-The Hindu Business Line MSMEs are using funds from the Emergency Credit Line Guarantee Scheme more to pay off earlier loans than as growth capital The Emergency Credit Line Guarantee Scheme (ECLGS) was one of the highlights of the economic package announced by the government in May, and it became operational on May 23. The scheme is basically a loan guarantee for all MSMEs which were operational as on February 29 with...
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Akshaya Patra governance under lens as 4 high-profile trustees quit in 2020, NGO denies link -Rohini Swamy
-ThePrint.in 4 trustees are ex-Infosys chief financial officers Mohandas Pai and V. Balakrishnan, ChrysCapital co-founder Raj Kondur, and Abhay Jain, adviser to Manipal Education & Medical Group. Bengaluru: NGO Akshaya Patra Foundation (APF) has seen four high-profile trustees resign since February — three within the last month — amid speculation of misgivings within the organisation over governance issues. The four trustees are former Infosys chief financial officers Mohandas Pai and V. Balakrishnan, ChrysCapital...
More »Has personal loans seen a rebound ahead of the festive season? The answer is in the negative
Just before Dhanteras and Diwali this year, the Reserve Bank of India (RBI) released the November edition of its monthly bulletin. The latest RBI Monthly Bulletin says that the GDP has contracted by -8.6 percent in the second quarter of fiscal year 2020-21 (i.e. July-September, 2020) as compared to the gross domestic product (GDP) during the corresponding period last year. It may be noted that India’s GDP shrunk by -23.9...
More »Supreme Court’s Selective Approach Will Not Prevent the 'Path of Destruction' -Fahad Hasin
-TheWire.in The Supreme Court order on Arnab Goswami does nothing if the same concern is not extended in the case of hundreds of citizens who have been jailed under various politically motivated cases. The Supreme Court’s decision to grant interim bail to Republic TV’s Arnab Goswami has led to sharp reactions. Among people who identify themselves as liberals, there are three broad strands of thinking. FIRst, there are those who feel that...
More »The Hindu Explains: What is technical recession, and what does it mean for the Indian economy? -Suresh Seshadri
-The Hindu * What has the RBI cautioned about GDP decline amid the pandemic, and what lies ahead? The story so far: The Reserve Bank of India’s (RBI) latest monthly bulletin features an article by an official at its Monetary Policy Department titled ‘An Economic Activity Index for India’, where the author has, in a ‘nowcast’ (a forecast that estimates the outcome of a near-term event), projected that India’s GDP (Gross Domestic...
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