Finanace Minister Arun Jaitley maintained that
inflaon is well under control and within the
monetary policy target of 4%. Commenng
on his series of meengs
to take stock of the economic situaon,
Jaitley said that the government may
take addional measures to bolster economy.
“An announcement will be made aer consulng the
Prime Minister, ” he said.
The RBI today nofied
that peer‐to‐peer (P2P) lending plaorms
would be treated as
non‐banking financial companies ( NBFCs). This
suggests the lending interface will now come
under the purview of RBIs regulaon
under the RBI Act.
The RBI has said that the banks can classify
priority loans given to defaulng
standard debt, a source‐based report in the
Economic Times said. The move is to ensure that
firms that can be revived are able to raise the
required resources. This, in turn, will help the enties
meet strict deadline imposed by theti
Insolvency and Bankruptcy Code (IBC). Priority
loans are the loans that are repaid before other
loans at the me of liquidaon.
HDFC Bank's OnChat, theFacebook Messenger
chatbot created in partnership with Niki.ai, has
recorded a 160% month‐on‐month growth in
transacons since its launch in Dec 2016.
The owner of Russia's 12th biggest lender by
assets, B&N Bank, has asked the central bank for
a bailout, the regulator said today, 3 weeks aer
another leading Russian bank had to be rescued.
The Finance Ministry says it is examining 3
reports that were commissioned by the previous
Government regime and submied over 3 years
ago on the quantum of black money held by
Indians inside the country and abroad.
Responding to an RTI query filed by a PTI
correspondent, the ministry said informaon
on the findings of the reports was “exempt from
disclosure” under the RTI Act as they were under
examinaon and were yet to be “taken to” Parliament.
The Cabinet Commiee on Economic Affairs
(CCEA) today approved the transfer of ITDC’s
hotels to state governments. The Cabinet also
approved the divestment of ITDC’s 51% equity
shares in Donyi Polo Ashok Hotel Corporaon
Limited in favour of the Arunachal Pradesh state
government. The government said that the
disinvestment policy has been formulated
keeping in view that running and managing hotels
on professional lines is not the job of the
government or its enes.
Non‐gazeed railway staff to get 78 days of
producvity linked‐bonus, as per a Cabinet
decision taken today. This was announced by
Finance Minister Arun Jaitley.