-The Hindu 5% estimate in line with RBI forecast. The government expects the country’s gross domestic product (GDP) to grow at a slower pace of 5% for the full year 2019-20, as compared to 6.8% in the previous year, according to the first advance estimates released by the Statistics Ministry on Tuesday. This estimate is in line with projections made by the Reserve Bank of India, which had revised GDP growth downwards to...
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How not to counter economic stagnation -Arun Kumar
-The Hindu The government has to garner resources and give a boost to the economy by increasing its investments The Centre and the States are so short of resources that their fiscal deficit is burgeoning. The Prime Minister, at a function of the Associated Chambers of Commerce and Industry of India recently, was optimistic but the Reserve Bank of India (RBI) Governor was less positive, admitting that the country’s economic problems are...
More »Double trouble: On uneven inflation and sluggish growth
-The Hindu Uneven inflation and sluggish growth present serious dilemmas for policymakers Policymakers face a tricky dilemma as prices in the economy continue to rise even as economic growth has plummeted to well under 5%. Food inflation, now in double-digits, has caused significant pain. The International Monetary Fund on December 23 called for “urgent” policy measures to reverse the current slowdown that has weighed down global economic growth. The warning is timely...
More »NPA divergence of Rs 29,000 cr in 12 banks: Why there is more to accounting jugglery than meets the eye -Dinesh Unnikrishnan
-Firstpost.com * The stark divergence in banks’ estimates vs that of the RBI has raised many eyebrows in the investor community prompting them to avoid such companies till clarity emerges * Recently, Bank of Baroda reported a divergence of Rs 5,250 crore in gross NPAs for the year ended March 2019 * Ever since divergences came to public, banks have begun to make higher provisions to cover up the mess An element of trust...
More »RBI's 2018 notification excluded Muslims from Pakistan, Bangladesh to open bank account in India -Manoj Sharma
-BusinessToday.in The notification was first issued in March 2018 after a nod from the Ministry of Home Affairs and the Department of Economic Affairs, following which it was made mandatory for banks to mention the religion of a person from Pakistan and Bangladesh for opening an account in India Even as the protests over the recently passed Citizenship Amendment Act have brought India to a standstill, the Reserve Bank of India (RBI)...
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