-PTI New Delhi: State governments need to capitalise their credit institutions to get access to long-term finance and have better control over their credit flow, a NITI Aayog official said. The states have no control over the long-term finance right now, but nobody is stopping them from recapitalising finance corporations which will allow them to on-lend at attractive rates to entrepreneurs, NITI Aayog Special Secretary Yaduvendra Mathur said. “States can’t just wait that...
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RSS' labour wing opposes bank merger, says govt hasn't learnt from earlier mistakes -Ramesh Babu
-Hindustan Times The Bharatiya Mazdoor Sangh (BMS) said it will support the agitation being planned by United Front of Banking Unions against the government’s decision to merge ten banks. Thiruvananthapuram: The Bharatiya Mazdoor Sangh (BMS), labour wing of the RSS on Saturday criticised the bank merger plan announced by Union Finance Minister Nirmala Sitharaman saying it was done without any study and it will only protect interests of corporate houses. “No serious...
More »Sentiments do have real economic benefits -Renu Kohli
-The Telegraph Investors may be buying stocks again, but fundamental drivers such as expected corporate performance remain unchanged Sentiments matter for economic growth. Optimistic or upbeat sentiments encourage consumers to buy and borrow; businesses, on the other hand, are spurred to plan and invest. But when in reverse gear, downbeat or negative sentiments can hold back spending, restricting activities and stifling growth. For an economy seeking to revive itself, be it India...
More »Rs 71,500 crore worth of bank frauds detected in FY19: RBI report -Ashwin Manikandan
-The Economic Times Indian Banking system detected Rs 71,500 crore worth of frauds in financial year 2018-19, the RBI report said. Indian Banking system detected Rs 71,500 crore worth of frauds in financial year 2018-19 which to put in scale is slightly more than the Rs 71,000 crore recapitalisation package planned by the government to revive the health of its public-sector banks. Interestingly, over 90 percent of these losses were to the government...
More »Fake 500 rupee notes up 121% in 2018-19, says RBI
-PTI * Counterfeiting of the newly-designed ?2,000 notes shot by 21.9% in 2018-19 in comparison to the previous year, the RBI said * RBI said that counterfeit notes detected in the denomination of ?100 declined by 7.5% New Delhi: Counterfeiting of the newly-designed Rs.500 notes shot up by 121 per cent and of the Rs.2,000 notes by 21.9 per cent in 2018-19 in comparison to the previous year, the RBI said on Thursday. Of...
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