-The Hindu * When does the Reserve Bank of India intervene, and what are some of the key steps it takes? The story so far: On November 17, the Centre, acting on the recommendation of the Reserve Bank of India (RBI), imposed a moratorium on Lakshmi Vilas Bank (LVB) for a period of 30 days. The 94-year-old bank, based in Karur, Tamil Nadu, has been struggling with losses for three years. As...
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The peculiar rise of protein inflation -Sayantan Bera
-Livemint.com * The supply chain disruption in poultry continues, further hurting the nutritional standards of poorer households * The current steep prices of items that make up the retail food basket—be it eggs, pulses or vegetables—is evidently taking a toll on millions of Indian households NEW DELHI: Banks should not advance large loans to farmers, least of all to those in the poultry business, an exasperated Ramesh Mehla said over the phone. He...
More »Why Recovery at Cost of Worker Immiserisation Won’t Last Long -Prabhat Patnaik
-Newsclick.in GDP recovery from the lockdown-induced abyss is accompanied by significant labour displacement and squeeze on wages, which will impact aggregate demand. Ministers from Narendra Modi to Nirmala Sitharaman are talking about a recovery of the Indian economy from the pandemic-induced crisis. Even the Reserve Bank of India (RBI), which estimated the second quarter GDP growth to have been -8.6%, has seen signs of recovery in October. Of course, there had to be...
More »Top Court To Hear Plea Seeking Regulation On UPI Platform Data On Monday
-NDTV.com/ PTI The matter came up for hearing before a Supreme Court bench comprising Chief Justice SA Bobde and Justices AS Bopanna and V Ramasubramanian which listed it for hearing next week. New Delhi: The Supreme Court has said it would hear on November 23 the plea filed by Rajya Sabha MP Binoy Viswam seeking direction to the RBI for framing regulation to ensure that data collected on UPI platforms is not...
More »Has personal loans seen a rebound ahead of the festive season? The answer is in the negative
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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