-Newsclick.in LIC’s bad Loans bulged by 145% in the last five years to Rs 30,000 crore in September 2019. Life Insurance Corporation of India (LIC) has been struggling with rising non-performing assets (NPAs) and downgraded investment portfolio of Rs 67,387 crore, reveals the insurer’s latest public disclosure figures. The biggest public insurer has been witnessing a deteriorating health since 2014, significantly due to massive investments in cash-strapped public and private entities pushed...
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Budget 2020-21: Govt to announce Rs 10,000-crore 5-year plan for FPOs -Prabhudatta Mishra
-Financial Express Budget 2020: The direct budgetary aid would be in the form of a grant equivalent to the equity capital of each FPO. Budget 2020: The government will likely announce a five-year scheme in the upcoming Budget, entailing a total support —both budgetary and indirect —of Rs 7,000-10,000 crore to honour its pledge of creating 10,000 farmer producers’ organisations (FPOs) and help boost their agricultural income. The direct budgetary aid would be...
More »SBI under-reported Rs.11,932 crore of bad Loans in FY19, finds RBI report
-The Hindu SBI reports Rs.11,932 crore NPA divergence in FY19 The Reserve Bank of India's (RBI’s) inspection report has found out that State Bank of India (SBI) under-reported Rs.11,932 crore of bad Loans in FY19, which has pushed the bank to report net loss for the financial year 2018-19. The divergence in net non-performing asset (NPA) was also Rs.11,932 crore, the bank informed the exchanges. According to the RBI, provision requirement for SBI increased...
More »NCRB silence on farmer suicides: Reason given by govt fails against earlier data -Deeptiman Tiwary
-The Indian Express The latest NCRB report does not enlist reasons for farmer suicides. The Union Ministry of Home Affairs told Parliament last week that the National Crime Records Bureau (NCRB) had done away with diversified data on farmer suicides in its latest report as many states reported the figure to be “nil”, and hence recording reasons for the suicides was “untenable”. However, an analysis of previous NCRB data shows that states...
More »Nearly 70% of education Loans goes to general category students -Pon Vasanth BA
-The Hindu MHRD data also indicates variation in size of Loans disbursed, with OBCs, SCs and STs receiving lower amounts on average Around 70% of the education Loans disbursed in the country appear to be going to upper caste students, data on a government-funded surety scheme for educational Loans furnished by Ministry of Human Resource Development (MHRD) in the Lok Sabha has indicated. The data provided was on the Credit Guarantee Fund Scheme...
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