Banks Companies Indian Subcontinent Industries Market

Indian banks written off Rs 2,38,000 Crores in 2020 : RBI

India’s financial sector should brace for challenging times ahead with an increased risk of deterioration in asset quality and lower demand for loans, the Reserve Bank of India (RBI) warns in a report on Tuesday.   The RBI report also said Indian banks had written-off loans worth 2.38 trillion rupees ($32.46 billion) in the financial Read More…

Banks DMK Education Voice

SBI Arakkonam branch inhuman act against students and farmers create furore

Arakkonam branch of SBI has named and shamed the students who have taken education loans and the farmer borrowers by an act that been condemned by many ..   Arakkonam branch of SBI put outside the branch premises photos of students who have taken education loans and farmers and also put up with a question Read More…

Banks Industries Voice

RBI , Modi Government pushed unprecedented “Free of Cost” deal to DBS laments Investors and Promoter of LVB

The Reserve Bank of India (RBI) took control of LVB on November 15 due to a ‘serious deterioration’ in its finances and temporarily capped withdrawals   Then the promoter opposed unilateral merger of LVB with DSB . But Inspite of objection Modi led BJP government on Wednesday approved the merger of Lakshmi Vilas Bank (LVB) Read More…

Banks Companies Gadgets Industries Technology

Whatsapp Pay method to install and send payment Explained

Using whatsapp app sending money through WhatsApp will be as easy as sending messages to any person in contact claim its creators    To make this feature available in India, the Facebook backed messenger company closely worked with the National Payments Corporation of India (NPCI) and uses the most popular (in India) Unified Payment Interface Read More…

Banks Companies Market South India

Lakshmi Vilas Bank Collapses put under moratorium upsets account holders

The government and the Reserve Bank of India (RBI) on Tuesday put Lakshmi Vilas Bank under a moratorium that capped customer withdrawals at Rs 25,000 till December 16 after “serious deterioration” in the lender’s finances.   The limit is on a per customer basis, and not on a per account basis.   That means even Read More…

Banks Indian Subcontinent Industries Market

Dillydallying for 3 months then BJP government finally bite the SC bullet

After playing the mouse and cat game with supreme Court finally Modi led centre government on late Friday night announced waiver of interest on interest (IoI)  for loans up to Rs 2 crore irrespective of whether moratorium was availed or not.   The Department of Financial Services now finally came out with operational guidelines in the Read More…

Industries Jobs Market Opinion

Unemployment , Import Substitution, Non spending going to hit Indian economy more warns Raghuram Rajan

Former governor of Reserve Bank of India Raghuram Rajan on Wednesday was speaking at a webinar organised by the Centre for Financial Studies at Bhavan’s SPJIMR.   There he touched three below salient points and advised Modi Led BJP centre government   Alarming Unemployment In his speech he warns that if India does not create Read More…

Corona Virus Jobs Market National Opinion

22 State Respondents voted Indian economy fall is more dangerous than COVID-19

A survey conducted by the Centre for Public Policy Research states Nine out of ten respondents said COVID-19’s threat to the economy was highly severe.   This survey, which was conducted before India’s quarterly GDP was released, found that eight out ten respondents believed that the economy would remain affected for more than nine months, Read More…

Banks Indian Subcontinent Market Supreme Court

Supreme Court exasperated with Modi government attitude on RBI’s EMI moratorium

The Supreme Court on Wednesday said that the problem in the country’s economy was created due to the government’s decision to impose strict lockdown earlier this year and it was concerned about the plight of the common man.   The strict nationwide lockdown was imposed in March this year to curb the spread of coronavirus Read More…

Banks Indian Subcontinent Market

In 12 months RBI transferred 2.33 Lakhs Crores to BJP led Modi Government as dividend

The Reserve Bank of India board on Friday, August 14, again approved a dividend payout of Rs 57,128 crore to the Narendra Modi-led BJP government.   In a statement, the RBI said its central board headed by Governor Shaktikanta Das “reviewed the current economic situation, continued global and domestic challenges and the monetary, regulatory, and Read More…