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Friday, October 30, 2020

Sunny Verma


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

Facing credit card defaults, banks move to settle dues
Wed, Oct 28, 2020

Banks and card issuers have managed to show lower NPAs so far due to the moratorium that was valid till August 2020 — the issue of interest waiver is being heard in the Supreme Court.

To maximise liquidity for MSMEs, govt may extend credit scheme deadline
Mon, Oct 26, 2020

Banks have sanctioned 62.52 per cent of the targeted Rs 3 lakh crore under the ECLGS for stressed MSMEs, while disbursements were at 45.38 per cent of the total amount as of October 5, up from 47.7 per cent sanctions and 32.9 per cent disbursements recorded as on August 12.

Centre waives compound interest on loans up to Rs 2 crore: How will the cashback work?
Sun, Oct 25, 2020

Loan cash back scheme: A borrower with a Rs 50 lakh home loan outstanding, for example, will get a benefit of around Rs 12,425 in the form of savings on accounts of compound interest for a six months period, assuming the rate of interest at 8 per cent.

Late-Stage Trials: ‘Committed’ to mass vaccination, govt yet to finalise fund allocation
Fri, Oct 23, 2020

With various vaccine candidates progressing to late-stage human trials here, some experts feel the cost that the Centre will bear may become clearer by early 2021.

Monetisation of idle land: Railways, Defence, BSNL in line
Thu, Oct 22, 2020

Sources said that after a detailed assessment of surplus land assets, various ministries are now ready to go ahead with monetisation of idle parcels for commercial development and infrastructure creation.

Govt targets Rs 1 lakh crore spend by March-end, announces new LTC voucher, festival advance
Tue, Oct 13, 2020

But experts say demand impetus will be small, need bigger stimulus

Explained: Here’s what the Centre has proposed in its LTC scheme
Mon, Oct 19, 2020

LTC cash voucher and festival advance scheme: The measures announced by the government are projected to create “additional demand” of Rs 1 lakh crore in the economy.

Path to revival: Many indicators linked to consumption regain pre-Covid levels
Mon, Oct 12, 2020

Data shows that in September, demand for fuel and electricity — among the major indicators of economic activity — too surpassed February levels.

Credit guarantees to MSMEs: Private banks sanction more than PSBs for 1st time since launch of scheme
Thu, Oct 08, 2020

As of September 29, 12 public sector banks, 24 private banks and 31 non-banking financial companies (NBFCs) sanctioned Rs 1.86 lakh crore under the scheme, of which Rs 1.32 has been disbursed to 27.09 lakh borrowers, government data shows.

Explained: How your EMIs are affected by the govt waiver on levy of compound interest
Sat, Oct 10, 2020

If you had a loan outstanding of Rs 50 lakh for a remaining term of 19 years (228 months) at the beginning of the moratorium period and your interest rate was 8 per cent, the interest cost for the six-month period of the moratorium will come at close to Rs 2 lakh. This will have to be paid.

Restrictions on Defence Ministry spending removed
Fri, Oct 02, 2020

In its latest set of cash management measures, the government has removed spending curbs on defence services and fertilisers, while retaining the restrictions for most other categories.

Chinese investment pacts, private JVs invite Govt scrutiny
Wed, Sep 30, 2020

The priority, the sources said, will be vetting documents and agreements of companies in the information technology and finance sector. The scope of the probe will, however, be expanded in time to cover other strategic and non-strategic sectors.

NK Singh: Federalism desirable for India; concurrent list, 7th Schedule and Article 282 require holistic review
Wed, Sep 30, 2020

He said the Commission, in the backdrop of Covid-19 pandemic and its impact on the economy, is debating whether there is a need for a different approach in determining the targets for fiscal deficit and debt consolidation.

Explained: Why did the RBI postpone the MPC meeting?
Mon, Oct 05, 2020

Monetary Policy Committee is the statutory committee that fixes the key policy interest rate and monetary policy stance of the country as well as the inflation target.

No govt nominees yet, RBI monetary panel meet put off
Tue, Sep 29, 2020

The MPC is a statutory committee that fixes the key policy interest rates and monetary policy stance of the country as well as the inflation target.

Time for forbearance, not rigid adherence: N K Singh on FRBM
Sun, Sep 27, 2020

The Commission is also debating whether the government should follow a particular “range” on issues of fiscal deficit and debt levels, instead of the “fixed point” targets currently prescribed.

Explained: How NHAI plans to monetise its highways through InvITs
Tue, Sep 22, 2020

NHAI's InvIT will be a Trust established under the Indian Trust Act, 1882 and SEBI regulations. The InvIT Trust will be formed with the objective of investment primarily in infrastructure projects.

Explained: Is this the right time to invest in gold?
Sun, Sep 27, 2020

Prices rose steadily for over a year, and gold gave good returns. It is advisable to invest on a periodic basis through gold bonds. Many experts feel gold will continue to be strong for some time now.

Lok Sabha passes Bill to bring cooperative banks under RBI supervision
Thu, Sep 17, 2020

While the Bill seeks to bring cooperative banks under the supervision of the RBI, Finance Minister Nirmala Sitharaman asserted that the proposed legislation does not mean regulation of cooperative banks by the central government.

Mudra loan disbursals & NPAs rise in tandem at PSBs over last 3 years
Thu, Sep 17, 2020

Mudra loan disbursements by state-owned banks rose to Rs 3.82 lakh crore in 2019-20, from Rs 3.05 lakh crore in 2018-19 and Rs 2.12 lakh crore in 2017-18. NPAs as a percentage of total loans rose to 4.92 per cent in 2019-20 from 3.42 per cent in 2017-18.

Rural distress looms: dip in crop prices, remittances; rising Covid cases
Sun, Sep 13, 2020

While the over 3% agriculture growth in the first quarter factored in strong Rabi procurement, with high-price realisations getting reflected in the output numbers, fresh data from mandis indicate a slide in the prices of the intercrop produce — horticulture, milk and poultry etc.

Explained: What RBI expert panel recommends for one-time loan recast
Sun, Sep 13, 2020

The Kamath committee noted that corporate sector debt worth Rs 15.52 lakh crore has come under stress after Covid-19 hit India, while another Rs 22.20 lakh crore was already under stress before the pandemic.

Money market stabilises, NBFC fundraising is up 15 times in four months
Wed, Sep 09, 2020

NBFCs, however, say that while short-term liquidity has gone up significantly in July and August, it won’t result in credit flow in the economy.

Rate cuts on existing loans much lower than fresh credit, PSBs outdo private banks
Mon, Sep 07, 2020

Data from the RBI shows that in the 15-month period, the weighted average lending rates on outstanding rupee loans has come down by only 53 bps or almost one-fifth of the cut in repo rate — the rate at which the RBI lends to commercial banks.

Decks cleared for Nifty’s Singapore trades to move to Gift City in Gujarat
Fri, Sep 04, 2020

KYC, due diligence eased for Singapore, Indian regulators to share information