This data was presented in a report of the Committee on Real Sector Statistics, which was submitted to the National Statistical Commission recently. The data shows that the only year India grew in double digits was 2006-07 when growth touched 10.08 per cent.
Loans extended by NBFCs to MSMEs grew rapidly — at an annual average rate of 35 per cent — between December 2015 and March 2018. The divergent experiences of banks and NBFCs in terms of asset quality explains the difference in credit growth, the paper said.
Thursday, Cochin International Airport Ltd (CIAL) announced suspension of operations till August 26, leading to flight cancellations. This prompted airlines to start special flights to nearby airports including Thiruvananthapuram.
A bench led by Justice R F Nariman said that ‘it is open to the state government to argue on maintainability after which the tribunal will give a finding on both maintainability and merit’. The matter is listed before NGT on August 20.
“In order to gauge the magnitude of the loss, all non-life insurers (including standalone health insurers) are advised to submit information relating to insurance claims in Kerala on a daily basis,” Irdai said.
Financial creditors, such as banks, have managed to recover Rs 47,768 crore, or a little over 55 per cent of their claims, showed the data by insolvency regulator, compiled on the basis of the inputs provided by resolution professionals (RPs).
In the last MPC meeting held on August 1, five out of the six members voted for a 25 basis points increase in the Repo rate to 6.50 per cent and for retaining the Reserve Bank of India’s neutral policy stance amid various uncertainties on the growth and inflation fronts.
On August 1, the Union Cabinet a deal to allow Life Insurance Corporation (LIC) raise its stake in IDBI Bank to 51 per cent. The government argued that the deal will help IDBI Bank come out of the PCA framework.
Market intermediaries will have to capture and upload details in the e-bidding system as specified by the stock exchange. The SCSBs or intermediaries will have to provide guidance to their investors on making applications in public issues.
NPCI was set up by the RBI and Indian Banks’ Association (IBA) under the provisions of the Payment and Settlement Systems Act, 2007, for creating a robust payment and settlement Infrastructure in India.
The Indian rupee on Tuesday plunged below the 70 level to hit a record low of 70.08/09 against the dollar as the currencies of emerging markets witnessed a rout, triggered by the crash in the Turkish lira.