-The Indian Express The Finance Ministry directed smaller PSBs to cut their corporate loan exposure to 25 per cent of their risk-weighted assets over the medium term and focus more on retail lending. Corporate loans corner the lion’s share of rising bad loans in public sector Banks while retail loans have a far superior track record when it comes to timely repayment, according to the latest available Reserve Bank of India...
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Banks told to be vigilant on Aadhaar -Manojit Saha
-The Hindu Use OTPs only in the presence of customers: UIDAI The Unique Identification Authority of India (UIDAI) has asked Banks to provide Aadhaar-based onetime password (OTP) for opening of bank accounts only in the presence of the customer, in a banking outlet. In a letter addressed to commercial Banks, UIDAI Chief Executive Officer Ajay Bhushan Pandey cited instances of misuse of Aadhaar while opening accounts. The direction is a huge blow to the...
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 »Aadhaar is blind to purpose of validation: UIDAI CEO -Dhananjay Mahapatra
-The Times of India NEW DELHI: Aadhaar is blind to the purpose of authentication as it only establishes identity and nothing more, Unique Identification Authority of India (UIDAI) CEO Ajay Bhushan Pandey told the Supreme Court on Thursday, countering apprehensions that Aadhaar would result in “virtual surveillance” of citizens. In the course of a Power-Point presentation, Pandey said Aadhaar was a tool to establish identity and was not an aggregator of...
More »Read the distress signals -Ajit Ranade
-The Hindu Farming must be treated as a market-based enterprise and made viable on its own terms The week-long farmers’ march which reached Mumbai earlier this month, on the anniversary of Gandhi’s Dandi March of 1930, was unprecedented in many ways. It was mostly silent and disciplined, mostly leaderless, non-disruptive and non-violent, and well organised. It received the sympathy of middle class city dwellers, food and water from bystanders, free medical services...
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