Just before Dhanteras and Diwali this year, the Reserve Bank of India (RBI) released the November edition of its monthly bulletin. The latest RBI Monthly Bulletin says that the GDP has contracted by -8.6 percent in the second quarter of fiscal year 2020-21 (i.e. July-September, 2020) as compared to the gross domestic product (GDP) during the corresponding period last year. It may be noted that India’s GDP shrunk by -23.9...
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Deposit insurance cover raised to Rs.5 lakh
-The Hindu The first increase in 27 years assumes significance in the wake of the crisis at PMC Bank Mumbai: The government has decided to increase the insurance cover for bank deposits to ?5 lakh from ?1 lakh, Finance Minister Nirmala Sitharaman said in her Budget speech. This is the first time since 1993 that the deposit insurance cover has been raised. The Finance Minister assured that there was a robust mechanism in...
More »Farm Pollution: Happy Seeder produces not-so-happy results on ground -Anju Agnihotri Chaba
-The Indian Express Area under paddy stubble burning in Punjab up despite number of machines almost doubling. Jalandhar: Punjab farmers have sown 4.50 lakh hectares (lh) wheat area this time using Happy Seeders. This is nearly 13% of the total 35.08 lh planted under the rabi cereal crop in the state. Not bad, it would seem, for a relatively new technology, which allows wheat to be directly seeded in combine-harvested paddy fields...
More »Public sector banks' long-term strategy on Jan Dhan begins to pay off -TCA Sharad Raghavan
-The Hindu Total deposits in the last three years have grown by over 2.5 times to Rs. 98,400 cr. Public sector banks stand to earn as much as Rs.5,000 crore due to the increasing quantum of deposits placed in Jan Dhan accounts, and can vastly monetise this resource once they start implementing advanced analytics and begin lending to these customers, according to industry players and analysts. Over the last three years, the number...
More »At Rs 670 crore, BSP has biggest bank balance among parties -Pradeep Thakur
-The Times of India NEW DELHI: The Bahujan Samaj Party (BSP) has the biggest bank balance among all parties, according to official records. The expenditure report submitted by BSP to the Election Commission on February 25 states that it has Rs 669 crore deposited in eight accounts in branches of public sector banks in the national capital region. The party, which scored a blank in the 2014 Lok Sabha polls, has also...
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