-The Hindu Business Line Gross non-performing assets of Banks could rise to 11 to 11.5 per cent this fiscal CRISIL Research has stated that the current coronavirus pandemic could lead to a four per cent permanent loss to real Indian gross domestic product (GDP) and said that more fiscal stimulus will be required. Most economies across the globe are unlikely to see normal conditions until 2022 due to the current coronavirus pandemic and...
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Mehul Choksi Tops RBI List Of Defaulters Who Owe Nearly Rs 70,000 Crore -Divyanshu Dutta Roy
-NDTV/ PTI In response to a RTI query, the RBI released the names of top 50 with the highest amount of loans written off New Delhi: Business tycoons Mehul Choksi, the Jhunjhunwala brothers, and Vijay Mallya are among the prominent individuals linked to companies named by the Reserve Bank of India (RBI) in a list of the top 50 wilful defaulters accused of scamming the country's Banks. In a Right to Information or...
More »Suggested resources to understand the COVID-19 crisis better
These days a lot many articles, reports, documents, etc. are appearing in the public domain on Coronavirus infection and related issues. An attempt has been made in the present news alert to put together in one place some of the best articles, reports, blogs, webinars, podcasts, etc., which can be useful for our readers. We have divided the resources under various themes for the convenience of our readers and social media...
More »Migrant hunger and lockdown games -Amrita Johri and Anjali Bhardwaj
-The Hindu Business Line The government is seen doing very little to mitigate the woes of the thousands of migrant workers who have been pushed to the brink of starvation by the lockdown * Post the Covid-19 lockdown, unorganised sector migrant labourers have been unable to afford even two square meals a day * 78 per cent of workers surveyed said they had less than ₹300 * Economic relief packages such as PMGKY have...
More »Finance Minister stipulates time frame for Banks to disburse loans; move comes as lenders turning risk averse -Manojit Saha
-The Hindu In a communication to State-run Banks, the government said the move is aimed at ensuring credit flow for economic activities and the guidelines come into effect from Monday when the business activities resume. Mumbai: As business activities resumed on Monday after a nationwide lockdown, the Finance Ministry has swung into action to ensure credit flow to companies and prescribed a specific time frame for Banks within which a loan needs...
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