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Sunday, August 09, 2020

Sunny Verma


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

Explained: RBI’s new loan recast scheme
Sun, Aug 09, 2020

The RBI has cleared a loan restructuring scheme for borrowers under stress because of the pandemic. How will the scheme work, and what safeguards are in place to prevent misuse?

Explained: Why the RBI has left interest rates unchanged
Sun, Aug 09, 2020

The RBI monetary policy review has kept interest rates on hold, contrary to broad market expectations. A look at how concerns around inflation and growth led to this decision, and other key highlights.

MSME boost: credit line for individual entrepreneurs too
Sun, Aug 02, 2020

The scheme, which provides additional 20 per cent collateral-free credit, will now cover individual loans given for business purposes.

Give one-time recast to all borrowers: RBI’s Central Board director
Sat, Aug 01, 2020

Satish Marathe, director at the RBI’s Central Board, has also called for government to reduce its holding in state-owned banks to 26 per cent and not go for privatisation of the banks.

COVID-19 disrupts govt’s sell-off plans
Fri, Jul 31, 2020

The Market disruption caused by the Covid-19 pandemic has forced the government to extend bid deadlines multiple times for its showpiece privatisation programmes of BPCL and Air India, while stake sale of other state-owned companies are also facing delays.

RBI may allow one-time loan recast in construction & real estate, tourism and aviation
Thu, Jul 30, 2020

Sectors such as tourism, hospitality and real estate have been seeking this relief to tide over the business slump resulting from effects of COVID-19 pandemic induced economic downturn.

Deepak Parekh, Uday Kotak push for one-time restructuring of corporate loans
Tue, Jul 28, 2020

The RBI had announced a three-month moratorium on repayments in March to help borrowers tackle the impact, especially lockdown, of the Covid-19 pandemic.

Two months into MSME credit scheme, 43% of Rs 3 lakh crore sanctioned
Mon, Jul 27, 2020

Two months after the launch of the scheme, cumulative loan sanctions have risen to Rs 1.30 lakh crore from Rs 1.10 lakh crore on July 1, with both private and state-owned banks stepping up credit deployment, according to most recent data.

Explained: How the new public procurement restrictions target China
Sun, Jul 26, 2020

The government has been taking a series of measures in recent months to restrict the inflow of Chinese investments and products into the country.

Amid rising bad loans, losses and COVID disruption, bank staff to get 15% salary hike
Fri, Jul 24, 2020

Bank managements and unions have agreed to introduce the system of performance-linked incentive (PLI) in public sector banks for the first time.

Govt tightens bidding regulations for border countries (read China)
Fri, Jul 24, 2020

India shares its border with China, Nepal, Bhutan, Pakistan, Bangladesh and Myanmar. As per official data, out of these, the government has extended lines of credit to Bangladesh, Nepal, Myanmar, exempting them from the new order.

Explained: Here is how banks will roll out their 15% salary hike
Mon, Jul 27, 2020

PSU bank employees salary: The wage hike will benefit employees of old generation private banks and some foreign banks as the agreement has been signed by 11 state-owned banks, 12 private sector banks and seven foreign banks.

Explained: What is the government’s new policy on the strategic sector?
Thu, Jul 23, 2020

The government has already set in motion privatisation plans for large PSU companies BPCL, Air India, Container Corporation of India, and Shipping Corporation of India.

Debt monetisation: Indonesia plans to buy $40 billion in sovereign bonds, FinMin says open to concept
Wed, Jul 22, 2020

Sources said the Centre is preparing the next set of measures that would be required to support economic activity. These measures are likely to be announced from beginning of September.

‘Centre can fund deficit at lower rates through direct monetisation’
Tue, Jul 21, 2020

Under monetisation, the Centre can raise funds directly from the RBI via issuance of “COVID perpetual bonds” or such instruments.

Explained: How the government can arrest India’s GDP slide by funding its deficit
Tue, Jul 21, 2020

The SBI’s economics research team report has suggested the government raise funds directly from the RBI, through issuance of “Covid perpetual bonds” or such instruments.

PMO continues meetings with FinMin: E-comm policy, status of economic package on the agenda
Fri, Jul 17, 2020

Prime Minister Narendra Modi is learnt to have met Finance Minister Nirmala Sitharaman on Thursday, the second meeting this week, to take stock of the economy.

PMO meets NITI, FinMin officials; Centre assessing ways to boost non-tax revenues
Wed, Jul 15, 2020

In the backdrop of the steep economic contraction expected in the April-June quarter, the government is trying to assess its revenue position, how it can be augmented and what more will be required to support economic activity in these uncertain times, sources familiar with the matter said.

Explained: Why is Yes Bank launching an FPO?
Thu, Jul 16, 2020

Yes Bank FPO tomorrow: Spurt in NPAs and consequent provisioning has led to Yes Bank breaching the capital adequacy requirements as mandated by the Reserve Bank of India.

Explained: What is a bad bank, and why is a proposal to set it up being floated?
Fri, Jul 10, 2020

The banking sector, led by the Indian Banks Association, had recently submitted a proposal for setting up a bad bank to the finance ministry and the RBI.

Explained: You have till tomorrow to invest in gold bonds, but should you?
Thu, Jul 09, 2020

There are several questions involved: Why are gold prices rising? Is it a good idea to buy at this price? Can the price crash?

Rule change to help over 270 stressed cos raise funds, restructure finances
Tue, Jul 07, 2020

On June 22, Sebi eased its preferential allotment rules to help stressed companies raise capital, changed the pricing formula to reflect recent prices and exempted such companies from the open offer requirement.

Similar entities already available, govt may relook Credit Guarantee Enhancement Corporation plan
Mon, Jul 06, 2020

Credit enhancement entities aid in augmenting the credit ratings of bonds of certain above-investment grade operational infrastructure projects, improving their attractiveness to institutional investors, by proving partial or full credit guarantees.

Govt’s new MSME push: Providing credit to individual entrepreneurs
Sat, Jul 04, 2020

Under the ECLGS scheme, banks are offering up to Rs 3 lakh crore of government-guaranteed loans — an extra 20 per cent of outstanding loans to their MSME borrowers that are non-NPA.

Over Rs 3 lakh crore dues, IBC changes add to MSMEs’ liquidity woes
Tue, Jun 30, 2020

Even as government departments have started clearing up dues of MSMEs with the Finance Ministry stressing timely clearance of funds, many micro and small firms are stuck with pending payments of more than Rs 3 lakh crore with large firms with no easy legal recourse.