Sunny Verma

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

Articles By Sunny Verma

India’s first Real Estate Investment Trust subscribed 2.58 times

Unlike shares, investors in a REIT get units, somewhat similar to units in a mutual fund. Embassy REIT has kept a price band of Rs 299-300 per unit, with a minimum bid lot size of 800 units.

Infra push leads to surge in bank credit, reverses 2-year trend

According to Reserve Bank of India data, bank credit outstanding to the infrastructure sector rose by over Rs 95,000 crore or 10.8 per cent between April 2018 and January 2019 to Rs 9.86 lakh crore.

$5 billion currency swap window will push down rates on high rupee liquidity

The rub-off effect of this move, along with benign inflation forecast and slowing industrial growth, will nudge the RBI Monetary Policy Committee to cut interest rates further in the policy review next month.

Going beyond mainstream, IIFCL tasked to invest in education, health infra now

IIFCL’s Non Performing Assets (NPA) as on March 31, 2018 were at 16.55 per cent, while Net NPAs were at 9.67 per cent, according to its latest available annual report.

Another three govt banks to be out of PCA soon

The Centre Wednesday announced equity infusion of Rs 48,239 crore in 12 public sector banks in this fiscal to help them maintain regulatory capital requirements and to provide growth capital to better performing banks.

Centre to set up umbrella SPV to fund metro projects

In the Union Budget 2018-19, Finance Minister Arun Jaitley had proposed the idea of streamlining the Centre’s contribution in equity and debt of the metro ventures floated by state governments.

Delayed filing of returns: Rs 4,172 crore late fee collected since GST launch

Fee for late filing of returns is Rs 25 per day for CGST and an equal amount under State GST.

Ruchir Sharma: ‘Very difficult for a person to dominate in India, given it’s heterogeneity, diversity’

Ruchir Sharma, said that while in 2017, the conventional wisdom was that India will be ruled by BJP for the next foreseeable future, the mood has shifted since Gujarat elections and bypoll results.

A costly short-term borrowing: Dip into small savings

The NSSF collects funds through small savings schemes, such as Post Office Savings Account, National Savings Time Deposits, National Savings Recurring Deposits, National Savings Monthly Income Scheme. It is a costlier form of borrowing for the government as compared to market loans.

‘Direct tax rebate was chosen to benefit most deserving taxpayers’

We are able to see an increase in the average monthly revenue trend. In the last few months, we are seeing a higher revenue trend. So we are able to get an idea.

Farm income support a major policy shift: Economic Affairs Secretary

The policy for supporting farmers have moved from growth itself taking care of farmers, to interventions like farm subsidies and Minimum Support Prices, and now to direct income support, Garg said.

On fiscal roadmap, not left with large amount that needs consolidation: Economic Affairs Secy

The government presented it as an interim Budget, but it had the substance and feel of the full Budget.

The Hawk Blinks: Government gives fiscal deficit target a miss

Finance Minister Piyush Goyal said the government is confident of sticking to the fiscal consolidation roadmap as high growth will help in raising tax revenues.

As over half cases go beyond IBC deadline, SBI loan auction move raises fresh questions

While SBI did not state the reasons for its planned loan sale through e-auction outside the IBC driven recovery, sources says delays in resolution under the bankruptcy law, along with clogged pipelines at various NCLT (National Company Law Tribunal) benches, are perhaps encouraging banks to look for outright sale.

Ahead of interim budget, finance ministry asks RBI: How much dividend can you transfer?

One of the contentious issues in the conflict between the government and the RBI under Urjit Patel was the size of the central bank’s reserves, which at Rs 9.6 lakh crore was then perceived as being excessive by the government.

IBC delays, capital needs push SBI to auction Essar Steel loans

As against that estimated recovery, SBI has kept the reserves price for sale of its Essar Steel exposure at Rs 9,587.64 crore above which buyers will have to bid on January 30.

Fund infusion to Exim Bank comes amid deteriorating assets quality

With the government facing financial constraints, the fund infusion is being done through issuance of recapitalisation bonds, on the lines of similar bonds being issued for capital infusion in public sector banks.

Farmers package in the works: Income support scheme and interest-free loans

As there are 21.6 crore small and marginal farmers — most of whom are not in a position to repay the loan or put collateral — such a scheme is the only way to support their fund requirements, apart from ensuring market prices for their produce.

As sanctions increase, Mudra loan NPAs nearly double during 2017-18

Interest rate on these loans ranges from 8-12 per cent. Apart from PSBs, private banks, micro-finance institutions and other member lending institutions also grant Mudra loans.

PNB resolves: National anthem will be played at every Annual General Meeting

The Securities and Exchange Board of India and Reserve Bank of India rules do not require companies or banks to play the national anthem at AGMs and EGMs