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FINANCIAL NEWS IN A NUT SHELL

Yatheendradas C.k. at 08:54 AM - Sep 01, 2017 ( ) Views: 122

Finance Minister Arun Jaitley today put private
sector debtors on noce
saying they will have to
pay their dues to banks or allow somebody else
to step in and take control of the business. Jaitley
said the government was open to providing more
capital to banks but cleaning up stressed loans
was bigger priority.
“Through the bankruptcy law,
I think this is the first me
that debtors in India
are being taken to task,
” he said.
‐Business Lines


The government has exempted consolidaon
among PSBs from the scruny
of compeon
authority. The exempon
will cover all cases of
reconstuon,
transfer of the whole or any part
of naonalised
banks and will be available for a
period of 10 years.
‐Economic Times


Punjab Naonal
Bank has reduced its MCLR by
20‐25 basis points with effect from Sep 1. The
Bank has also reduced its base rate by 20 basis
points from 9.35% to 9.15% with effect from Sep 1.
‐Business Line


Demonesaon
has caused net loss to RBI’s
seigniorage — the profit accruing from currency
issuances and liquidity operaons
— besides
increasing the cost of prinng
notes, says an SBI
Research report.
‐Business Line

 


Paytm Payments Bank is in talks to partner with
full‐service banks to offer services such as loans
and term deposits which it cannot do on its own
due to regulatory restricons,
its CEO Renu Satti told.
‐Business Standard


Moody's Investors Service today said that its
outlook on the Indian banking system is "stable"
,
with the system's ongoing progress in managing
legacy asset issues offseng
the significant
capital shoralls
some banks connue
to face.
‐Business Line


India’s economic growth slipped to a 3‐year low
of 5.7% in the April‐June quarter as disrupons
caused by demonesaon
spilled over into the
third straight quarter amid a slowdown in
manufacturing acvies.
GDP had expanded by
6.1% in the preceding quarter.
‐The Hindu


Power Minister Piyush Goyal today said that the
return of 99% of the scrapped notes into the
banking system is a "great endorsement" of the
success of demonesaon.
‐Moneycontrol.com


The Central cabinet resolved an issue pending for
24 years on the determinaon
of equivalence of
posts in government and posts in PSUs, PSBs for
claiming benefit of OBC reservaons.
In PSUs, all
execuve
level posts such as board level
execuves
and managerial level posts would be
treated as equivalent to group 'A' posts in
Government. This will be considered Creamy
Layer. There are 6 categories specified for
idenfying
Creamy Layer. The said parameters
would apply to officers holding equivalent or
comparable posts in PSUs, banks, insurance
organizaons,
universies, etc.
‐Business Today


Income Tax department has extended the
deadline to link PAN with Aadhaar by 4 months
to December 31.
‐Economic Times


Former Governor of the Reserve Bank of India,
Raghuram Rajan, has aacked
populist
naonalism
and identy‐based
polics
and said
that it leads to crony capitalism and ulmately
a breakdown of the system.
‐News18


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NIFTY50 9917.90(+33.50)


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