In India, there is an unmet market need for such products. Why can’t it come in the category of another financial product aimed at a niche audience?
The inability of the economy to generate employment opportunities for millions of Indians is developing into a serious social, economic and political issue.
Jaypee Infratech Ltd, a group company of Jaiprakash Associates, is already being pursued in the bankruptcy court over loan defaults.
The latest GDP figures prove that the economy has taken a battering because of the hasty implementation of GST.
Despite the fears of the public over the ‘bail-in’ clause, the FRDI Bill is an impending necessity in the context of global financial reform.
The amount surpasses the bank’s second quarter net profit of Rs 1,581.55 crore.
A strange picture of India’s financial system is being drawn, where privatisation is being pushed even as critical analysis and reporting on private sector entities is slowly being discouraged.
Banking sources say the account will be declared an NPA if the telecom firm misses another interest payment by December 31.
Unexpected November rains, rising crude oil prices and higher raw material costs due to GST caused prices to rise, say economists.
The decision to stand pat was widely expected after the annual rate of consumer inflation increased in October to 3.58%, driven by higher food and crude oil prices.
Rising prices, party due to the GST, caused both foreign and domestic demand to drop.
A new ordinance will stop a majority of promoters from bidding for their own stressed assets, but may result in lower revenue for lenders.
As India Rushes Towards Digital Money, Are We Doing Enough For the Elderly and Those With Disabilities?
A recent RBI circular reminds us that digital banking, welcome as it is in the overall context, does not benefit all sections of society equally.
We must have an exhaustive investigation of every minute aspect of this whole disastrous experience. This includes a government-led comprehensive one, resulting in a white paper or report tabled in Parliament.
The former RBI governor, hesitant about appearing politically partisan, has apparently agreed to consider the Delhi chief minister’s offer.
While digital transactions have started ebbing, with cash remaining king in the real estate sector, what has been hit are new investment proposals and the informal economy in general.
Analysis using Milton Friedman’s theory shows India’s GDP growth is likely to crawl back to its long-run level. However, we cannot deny the loss in interim GDP because of demonetisation.
For most of the past ten years, the economy has been suffering because of the unrelenting regime of very high real rates of interest that the RBI has imposed.
The way the Banks Board Bureau has been allowed to function so far does not create much hope for reforms.
The central bank thus dismissed reports claiming it was not necessary to link national identity card numbers to bank accounts.
While the cash crunch and increased prices due to GST have led to a sharp decline in demand, repeated appeals of traders to the Centre have failed to evoke a response.
Now that the government has stepped in to bat for BJP president Amit Shah’s son, it should clear up questions about Rajesh Khandvala’s KIFS – with which he has had business dealings.
A recent hike in house rent allowances for government employees, coupled with staggered price hikes by firms adjusting to GST, may have contributed to price rises.
The total stressed loans of the banks – including non-performing and restructured or rolled over loans – rose 4.5% in the six months to end-June.
An RBI survey found that 40.7% of people in metropolitan areas think the economic situation has worsened, up from 25.3% in the same period last year.
Solutions involve either an immediate fiscal or monetary stabilisation policy, or pushing through further supply-side structural reforms.
The RBI also kept the reverse repo rate unchanged at 5.75%.
Although Roopa Kudva quit the bank transparency body in July 2017, there has been no public intimation of this development.
Last month, the SEBI had directed listed companies to disclose from October 1 any payment defaults to banks and financial institutions within one working day of such a miss.
With the government planning a fiscal push, it is likely that the central bank will be concerned with price stability and not rate cuts in its October policy meeting.
More than a fifth of large companies did not earn enough to pay interest on their loans and the pace of new loans fell to the lowest in more than six decades.
The consumer price index rose 3.36% in August from a year earlier, compared with 2.36% in July.
The process is “going on in full swing” with most RBI offices working in double shifts and with the help of high-end verification machines, the central bank said.
The price of demonetisation’s “success” is now clear – slowing economic growth. What makes matters worse is that India has made very little headway in solving its twin balance sheet problem.
Former RBI head says he warned of the potential pitfalls if preparation was not adequate, concludes that demonetisation has not been an “economic success”.
Vinod Dua discusses the latest RBI data on demonetisation and appeals to the prime minister to apologise to the public.
Former finance minister P. Chidambaram also questioned the Narendra Modi government whether its demonetisation decision was designed to convert black money into white.
Roughly 89 million of the 6.7 billion Rs 1,000 notes in existence were not deposited following demonetisation and still remain in circulation.
At Rs 128807.81 billion, liquidity is now at an all time high. This rise has to be absorbed to keep inflation in check.
Customers with savings bank account balance of Rs 50 lakh and above will continue to earn interest at 4% per annum.