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FINANCIAL NEWS IN A NUTSHELL

Yatheendradas C.k. at 08:16 AM - Jan 16, 2019 ( ) Views: 89

The Government is not worried over
delinquencies in Mudra Yojana, its
flagship scheme for promoting
entrepreneurship and small businesses as
most of the loans are securised. Financial services secretary Rajiv Kumar
told that small borrowers are far more
responsible and responsive than
large corporate borrowers. -Economic Times


The Union Cabinet in its meeting
scheduled on Wednesday is likely to
consider fund infusion in Exim Bank,
sources said. The meeting, headed by PM
Modi, may take up a host of issues
including a capital infusion of Rs 500
crore in Exim Bank, sources said. The
Government infused Rs 500 crore in Exim
Bank last financial year. -Business Line


In the wake of the IL&FS crisis, there is a
need to review the role of rating agencies
as they connued to rate the NBFC at top
notch investment grade even a day
before it defaulted on its payment
obligaon, a top Finance Ministry official
said. -Business Line


The RBI said it has imposed a monetary
penalty of ₹1 crore on Bajaj Finance for
violaon of Fair Pracces Code applicable
to NBFCs as outlined in its master
direcons for NBFCs, the central bank
said in a statement. -Business Line


The Syndicate Bank has created a
separate vertical comprising around
1,200 of its exisng staffers to recover its
NPAs amounng to around Rs 27,000
crore, said officials today. -Business Line


ICICI Bank Monday inducted former SBI
MD B Sriram on its board as independent
director. Besides, management
consultant Rama Bijapurkar was also
appointed director. Both were appointed
for 5 years, subject to the approval of
shareholders, ICICI Bank said in a
regulatory filing on stock exchanges. Sriram rered as the MD of IDBI Bank in
September 2018. Prior to IDBI Bank, he
was the MD of SBI. -Economic Times


Exports grew marginally by 0.34% to $
27.93 billion in Dec 2018 on account of
negave growth in sectors such as
engineering and gems & jewellery,
according to commerce ministry data.
Imports, however, dipped by 2.44% to $
41 billion during the last month,
narrowing the trade deficit to $ 13
billion.The trade deficit stood at $ 14.2
billion in December 2017. -Business Line


Job security irrespecve of performance
is the aracon of government jobs,
Railway Minister Piyush Goyal said,
adding that the sheer volume of those
who apply for such jobs should not be
seen as lack of other job opportunities in
the country. -Business Line


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