Sunny Verma

Sunny Verma is a Senior Assistant Editor with The Indian Express and writes on economy and finance.

Articles By Sunny Verma

Moody’s cites jobs, rural stress to cut ratings outlook to negative from stable

While Moody’s has maintained the country ratings and only lowered the outlook, it still poses risks of capital flight unless the government improves its fiscal health materially through aggressive stake sale in state-owned companies.

Explained: Moody’s cuts India outlook to negative. What does it mean?

Moody's cuts India outlook to negative; government says India among fastest growing major economies in the world.

For faster resolution, NBFCs to be brought under IBC purview

The notification will allow existing consortium of lenders and the existing resolution professional to take the financial service provider or the NBFC to the NCLT and seek a resolution plan that is binding on all parties.

About 40 per cent stalled units to benefit from special window, say analysts

Industry insiders say the special funding window may help completion of around 40 per cent of nearly 5 lakh housing units that currently stand stalled.

Rs 25,000-crore fund to help complete stalled housing projects: Govt

Only for net worth positive projects, those classified as NPAs, before NCLT.

IBC-PMLA deadlock: Govt plans system for smooth resolution

The recent attachment of Bhushan Power & Steel Ltd’s (BPSL’s) assets by the Enforcement Directorate (ED) has created fresh doubts among bankers for using the IBC.

Rising NPAs: Banks’ exposure to unrated loans increased threefold in three years

While the proportion of unrated loans to total loans has stayed constant at around 40 per cent in last four years, NPAs in unrated exposures have surged steadily each year.

Deposit Insurance: In 11 years, insured deposits’ share of total value falls from 60% to 28%

While depositors holding less than Rs 1 lakh of deposits in a bank are covered by the deposit insurance, depositors holding more than Rs 1 lakh in an account have no legal remedy in case of the collapse of a bank.

Uptick in asset creating capex, but spend on social sector takes a hit

While economic growth in the state has steadily declined after an initial boost during the first year of the present government, the state’s fiscal performance has improved over the years.

Surge in external debt adds to worry over oil price hike

The growth in external debt over the last one year is the highest seen in the last five years since the 11.8 per cent growth recorded in June 2014.

Govt roadmap to recoup loss from tax cuts: Sale of land, stake in firms

The reduction in corporate tax rates is set to cost Rs 1.45 lakh crore annually. The government has maintained that it would keep its fiscal deficit target of 3.3 per cent of GDP by March 2020.

Give us your SC/ST numbers: Govt to firms under EPFO

Through this month, regional provident fund offices have been sending out queries in a specified format to companies seeking “employment data of the proportion of SC & ST employees in total employment”.

Big-bang India Inc.entive: Historic step, will attract global pvt investment, says PM

The government further announced a rollback back of the higher surcharge on capital gains on sale of equity shares announced in this Budget for individuals, HUFs, Association of Persons (trusts).

Lower taxes likely to revive investment, but govt may find managing fiscal deficit tougher

When asked about the impact of the measures on the fiscal deficit, Finance Minister Nirmala Sitharaman said the government is conscious of the impact and expects the economic buoyancy resulting from these changes to generate significant resources.

Real Estate: Housing fund to provide equity, debt support to stuck projects

While the projects that have not turned into non-performing assets and are not under NCTL will benefit, analysts note that most stressed projects will not get any funding support.

Regulation of non-personal data: MeitY sets up new committee

Elaborating further on community data, the committee argued that “degree of involvement of larger community in building the body of data” challenges the notion of “individual control over personal data”, the Ministry said in its order.

State-owned banks step up NPA sale to ARCs to clean balance sheet

PSBs have put up nearly Rs 10,000 crore worth of bad loan assets for sale to ARCs since July, more than double of total bad debt of Rs 4,000 crore that was sold to ARCs in April-June.

RBI panel: Liquidity crisis a blip for HFCs; long-term growth still intact

Home loans are most lucrative credit product for banks and HFCs with low levels of non performing assets (NPAs) recorded in this segment.

RBI panel to firm up mechanism for assessing adequacy of forex reserves

An internal group of the Reserve Bank of India is expected to study how much reserves are adequate to cover various risks.

Post FM Sitharaman’s countrywide discussions with corporates & taxmen, fresh measures likely

The government will hold more such deliberations in different cities to understand sectoral issues faced by various sectors, a senior Finance Ministry official said.

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