-The Hindu Business Line RBI Deputy Governor says such loans support economic activity, generate income & surplus Mumbai: Given the overexposure of the banking system to large corporates and the consequences thereof in the last few years, Reserve Bank of India Deputy Governor SS Mundra said lending to priority sector is good business for all the right and justifiable reasons. “The excessive lending to corporate sector was the outcome of what I call...

-The Telegraph New Delhi: The Reserve Bank of India today told the Supreme Court that it was not in favour of publishing the list of loan defaulters who owed public sector banks Rs 500 crore or more because such disclosure might involve the statutory, contractual and fiduciary rights of the defaulters. Senior advocate Jaideep Gupta, appearing for the Reserve Bank, argued that the grant of loans was covered by various statutes, including...

-The Times of India CHENNAI: Many customers only realise at the time of making a claim that their health insurance policy does not cover certain medical conditions or ailment. Policy holders usually depend on what has been told to them by their insurance agents, who sometimes overstate the coverage. To prevent such cases, the Insurance Regulatory and Development Authority of India (IRDAI) has asked insurers to group together all policy exclusions...

Apart from gross domestic product (GDP) and gross value added (GVA), another indicator which shows whether an economy is thriving or stagnating is the growth in bank credit. Credit is a critical input in the production of goods and services. It is generally the case that during prosperous times, economic actors, who are engaged in different sectors or in various industry, take up bank loans to invest. The provisional data...

-The Times of India NEW DELHI: As much as Rs 110 crore of the Rs 610 crore of unaccounted money seized in raids during demonetisation was in new Rs 2,000 and Rs 500 notes, indicating misuse of windows offered by the government to change old currency. The new currency seized by police and income tax officials was partly generated through routes such as petrol pumps, railway and airline ticketing and toll plazas...