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.
The government has exempted consolidaon
among PSBs from the scruny
authority. The exempon
will cover all cases of
transfer of the whole or any part
banks and will be available for a
period of 10 years.
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.
has caused net loss to RBI’s
seigniorage — the profit accruing from currency
issuances and liquidity operaons
increasing the cost of prinng
notes, says an SBI
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.
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
some banks connue
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
GDP had expanded by
6.1% in the preceding quarter.
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.
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
level posts such as board level
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
Creamy Layer. The said parameters
would apply to officers holding equivalent or
comparable posts in PSUs, banks, insurance
Income Tax department has extended the
deadline to link PAN with Aadhaar by 4 months
to December 31.
Former Governor of the Reserve Bank of India,
Raghuram Rajan, has aacked
that it leads to crony capitalism and ulmately
a breakdown of the system.