in distress -Siddhi Nayak
-Moneycontrol.com Rupee Co-operative Bank's depositors are dealing with financial hardships and navigating family emergencies as they struggle to access their own money In the 1990s, Virendra Kumar Joping’s father, a small-time carpenter, came to Pune from Rajasthan to earn a living. Over the years, he saved his hard-earned money by opening a fixed deposit in Rupee Co-operative Bank. Rupee Co-operative Bank was among the trusted names in Pune. Little did the Joping family...
More »Bicycles left behind by migrant workers during Covid lockdown auctioned for ₹21 lakh -S Raju
-Hindustan Times During the Covid pandemic-induced lockdown in early 2020, nearly 25,000 migrant workers reached Saharanpur on bicycles while heading back to their native places in Uttar Pradesh and Bihar from their places of work in Haryana, Punjab, Uttarakhand and Himachal Pradesh. Meerut: The Saharanpur district administration has auctioned 5,400 bicycles left behind by migrant workers from Uttar Pradesh and Bihar while rushing home during the nationwide lockdown in the wake of...
More »NREGA Sangharsh Morcha demands a hike in MGNREGA Budget for FY 2022-23
-Press release by NREGA Sangharsh Morcha dated 30 January, 2022 The stress on the economy became evident, especially in the aftermath of the raging pandemic from the 7.3% contraction in GDP in 2020-21. The distress faced by poorer households has continued over a period of time with the pandemic acting as a catalyst in increasing the woes of such households. In a latest round of survey conducted by People’s Research on...
More »Five years since demonetisation: What has changed? -Roshan Kishore
-Hindustan Times While demonetisation was subsequently described as a policy boost to promoting digital payments, the original policy had very different stated targets. November 8, 2021 marks five years of demonetisation in India. On this day in 2016, in a televised address at 8 pm, Prime Minister Narendra Modi declared that currency notes of ₹500 and ₹1000 -- these two denominations were 86% of the currency in circulation at the time in...
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