Categories
Business

67 Indian bank accounts under scanner for embezzlement

Brazilian authorities had requested India to freeze these 67 bank accounts in which funds linked to a provincial governor have been transferred

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Economy

RBI wants govt to cut its stake in PSU banks to 26%

Several government committees and the RBI have recommended that India should have not more than five state-owned banks

Categories
Economy

6 बैंकों के निजीकरण की तैयारी, सिर्फ 5 सरकारी बैंक रहेंगे

आरबीआई के अनुसार, सितंबर 2019 तक सरकारी बैंकों पर 9.35 लाख करोड़ का बैड लोन था, जो उनकी कुल संपत्ति का 9.1% है

Categories
Economy

1,540 cooperative banks to be brought under RBI supervision

New dispensation, the appointment of CEOs in such cooperative banks will now require prior approval from the regulatory authority- the RBI

Categories
Economy

Economy will shrink 5% in FY21, stimulus not enough: S&P

Fitch and Crisil had projected a 5% contraction of the Indian economy too; Moody’s forecast a shrink by 4% and the World Bank by 3.2%

Categories
World

Vijay Mallya: Extradition delay due to ‘confidential issue’

Vijay Mallya is accused of defrauding a consortium of Indian banks by close to Rs 9,000 crore and faces charges of money laundering

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Economy

Loan moratorium extended: Here’s how to avail the facility

ICICI Bank said loans availed from 1 March, 2020 to 31 May, 2020 are not eligible for the moratorium, since they have been availed

Categories
Business

Cardless cash withdrawal from ATM to prevent COVID contraction from fomites

In order to avail the cardless cash withdrawal facility, customers are required to download the respective bank’s mobile app

Categories
Editorial

Reforms By Modi Run Into Tired Socialist Criticism

The motley group of right-thinking Indians in this socialist society should not only promote the reforms announced last week but also push every Indian government and political party towards better economics

Categories
Economy

Rajan flags ‘greatest economic emergency’ since Independence, hints he wishes to return

Economist and former RBI governor Raghuram Rajan wrote a long note on his LinkedIn page, advising the Indian government how to tide over the coronavirus pandemic-hit economy