-The Hindu Business Line Switching off internet services as per government orders hurts dependent businesses to the tune of Rs. 2.45 crore per hour, according to Telecom Companies. A telecom industry association representative said, “It is estimated that the loss has increased to Rs. 2.45 crore per hour by the end of 2019 as the dependence of various services on internet has significantly increased.” Telecom Companies have to abide by the government orders...
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NPA divergence of Rs 29,000 cr in 12 banks: Why there is more to accounting jugglery than meets the eye -Dinesh Unnikrishnan
-Firstpost.com * The stark divergence in banks’ estimates vs that of the RBI has raised many eyebrows in the investor community prompting them to avoid such Companies till clarity emerges * Recently, Bank of Baroda reported a divergence of Rs 5,250 crore in gross NPAs for the year ended March 2019 * Ever since divergences came to public, banks have begun to make higher provisions to cover up the mess An element of trust...
More »Amount owed by insurers to farmers at all-time high -Zia Haq
-Hindustan Times PMFBY has run into many of the old problems. The one most troubling issue for farmers is a continuous delay in payouts. The average delay in payment of claims, according to official data, is more than a year from the date of harvest. When the Pradhan Mantri Fasal Bima Yojana (PMFBY), the country’s flagship crop insurance scheme was launched in June 2016, the idea was to replace complicated, multiple insurance...
More »India facing 'Great Slowdown', economy headed to ICU: Arvind Subramanian
-PTI * Subramanian had flagged the problem of debt accumulated by private corporates becoming NPA of banks back in December 2014 * At that time, he was CEA to the Narendra Modi government NEW DELHI: India is facing a "Great Slowdown" with its economy headed for intensive care unit primarily due to a "second wave" of the twin balance sheet crisis at banks, former Chief Economic Adviser Arvind Subramanian has said. Subramanian, who was...
More »Seed industry proposes changes in Seed Bill 2019
-The Hindu Business Line The National Seed Association of India (NSAI), which represents top seed Companies in the country, on Wednesday suggested some changes in the proposed Seed Bill 2019, including a more scientific definition of transgenic variety, enhanced farmer rights on seeds and enlisting the services of private firms for evaluating new varieties before seed registration. In letters written to Indian Council of Agricultural Research - Director General (ICAR) Trilochan Mahapatra...
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