-The Indian Express While blaming a large part of the problem on the high credit growth between 2004 and 2011, when it grew 27 per cent and resulted in a build-up of NPAs, he said it takes a lot for the government which has inherited all the 'systems and inertia'. New Delhi: Taking cognizance of the bad liquidity situation in the financial sector and weak private investment in the economy, Rajiv...
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NPAs Under Modi's Mudra Scheme Doubled in Just a Year, Reveals RTI -Dheeraj Mishra
-TheWire.in Public sector NPAs of loans issued under the scheme have increased by Rs 9,204.14 crore in just one year – from Rs 7,277.31 crore in March 2018 to Rs 16,481.45 crore in March 2019. New Delhi: The non-performing assets (NPAs) under Prime Minister Narendra Modi’s ambitious Pradhan Mantri Mudra Yojana (PMMY) doubled within one year. This information was obtained through an RTI petition filed by The Wire. In a written reply to...
More »CIC tells RBI to give defaulters names to RTI applicant
-Deccan Chronicle The RTI Act provides for a two-stage dispute resolution process. Mumbai: The Central Information Commission (CIC) has directed the RBI to disclose the list of big loan defaulters it had sent to various banks for resolution. The CIC's directive came while deciding on a plea by an RTI activist, who had based the Right to Information application on media reports that RBI Deputy Governor Viral Acharya in a lecture in 2017...
More »No Bank of Maharashtra loans for drought-hit farmers -Manojit Saha
-The Hindu Lender cites high bad loans for drastic move in two States; Marathwada, Vidarbha to be impacted Mumbai: In an unusual move, a state-run lender, Bank of Maharashtra, has decided not to extend loans in eight zones in Maharashtra and Madhya Pradesh that include Aurangabad, Latur, Akola, and Amravati, which are hit by drought. The bank cited high bad loans from agricultural advances in the branches of these zones for the decision....
More »The self-employment conundrum -Arindam Gupta
-The Telegraph Funding small entrepreneurs will require more bank loans, preferably collateral-free, which will generate more NPAs The government has been compelling banks to adopt a softer lending policy to promote self-employment. The Pradhan Mantri Mudra Yojana, launched in 2015, provides collateral-free loans to small entrepreneurs outside the farming sector in three categories: Rs 50,000 loan in the ‘Shishu’, Rs 5,00,000 in the ‘Kishore’ and Rs 10,00,000 in the ‘Tarun’ segments respectively....
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