-The Indian Express First, it was demonetisation and crop price crash; now it is the collapse of cooperative credit that is hurting farmers during peak kharif operations. For most Maharashtra farmers, drying up of institutional finance for kharif farming operations is what’s really hurting. Nashik (Maharashtra): Last kharif, the Nashik District Central Cooperative Bank (NDCCB) disbursed Rs 1,608.55 crore of crop loans during April-June, exceeding its target of Rs 1,257.18 crore. This...
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Is WPI useful in India anymore? -Barendra Kumar Bhoi
-The Hindu Business Line Using just wholesale price index as deflator could distort real GDP. Price indices for all inputs and outputs would work better Prior to the introduction of the all-India Consumer Price Index, popularly known as CPI combined (rural plus urban), the Wholesale Price Index (WPI) was the most useful price index in India. It measured the weekly rhythm of price movement in the country. Since 2009, WPI has been computed...
More »Banks have no liability for loss of valuables in lockers: RBI -Hary M Pillai
-PTI RBI says do not expect any compensation for theft or burglary of valuables in safe deposit boxes of public sector banks as the locker hiring agreement absolves them of all liability New Delhi: Do not expect any compensation for theft or burglary of valuables in safe deposit boxes of public sector banks as the locker hiring agreement absolves them of all liability. This bitter truth was disclosed in an RTI response...
More »Bleeding banks need more than a bandage -Shachi Singh
-GoI Monitor The NPAs have risen to Rs 10 lakh crore and farm loans make a very small portion of it. Will the recent RBI actions help? THE Reserve Bank of India (RBI) has decided to act against 12 big corporates responsible for 25 per cent of the Rs 10 lakh-crore non-performing assets (NPAs) in Indian banks. However, despite Supreme Court's order in 2015, the RBI has refused to make the list...
More »Government Allows Co-Operative Banks To Deposit Old Notes With RBI -Abhishek Vasudev
-NDTV Profit The relaxation comes against the backdrop of reports that many district co-operative banks did not have enough cash to disburse to farmers. The Finance Ministry on Tuesday allowed banks, post offices and district central cooperative banks to deposit the scrapped Rs. 500 and 1,000 rupee notes with the Reserve Bank of India within 30 days and exchange the value of notes deposit with the new notes. In an official notification...
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