Are public sector banks (PSBs) important for the economy? Have the PSBs served the purpose for which they were created? Could the PSBs compete efficiently against the private sector banks (PVBs)? These are some of the questions, which have been answered by a chapter in the RBI Bulletin's August edition. Efficiency of PSBs Co-authored by Snehal S Herwadkar, Sonali Goel, and Rishuka Bansal (2022) of the Banking Research Division, Reserve Bank of...
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State Bank of India Writes Off Rs1.45 Lakh Crore Bad Loans of Big Defaulters since FY14; Refuses To Share Names -Yogesh Sapkale
-Moneylife.in State Bank of India (SBI) has again refused to share the names of borrowers who owe Rs100 crore or more, even with its shareholder. Over the past nine years, from FY13-14 up to FY21-22, SBI has written off bad loans of over Rs145,248 crore of big defaulters, while recovering just over 13% from them. SBI told social activist and shareholder Vivek Velankar, "The Bank is under statutory and regulatory obligations to...
More »Retail inflation eases to 7.01% in June, but remains above RBI's target band -Meghna Sen
-Livemint.com For the sixth month in a row, the retail price inflation stayed well above the RBI's upper tolerance limit of 6% India's retail inflation eased slightly to 7.01% in June against 7.04% in the previous month, government data showed today. However, in June 2021, the retail inflation stood at 6.26%. The consumer price-based inflation (CPI) has breached the upper limit of RBI's tolerance band, ranging from 2-6%, for the sixth consecutive...
More »UN Report: Global hunger numbers rose to as many as 828 million in 2021
-Press release by FAO dated 6 July 2022 The latest State of Food Security and Nutrition report shows the world is moving backwards in efforts to eliminate hunger and malnutrition Rome/New York: The number of people affected by hunger globally rose to as many as 828 million in 2021, an increase of about 46 million since 2020 and 150 million since the outbreak of the COVID-19 pandemic (1), according to a United...
More »Why the Rise in Workforce Participation During the Pandemic Points to Distress Employment -Shiney Chakraborty, Priyanka Chatterjee and Mitali Nikore
-TheWire.in Although COVID-19 had disrupted economic activity, the workforce participation rate in the last four years has gone up, significantly driven by rural women's employment. The annual Periodic Labour Force Survey (PLFS), first launched in 2017, is one of the only official sources of employment data in the country. Marred by disruptions, the results of the last two surveys (2019-20 and 2020-21) have been eagerly awaited to understand the impact of the...
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