Sunny Verma

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

Articles By Sunny Verma

RBI governor Urjit Patel resigns: Concern in markets, all eyes on who succeeds him

Naushad Forbes, co-chairman, Forbes Marshall and former CII president, said, “It is unfortunate and it comes across as a consequence of his disagreement with the government."

Real interest rates must come down to boost growth: Sanjeev Sanyal

In an interview with The Indian Express, the Principal Economic Adviser in the Finance Ministry spoke on a range of issues.

Finland favours rules-based multilateral trade regime: Finland’s trade minister

Finland’s Minister for Foreign Trade and Development, Anne-Mari Virolainen, said the Nordic country favours a rules-based multilateral trade regime and hoped that the trade agreement between India and the European Union will be finalised.

Under fire, NITI Aayog says was told to look at GDP back series data

Many economists have  questioned the NITI Aayog’s role in the release of the statistical  exercise of CSO, which comes under the Ministry of Statistics and Programme Imple- mentation (MoSPI).

NITI Aayog VC Rajiv Kumar: ‘New GDP data based on facts, more in sync with UN System’

“There is no reason for anybody to cast any aspersions on it. And the CSO staff is not political set of people, they are professionals,” Rajiv Kumar said.

Banks under PCA: Out of 11 lenders, four report improvement in profits

Oriental Bank of Commerce, Corporation Bank and Bank of Maharashtra showed improvement in their profitability; IDBI Bank, Uco Bank, Dena Bank and Allahabad Bank reported marked deterioration in profitability and NPAs.

After MSME, Govt will flag real-estate sector stress to RBI

After red-flagging shrinking credit to MSMEs, the government is likely to underline — at the RBI’s Central Board meeting on December 14 — the stress in the real estate sector.

Committee on RBI reserves in a week

The committee may have members from outside the government and the RBI to look into these issues, sources said. The composition of the committee will be decided jointly by the finance ministry and the RBI.

Restrictions on banks: RBI and govt work to narrow their gap

The RBI board is slated to meet on November 19. The central bank is expected to provide some breathing space to state-owned banks by allowing early exit from PCA for those banks that show trend reversal in their net non performing assets (net NPA)

RBI, govt near consensus on norm changes to boost MSME credit

Specific relaxation in RBI regulations likely to provide breathing space to firms

Two years of demonetisation: Recovering from note ban shock, MSMEs now face NBFC credit choke

The RBI data shows that loans by NBFCs to MSMEs grew at an annual average rate of 35 per cent during the last five years. However, the current liquidity squeeze that the NBFCs are going through, has reduced the credit flow to the MSME sector.

Govt wants Rs 3.6 lakh crore from RBI, a third of its reserves, central bank says no

Last Wednesday, the finance ministry said that the autonomy for the RBI “is an essential” and both the government and the RBI have to be “guided by public interest and the requirements of the Indian economy”.

Amid cash squeeze, PMO calls meeting of banks

Over the last few weeks, several representatives from NBFCs and HFCs have met officials in the finance ministry raising concern over banks not extending credit to them.

Sector Watch: ‘Govt working on measures to ease NBFC cash crunch’

‘Working with RBI to align capital adequacy norms global practices’

NBFC liquidity under stress, govt plans early capital infusion

Sources familiar with the discussions said the Department of Financial Services (DFS) is working closely with top officials in the Finance Ministry to prepare the plan, which is likely to be presented at the level of the PMO.

Liquidity crunch to intensify: NBFCs face redemptions of up to Rs 1 lakh crore in November-March

Unlike banks, NBFCs do not have access to low-cost public deposits and have to heavily rely upon commercial paper and commercial debt markets.

Cash-strapped PNB invests Rs 50 crore into shipbuilding firm

PNB suffered net loss of `13,416 crore in January-March quarter in FY18 and `940 crore in April-June quarter of the current fiscal.

RBI against independent body, wants Guv as chairperson with casting vote

Govt panel wants ‘person appointed by govt’ as chairperson; stand against Finance Act, 2017: RBI

RBI wanted to pull out nominees from public sector bank boards, Govt says no

The government is also not receptive to the idea of granting additional powers to the RBI over regulation of public sector banks, as it feels the central bank already enjoys sufficient powers, the sources said.

Appellate Tribunal order: NCLAT grants interim relief to IL&FS against creditor actions

IL&FS has an aggregate debt of Rs 91,000 and has been defaulting on its debt obligations since last month, putting the credit markets in a downward spiral.