The government last week pledged relief to the poor and the vulnerable – from BPL families, Jan Dhan account holders and construction workers to organised-sector employees — and announced a package of Rs 1.7 lakh crore.
The government also believes that the biggest consolidation exercise in the public-sector banking space—the amalgamation of 10 PSBs to create four larger lenders with scale – from April 1 will support the credit appetite
The secretary has also asked for adequate steps to ensure smooth interstate movement as well as supply of goods and services — especially for e-commerce and food processing — and smooth functioning of their delivery agent
Bankers have already told the government that, given the enormity of the crisis, bad loans will spike if NPA norms are not suitably relaxed, and even good accounts will turn bad, according to industry sources.
The coronavirus outbreak has threatened a nascent recovery in India's exports, which had risen almost 3% year-on-year in February after a sixth straight month of fall and now stare at a contraction in FY21.
The government had in October 2019 announced its intention to bring in the distribution formula, stung by an NCLAT order that had trimmed financial creditors’ share of the recovery in the Essar Steel case from 90% to 60%, a
Irani has also pitched for correcting a crippling indirect tax structure in the man-made textiles segment, in which GST rates are high at the raw material stage and the ITC (input tax credit) process takes time, acceding to a
In a move that could disprove the perception that India’s trade policy has lately tilted towards protectionism, the government has stepped up efforts to forge “balanced” bilateral free trade agreements (FTAs) with some
In an interview to FE, Sanyal asserted that the listing of LIC, touted to be the mother of all initial public offerings in India, will lead to greater transparency and governance at the insurance behemoth, as the market has i
The finance ministry will also apprise the board of various budget proposals critical to the financial system, including the need for the regulator to extend the loan re-structuring scheme for MSMEs by a year to March 2021.
The Budget has proposed that the limit of asset size of NBFCs to be eligible for debt recovery under the Sarfaesi Act be reduced from the existing Rs 500 crore to Rs 100 crore or loan size from Rs 1 crore to Rs 50 lakh.