-PTI ‘Impact in 2017-18 at ?36,694 cr. more than twice seen in previous 2 years, each’ Indian banks reported a total loss of about ?70,000 crore due to frauds during the last three fiscals up to March 2018, the Rajya Sabha was informed on Tuesday. The extent of loss in fraud cases reported by scheduled commercial banks (SCBs) for 2015-16, 2016-17 and 2017-18 was ?16,409 crore, ?16,652 crore and ?36,694 crore, respectively, Minister...
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Insolvency and Bankruptcy Code: BJP claims Rs 4 lakh crore recovery; RBI data tell a different story -Sunny Verma
-The Indian Express As against this claim, the Reserve Bank of India's latest data shows that the public sector banks could recover a total of only Rs 15,786 crore in the fiscal year 2016-17 and 2017-18 till December 31 through all recovery channels, including IBC. The BJP claimed on its Twitter account on Saturday that the “Insolvency and Bankruptcy Code (IBC), 2016 has resulted in recovery of Rs 4 lakh crore out...
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...
More »Why are India's farmers committing suicide?
-IANS Farmer suicides have been taking place across India for years now, and studies of rural distress reveal the deeply-rooted, tenacious causes, such as lack of irrigation, fragmentation of land, unsuitability of seeds and inadequate sources of credit. Despite the democratically-elected governments that claim to represent a country where over half the population is dependent on farming, agriculture has been consistently ignored at a steep cost to farmers' lives. Remedies have been...
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