-Scroll.in The RBI had first flagged serious lapses in the bank’s governance in 2018. The Centre invested Rs 250 crore with private lender Yes Bank in the financial year 2019-’20 even though the Reserve Bank of India had deemed the bank as risky in 2018, shows the financial statement of the Prime Minister’s National Relief Fund. The investment in Yes Bank Fixed Deposit Receipts was made even as Finance Minister Nirmala Sitharaman last...
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A flawed calculation of inflation -Arun Kumar
-The Hindu The current official inflation rate does not correctly measure price rise Inflation for the last four months has been worryingly high — wholesale price index (WPI) has been above 10% and consumer price index (CPI) crossed the 6% mark in June, which was above the Reserve Bank of India (RBI)’s tolerance band. This is happening at a time when demand has been down, unemployment has been high, many have lost...
More »Telangana 4th largest contributor to India’s economy -VV Balakrishna
-The New Indian Express Tamil Nadu (Rs 15,44,935 cr), Karnataka (Rs 13,40,350 cr), West Bengal (Rs 11,04,866 cr) are ahead of Telangana in that order. HYDERABAD: Telangana is the fourth largest contributor to the country’s economy. According to the “Handbook of Statistics on the Indian Economy 2020-21” released by the Reserve Bank of India (RBI) on Wednesday, the Net State Value Added (NSVA) by the State at current prices to the country...
More »RBI proposal to loosen lending norms for private players a catastrophe in the making -Rana Mitra
-Frontline.thehindu.com The RBI’s proposal to loosen regulations for private lenders in the microfinance space will have disastrous consequences for the poor, especially women in rural areas. Microfinance, a category of financial services aimed at serving people from low-income households who lack access to conventional banking credit and services, was originally designed by international finance capital institutions such as the World Bank as an alternative to providing direct concessional credit to the poor—which...
More »India Inc. not sanguine about growth
-The Hindu Heads of industry do not share the optimism of the government and RBI, shows CII poll of CEOs. Indian industry does not seem to share the government and the Reserve Bank of India’s optimism about this year’s growth prospects, according to a poll of CEOs conducted by the Confederation of Indian Industry (CII). Nearly two-thirds of CEOs of large corporates polled by CII at its national council meeting earlier this month...
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