-The Hindu What happened? On June 1, farmers in Maharashtra went on strike for the first time ever. Their agitation saw violence, and angry farmers spilling milk and throwing vegetables on the road; at one point the strike expanded into a bandh call, where agitators threatened to stop supply to urban markets. This apparently leaderless agitation grabbed the attention of both the government and the urban population, quite ignorant of conditions in...
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NDTV probe: Private banks fear debt resolution may be hit -Mayur Shetty
-The Times of India MUMBAI: Private sector bankers say that if NDTV's loan settlement with ICICI Bank is termed criminal, it could hit resolution of bad debts. The concerns follow the Central Bureau of Investigation (CBI) alleging that ICICI Bank officials may have caused wrongful gains to NDTV promoters by agreeing to cut the interest rate to settle the loan. "Settlement of any stressed loan involves some sacrifice by the banker. Often...
More »It's DeMo effect, says Singh
-The Telegraph New Delhi: Former Prime Minister Manmohan Singh today directly linked the slowdown in growth to demonetisation, pointed out that private investments had almost dried up and expressed deep concern over a jobs crunch. The most authoritative Opposition voice on the economy was speaking at the Congress Working Committee meeting, five months after describing demonetisation as "organised loot and legalised plunder" and warning that growth would be severely affected. "India's GDP numbers...
More »The hazards of farm loan waivers -Tanika Chakraborty and Aarti Gupta
-Livemint.com Research provides evidence that a blanket farm loan waiver scheme is detrimental to the development of credit markets The Bharatiya Janata Party (BJP) won the 2017 state elections in Uttar Pradesh with a thumping majority and once again, the state government has a debt-waiver package ready to be implemented. The BJP’s electoral manifesto had committed to write off loans of small and marginal farmers, which would approximately cost the government Rs37,000...
More »After 6 months, RBI still in dark on junked notes -AM Jigeesh
-The Hindu Business Line Central bank says specified bank notes yet to be reconciled with the physical cash balances New Delhi: Even six months after the demonetisation exercise, the Reserve Bank of India is yet to complete the accounting of the withdrawn Rs. 1,000 and Rs. 500 notes. The RBI has admitted as much in a 15-page response late in April to questions from the Standing Committee on Finance, headed by veteran Congress...
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