Sunny Verma

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

Articles By Sunny Verma

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.

Big bank reform: 10 merged into four for scale and growth

Fund infusion in the merged entity will provide growth capital enabling the bank to enhance lending, Mehta said. Punjab National Bank will get a fresh capital infusion of around Rs 16,000 crore, the FM said.

As RBI picks lower end of risk buffer at 5.5% its think tank pegged ideal level above 16%

This resulted in Rs 52,637 crore of excess provisions identified under a revised Economic Capital Framework (ECF) adopted by the RBI board, which the RBI decided to transfer to the government along with Rs 1.23 lakh crore of surplus transfer for 2018-19.

RBI funds transfer: Govt member wanted more, Jalan panel said no

The Central government had nominated Kumar as a member of the Jalan Committee on July 30 after former Finance Secretary Subhash Chandra Garg was moved to the Power Ministry.

Govt could use RBI excess funds for big capital push in time of slowdown: Top official

Surplus funds received from RBI will not be used on the revenue account but rather to push up capital investment in the economy, the official indicated.

Arun Jaitley piloted two epic reforms: GST and bankruptcy code

A breakdown in relations with the Reserve Bank of India over the issue of the Central bank’s surplus reserves and many other issues was another blip during his tenure.

Arun Jaitley: PM Modi’s go-to man and key strategist on economic policy and legal issues

Apart from a series of measures to enhance the productivity of the Indian economy, Arun Jaitley was instrumental in bringing political consensus for a marathon legislative process and subsequent implementation of the Goods and Services Tax.

Capital infusion: Earnings being analysed to decide fund requirement

A Finance Ministry official said the government expects the capital infusion to aid lending growth, while some banks will need funds to meet minimum regulatory requirements.

‘Red’ IL&FS entities account for more than two-thirds of group’s overall debt

The progress report shows that entities classified as red and amber comprise over 87 per cent of the total outstanding debt of over Rs 89,000 crore.

Finance in talks with FPIs to provide relief from surcharge

Discussions with FPIs are currently underway and there are indications that investors impacted by the move could be extended some relief from the levy.

Shunted out, Finance Secretary Subhash Chandra Garg puts in papers the day after

A top Finance Ministry bureaucrat being moved out and seeking voluntary retirement puts a question mark on key announcements in the Union Budget 2019-20 including the planned overseas bonds.

Inter-ministerial body proposes ban on private cryptocurrencies

No country across the world treats virtual currencies as legal tender.

Overseas bonds: Major advantages in raising long term funds, says NITI VC Rajiv Kumar

Kumar says government fully aware of the risks, and that there could be exchange rate volatility.

IBC amendments get Cabinet nod; 330-day deadline for resolution among key changes

The amendments to IBC are aimed at filling critical gap in the corporate insolvency resolution framework while at the same maximising value from the resolution process, the government said.

Explained: What is the significance of the Jalan committee report?

The report of the committee, headed by former RBI Governor Bimal Jalan, was finalised on Wednesday after a meeting in New Delhi and will be submitted to the central bank “very soon”.

Dissenting voices in Govt: Surcharge on rich may well end up hurting investment

A top policy maker in the NDA government told The Indian Express that the surcharge will have the “most deleterious” impact on investments in the country and push out unicorns and discourage the inflow of high quality human capital that India was just beginning to attract.