-The Times of India BENGALURU: From misuse of letters of credit, guarantee or undertakings to diversion and siphoning of funds, a variety of frauds linked to advances haunt the Indian Banking system, indicating a lack of hygiene and risk frameworks. While 86% of all frauds in India for 2016-17 are linked to advances, it was 99% at Punjab National Bank (PNB) which, experts say, points to collusion with insiders. Also, 26 banks...
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RBI's NPA bitter pill comes with some side effects -Richa Mishra & KR Srivats
-The Hindu Business Line Bankers call for a coordinated approach to deal with the stressed loans issue New Delhi: The RBI’s revised framework for stressed loans may prove to be disastrous and seems ill timed for an economy that is just recovering from twin policy blows of demonetisation and GST implementation. Though there are long-term benefits of administering such a bitter pill, the short-term risks are significant, say bankers. “This (revised NPA framework) is...
More »Women hold over 50% of Jan Dhan accounts
-The Times of India NEW DELHI: In what marks a boost for financial inclusion, more than half of PM Jan Dhan Yojna account-holders are women and they are also carrying out transactions rather than merely opening accounts, a sample survey by a financial inclusion consulting firm has indicated. The “State of the Agent Network 2017” report released by Microsave on Wednesday found that there has been a more than 200% increase in...
More »15 months after demonetisation, RBI still processing returned notes
-PTI RBI said in the report, for the year ended June 30, 2017, that only Rs 16,050 crore of the Rs 15.44 lakh crore in old high denomination notes had not returned The RBI has said that Rs 500 and Rs 1,000 notes, returned to banks when the government demonetised high-value currency 15 months ago, are still being “processed for their arithmetical accuracy and genuineness”. This is being done in an...
More »Issues of Marginalized Sections: Analysis of Union Budget 2018-19 by Delhi Solidarity Group
-Press Release by National Alliance of People's Movements (NAPM) The Delhi Solidarity Group (DSG) has come out with a critique of the Union Budget 2018-19. Please click here to access the report by DSG entitled: Issues of Marginalized Sections: Analysis from the perspectives of Handloom, Fisheries, Dalits, Adivasis, Forest, Agriculture, Banking and Financing, Urban Housing, Rural Development, Land & Higher Education. The following civil society organizations have contributed for the preparation...
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