-The Times of India MUMBAI: Data collected by Reserve Bank of India over a period of one year blows the lid off what goes as loan classification in Banks. In a presentation at the annual bankers' conference, RBI deputy governor K C Chakrabarty showed how Banks have sacrificed over Rs 1 lakh crore by writing off bad loans to corporates, which is much higher than Union finance minister P Chidambaram's farm...
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Clarity on loan waivers
-The Asian Age Reserve Bank deputy governor K.C. Chakraborty has finally set the record straight on what is well known in left-wing development circles: that Corporate India's loans waived by Banks are more (over Rs. 1 lakh crore in the past 13 years) than farm loans to the tune of Rs. 60,000 crores written off under the Debt Waiver and Debt Relief Scheme. More revealing is that medium and large units have...
More »Women’s bank learns from elder sibling in Maharashtra -Surabhi
-The Indian Express For the Bharatiya Mahila Bank, the country's first pan-India national women's bank, it is a humble rural cooperative women's venture in Maharashtra that has provided the critical input to succeed: How to lend to women who do not have collateral to back their loans. Chetna V Sinha, founder and chairperson of Mann Deshi Mahila Sahakari Bank, explained that this is the prime weakness in giving loans to women. The...
More »Inflation eroding savings of Indians living in metros: Survey
-PTI Soaring inflation, high fuel cost, rising cost of education and health insurance premiums have eroded the real incomes of middle-class Indian families, with household savings rates dropping by a staggering 40 per cent in the last three years, says an Assocham survey. "Poor households are unable to maintain the consumption levels at current prices while middle income families find their purchasing power erode fast, thus having far less surplus money," Assocham...
More »Sheila Dikshit's assets up 40% in five years
-IANS New Delhi: The value of assets owned by Delhi Chief Minister Sheila Dikshit grew over 40% in the last five years, up to Rs18 million, according to an affidavit submitted by her Thursday. The three-time chief minister filed her nomination from New Delhi constituency for the Dec 4 assembly election. According to the affidavit, the value of her moveable and immovable assets increased from Rs. 13 million in 2008 to Rs. 18.3...
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