-PTI “The Commission feels that there is no match between what RBI Governor and Deputy Governor say" The Central Information Commission (CIC) has issued a show-cause notice to RBI Governor Urjit Patel for “dishonouring” a Supreme Court judgment on disclosure of wilful defaulters’ list. The CIC has also asked the Prime Minister’s Office, the Finance Ministry and the Reserve Bank of India (RBI) to make public the letter of former RBI governor Raghuram...
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RTI confirms Rajan sent PM Modi list of bank defaulters in February 2015 -Dheeraj Mishra
-TheWire.in/ Business Standard Asked what action was taken after receiving Rajan's list of NPA defaulters suspected of fraud, the PMO replied that this information does not fall within the scope of RTI New Delhi: Information disclosed in response to an RTI request made by The Wire has confirmed that former Reserve Bank of India governor Raghuram Rajan indeed notified Narendra Modi of the need to probe key defaulters as early as eight...
More »Are loan waivers the only way to help farmers? -Sanjay Kaul
-The Hindu Business Line The trend of farm loan waivers has gripped the country and Karnataka is the latest to jump on to the bandwagon. The fiscal strain of farm loan waivers on the States is worrisome. As per RBI, the gross fiscal deficit (GFD) of States rose to 3.1 per cent of GDP in 2017-18, breaching the threshold of 3 per cent GFD/GSDP ratio recommended by the Finance Commission. This threshold has...
More »Wilful defaults increased by 152 per cent during Modi regime -Vandana
-TheWeek.in Wilful defaults, loans which are deliberately not repaid by companies despite having the capacity to do so, have surged 152 per cent in the last four years of Modi government. A new report prepared by Pinkerton – a risk management consultancy along with PHD Chamber of Commerce and Industry – says that both gross NPAs and wilful defaults have been going up post 2008 financial crisis. The value of wilful defaults...
More »Farmer debts: Relief, the Kerala way -Shriya Mohan
-The Hindu Business Line Eleven years since its inception, the State’s farmer’s debt relief commission has quietly eased the burden of debt on poor farmers, and grown to be a model worth emulating Earlier this week 35,000 debt-ridden farmers coursed through Maharashtra, walking 180 km on blistered soles, to converge at Mumbai’s Azad Maidan demanding freedom from debt and fair compensation for their produce. As the government scrounged for solutions, it could’ve...
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