-The Financial Express India Economic Survey 2018: Chief Economic Advisor Arvind Subramanian says that the Indian economy is showing robust signs of recovery and a series of major reforms undertaken over the past year will allow real GDP growth to reach 6.75 percent this fiscal and will rise to 7.0 to 7.5 percent in 2018-19. Addressing media in the press conference post release of the economic survey, CEA Arvind Subramanian noted...
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Iron, steel cos' GNPA for PSBs in basic metals 24%: Govt
-PTI The Indian steel industry contributes approximately 2 per cent to the country's GDP New Delhi: Iron and steel sector accounts for about 24 per cent of total gross non-performing assets (GNPA) in basic metal and metal product category for public sector banks (PSBs), according to the Ministry of Steel. "The share of gross non-performing assets (GNPA) for iron and steel in basic metal and metal product category as on September 30, 2017...
More »FRDI: Grossly at Odds with the Indian Financial System -Sucheta Dalal
-MoneyLife.in The government’s penchant for painting all legitimate questions about its faulty policy-making as scaremongering or anti-national is getting rather irksome. Prime minister Narendra Modi (at the FICCI annual general meeting) and finance minister Arun Jaitley have both responded to fears over the implications of the Financial Resolution and Deposit Insurance Bill (FRDI Bill) , 2017, by lashing out at critics and reassuring people that the government will protect bank deposits....
More »Needs a rethink
-The Hindu Business Line The Centre and the JPC must allay depositor concerns on bail-in, in the FRDI Bill There is furious public debate around the Financial Resolution and Deposit Insurance (FRDI) Bill tabled in August and now under the scrutiny of a Joint Parliamentary Committee. The Bill seeks to lay down a clear resolution mechanism for banks and financial firms in the case of default and this is welcome. But there’s...
More »CAG raps govt-owned banks for understating non-performing assets -Indivjal Dhasmana
-Business Standard Govt told to be consistent on capital infusion criteria The Comptroller and Auditor General of India (CAG) has slammed the managements and statutory auditors of 12 public sector banks (PSBs) for overstating their net profit, by underestimating non-performing assets (NPAs) and under-providing for these bad assets during 2016-17. Also, there were differences in the classification of and provisioning for assets between five banks and the Reserve Bank (RBI) but as the...
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