-Scroll.in A drop in household savings has caused concern about economic recovery in the country. On Wednesday, the Reserve Bank of India released data on household savings for the third quarter of 2020-’21. This covered the October-December 2020 period, which means the data captured the aftermath of first Covid-19 wave in India and the economic disruptions that containment measures such as lockdowns caused. The numbers are disappointing with a sharp dip in the...
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Rural term Deposits fall for first time in eight years -Vivek Kaul
-Livemint.com As of 31 March, the total outstanding term Deposits with banks in rural India contracted by 1.05% to ₹6.99 trillion from a year earlier Every three months, the Reserve Bank of India (RBI) declares region wise data for term Deposits. As of 31 March, the total term Deposits of commercial banks in India rose 8.42% to ₹86.4 trillion from a year earlier. Term Deposits are money that depositors keep in a bank...
More »Indians' funds in Swiss banks climb to Rs 20,700 crore, highest in 13 years
-PTI/ IndiaToday.in 'Other amounts due to customers' from India rose over six times Overall, customer Deposits in all Swiss banks rose in 2020 to nearly CHF (Swiss franc) 2 trillion Swiss authorities maintain that assets held by Indians in Switzerland cannot be considered as 'black money' New Delhi/ Zurich: Funds parked by Indian individuals and firms in Swiss banks, including through India-based branches and other financial institutions, jumped to 2.55 billion Swiss francs (over...
More »Nobel winner Abhijit Banerjee calls for bigger government cash payments to Covid-hit poor -Paran Balakrishnan
-The Telegraph Poverty research pioneer cites US, UK and EU experience; Niti Aayog vice-chairman disagrees, says there’s no guarantee ‘helicopter money’ will lead to spending Nobel laureate Abhijit Banerjee has stepped up to the firing line by arguing the government should make bigger direct cash payments under the MGNREGA scheme to help people who have slid into poverty due to the pandemic. The government has already indicated it’s not keen on larger direct...
More »Behind the politics battle, West Bengal’s slowdown economics -Sandeep Singh and Sunny Verma
-The Indian Express The anti-incumbency Banerjee faces is as much about local-level corruption and competing ideologies as it is about stalled industrialisation, weak credit growth, a near-freeze in new jobs, low infrastructure development and agriculture spend. AS West Bengal Chief Minister Mamata Banerjee fights perhaps her most significant electoral battle, framing her contest is not just BJP vs Trinamool politics — but the state’s economics as well. The anti-incumbency Banerjee faces is as...
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