-Livemint.com * 'If you want to boost consumption, it has to be a direct benefits transfer or a universal basic income, not a personal income tax cut,' the former CEA said in New Delhi * Subramanian said that India has infused quite a bit of capital into stressed state-run banks and any further capital infusion should be linked to reforms New Delhi: A universal basic income, rather than a cut in the tax...
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FM Sitharaman says RBI had no objection to electoral bonds issuance by SBI; documents point otherwise -Udit Misra
-The Indian Express It is unclear why the government initially assured the RBI that RBI "alone" will issue electoral bonds as it could not do so under Section 31(3) of RBI Act. On Tuesday, replying to a question in Rajya Sabha raised by DMK’s Tiruchi Siva about what the Reserve Bank’s “indirect” approval to the issuance of electoral bonds meant, Finance Minister Nirmala Sitharaman said: “RBI, being a stakeholder, was involved in...
More »SBI under-reported Rs.11,932 crore of bad loans in FY19, finds RBI report
-The Hindu SBI reports Rs.11,932 crore NPA divergence in FY19 The Reserve Bank of India's (RBI’s) inspection report has found out that State Bank of India (SBI) under-reported Rs.11,932 crore of bad loans in FY19, which has pushed the bank to report net loss for the financial year 2018-19. The divergence in net non-performing asset (NPA) was also Rs.11,932 crore, the bank informed the exchanges. According to the RBI, provision requirement for SBI increased...
More »Bad loans under Mudra Kishore jump 107% in six months -Shyamlal Yadav
-The Indian Express 12 PSU banks data reveal smallest ticket size Shishu loans fare best. New Delhi: THE number and value of bad loan accounts in the Kishore category of the Pradhan Mantri Mudra Yojana (PMMY) for a dozen public sector banks including State Bank of India, Canara Bank and Bank of Baroda, have jumped 107 per cent and 71 per cent, respectively, as on September 30, 2019 compared with March...
More »BJP wanted electoral bonds without serial numbers -Priscilla Jebaraj
-The Hindu The party recommended that electoral bonds should be issued without any serial number or identification marks. The Bharatiya Janata Party (BJP) had pitched for greater anonymity for donors of electoral bonds, according to a letter sent by party general secretary Bhupendra Yadav to Finance Minister Arun Jaitley in August 2017 when the scheme was being drafted. This letter was obtained by activist Lokesh Batra through a Right to Information application. The...
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