-The Hindu Thiruvananthapuram (Kerala): The government is considering a proposal to exempt stamp duty on agricultural loans issued by commercial banks. Finance Minister K.M. Mani told a meeting of the State Level Bankers Committee (SLBC) here on Monday that a decision on the issue would be taken soon after assessing the financial implications. Pointing to the substantial share of commercial banks in primary sector credit, the last meeting of the SLBC had...
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Rs 1 lakh crore bad loans of corporates written off: RBI-Mayur Shetty
-The Times of India MUMBAI: Data collected by Reserve Bank of India over a period of one year blows the lid off what goes as loan classification in banks. In a presentation at the annual bankers' conference, RBI deputy governor K C Chakrabarty showed how banks have sacrificed over Rs 1 lakh crore by writing off bad loans to corporates, which is much higher than Union finance minister P Chidambaram's farm...
More »Clarity on loan waivers
-The Asian Age Reserve Bank deputy governor K.C. Chakraborty has finally set the record straight on what is well known in left-wing development circles: that Corporate India's loans waived by banks are more (over Rs. 1 lakh crore in the past 13 years) than farm loans to the tune of Rs. 60,000 crores written off under the Debt Waiver and Debt Relief Scheme. More revealing is that medium and large units have...
More »Don’t blame the Food Bill
-The Hindu The currencies of India, Indonesia, Brazil, South Africa and Turkey have fallen quite dramatically against the dollar in the past few months. Whatever their domestic weaknesses, the reasons for this unprecedented decline - ranging between 13 to 21 per cent - are primarily global. In the past 48 hours, as tension mounts in West Asia, an already unprecedented situation has become even more difficult. On Wednesday, the rupee, as...
More »Sonia rolls out food security scheme, Congress blames Modi for delaying bill
-PTI NEW DELHI: Congress president Sonia Gandhi on Tuesday rolled out the ambitious and "game-changer" food security scheme in Delhi, Haryana and Uttarakhand after party leaders attacked Narendra Modi and the opposition for the delay in passage of the bill in Parliament. Unveiling the scheme by handing over food grain packets and Aadhar-based smart cards to 12 women beneficiaries in the capital, she lauded the UPA government for bringing "revolutionary changes" in...
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