-The Hindu Reviving the consumption demand and private investment has assumed the highest priority in 2019-20, notes central Bank report. Mumbai: The Reserve Bank of India (RBI), in its annual report for 2018-19, has said the lack of domestic demand is holding back the animal spirits in the economy and emphasised the need to revive consumption demand and private investment during 2019-20. “What ails the animal spirits? At the core is the...
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Public sector Banks merger: Modi govt to announce big Bang plan soon -Arup Roychoudhury & Somesh Jha
-Business Standard Finance ministry has called a meeting with chief executives of ten public sector Banks, on Friday The National Democratic Alliance (NDA) government has readied its mega plan for merging multiple set of public sector Banks (PSB) and is set to make an announcement anytime soon, according to multiple sources. The department of financial services in the finance ministry has called a meeting with chief executives of ten public sector Banks, which...
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...
More »Poor recoveries under IBC can derail Centre's Rs. 70,000-cr recap plan -Radhika Merwin
-The Hindu Business Line Barring few cases, large haircuts of 70-90 per cent are continuing to hurt Banks While the Centre’s decision to frontload capital infusion of Rs 70,000 crore into PSBs has boosted sentiment, unless there is quick resolution of large accounts under IBC, this may achieve little. What is of more concern, is the paltry amount that Banks have been realising from the resolution of accounts under IBC. A look at...
More »Rediscovering development Banks -R Nagaraj
-The Hindu The agenda to set up a development Bank is a welcome initiative, but questions remain on its design Finance Minister Nirmala Sitharaman’s press conference on August 23, announcing a slew of measures to boost the economy and financial market sentiments, had an interesting idea. It was about setting up a development Bank. Ms. Sitharaman said: “In order to improve access to long-term finance, it is proposed to establish an organisation to...
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