-The Hindu The rankings serve as a trusted ready-reckoner for foreign investors looking to invest in a country Chennai: India’s leap in the World Bank’s Ease of Doing Business rankings this year has slipped under the radar, in the cacophony over demonetisation and the RBI-Centre spat. The country has, in fact, been one of the biggest ‘improvers’ in the 2019 study, with its rank shooting up from 100 to 77, among 190 countries....
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BHIM UPI, RuPay swipe Mastercard, Visa -Shishir Sinha
-The Hindu Business Line Home-grown payment systems corner over 60% of digital transactions New Delhi: India’s own Bharat Interface for Money (BHIM) and RuPay cards have garnered over 60 per cent market share of the digital transactions business, pushing back global giants such as Mastercard and Visa. BHIM is a UPI-based payment interface that allows real-time fund transfer using a single identity, typically a mobile number or a name. Unified Payments Interface (UPI)...
More »Demonetisation, GST held back growth: Raghuram Rajan
-PTI Says 7% growth not enough; centralisation of power a problem. Demonetisation and the Goods and Services Tax (GST) are the two major headwinds that held back India’s economic growth last year, former RBI governor Raghuram Rajan has said, asserting that the current 7% growth rate is not enough to meet the country’s needs. Addressing an audience at the University of California in Berkeley on Friday, Rajan said for four years — 2012...
More »No 'less cash' two years post note ban
-The Hindu Cash in circulation and ATM withdrawals have only increased, RBI data shows Thursday, November 8, marks the second anniversary of the demonetisation exercise. It was on the same day in 2016 that Prime Minister Narendra Modi announced that ?1,000 and ?500 currency notes would no longer be legal tender. These notes constituted over 86% of the currency in circulation, then. One of the objectives of demonetisation was to move to a...
More »Explained: How 100 frauds hit banks -Rahul Tripathi
-The Indian Express CVC report analyses 100 major frauds on public sector banks, committed by borrowers from 13 sectors. Among them, an aviation firm that got loans based on its brand name in spite of a poor credit rating; and jewellers who allegedly inflated value of diamonds and submitted fake details on debtors. New Delhi: The Central Vigilance Commission (CVC) recently came out with a report that analyses the top 100 bank...
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