A P2P lender is typically a fintech platform which helps lenders and prospective borrowers get in touch with each other. In India, three broad categories of fintech lenders operate.
Former chief economic advisor Shankar Acharya on Friday said that the RBI should not allow the rupee to appreciate further and time was ripe to reverse it.
The central bank had not previously disclosed its plans on cryptocurrencies and there are no details on where discussions on the issue stand. It was unclear whether the RBI plans to issue a recommendation on cryptocurrencies to the government, or if it being reviewed.
According to some media reports, there has been a growing number of investors in such currencies over the last few years, especially with the huge spurt in the value of a few of them since the Donald Trump administration came in the United States.
Thomson Reuters data, based on the latest annual earnings reports, shows India’s corporate debt rose to a seven-year high at the end of March.
Reserve Bank Deputy Governor Viral Acharya on Thursday said there’s no concrete plan for public sector banks’ balance sheets, especially in capital raising.
Former RBI Governor Raghuram Rajan said that one should not be pessimistic that good times are over but there is need to worry, especially if the rate of job creation doesn’t match the rate of new entrants in labour force.
The issue was who would bear the cost. If the government did, it would add to its borrowings. If the RBI did it, its balance sheet would turn from surplus to deficit.
Income from foreign sources fell by 35.27% from Rs 28,713 crore in 2015-16 to Rs 18,586 crore in 2016-17
The RBI retreated that it had cautioned users, holders and traders of virtual currencies about the potential financial, operational, legal, customer protection and security related risks they are exposing themselves to.
The former RBI governor cautions that “efforts to belittle the position by bringing it into the bureaucratic hierarchy are misguided and do not serve the national interest”.
Since demonetisation, quarterly growth (and hence annual growth) has settled at between 6 and 7%. The CSO numbers for Q1 of 2017-18 are worse: GDP 5.7%, GVA 5.6% and manufacturing GDP 1.2%. Is that not a catastrophic blow to the economy?
Asked about reported comments by the RSS on demonetization, the Congress leaders said the RBI figures and facts had a strange way of being “painful, truthful and undeniable”.
“Credit growth to major sub-sectors such as infrastructure, basic metal and metal products, textiles, petroleum, coal products and nuclear fuels and all engineering witnessed contraction/deceleration,” RBI said in a release at Mumbai on Thursday.
“We have been saying since day one that demonetisation is one of the biggest scams in independent India which has broken the backbone of the country’s economy. The prime minister should apologise to the nation,” AAP leader Sanjay Singh asserted.