The better way to address the problem was to have left it to lenders to decide which customers would be eligible for the repayments holiday.
Category: RBI–Banks
Rajan urges government to invite experts to deal with economic impact of COVID-19 – The Economic Times
Former RBI governor Raghuram Rajan has suggested to the government to call people with proven expertise and capabilities, including from opposition parties, to deal with
India reassures banks of capital infusion: Sources – The Economic Times
India has assured state banks it is ready to provide capital support as the coronavirus pandemic may lead to a surge in bad loans when
Centre tweaks rules to make inactive accounts functional – The Hindu
Aims to ensure cash transfer under COVID-19 relief reaches beneficiaries The Finance Ministry has tweaked prevention of money laundering (PML) norms with the aim to
SBI plans to appoint consultant for ‘competency assessment’ of 1,100 senior executives | Deccan Herald
State Bank of India (SBI) plans to hire a consultant for competency assessment and development of 1,100 senior officers for ensuring a sustainable competitive edge
Bonds decline on heavy government borrowing – The Hindu BusinessLine
Indian bonds dropped on concerns about a large government borrowing amid a nationwide lockdown that has diminished trading activity in the country’s financial markets. The
‘Exempt sales and service of farm equipment from lockdown’ – The Hindu BusinessLine
Farm machinery makers are seeking exemption from the lockdown to run their sales and service centres to cater to the farmers’ requirement during the rabi
Coronavirus: Trade credit insurance sector may see rise in claims | Business Standard News
So far, there has not been a noticeable impact of the current pandemic situation on trade credit insurance Non-life insurers are keeping a close watch
Covid-19, FII sell-off hit liquid funds hard; RBI’s LTRO may calm investors | Business Standard News
Assets under management (AUM) of the Rs 27-trillion mutual fund industry took a huge knock in March, largely because of withdrawals from the debt and
New CBIC circular: Import, export of goods without furnishing bonds to Customs authorities allowed – The Financial Express
The CBIC said it has approved relaxation of the requirement to submit bonds. CBIC Circular: The Central Board of Indirect Taxes and Customs (CBIC) on
FPI limit hike paves way for foreign fund flows into Indian shares, after MSCI defers raising India weight – The Financial Express
The Ministry of Finance in October 2019 has published a circular raising the statutory FPI limit of Indian firms to the sectoral foreign investment limit.
Banks may ask RBI for breather on lump sum repayment of deferred interest – The Hindu BusinessLine
Banks may move the Reserve Bank of India (RBI) to allow businesses and individuals availing working capital facilities more time to repay the interest in
Increased default threshold for IBC trigger comes into effect – The Hindu BusinessLine
From 1 lakh, the threshold has been raised to ₹1 crore The Ministry of Corporate Affairs (MCA) has operationalised the Centre’s move to raise the
Covid-19 impact: Will ₹1-lakh threshold for insolvency plea under IBC be reviewed? – The Hindu BusinessLine
If implemented, the move will offer substantial relief to stressed sectors In a bid to avoid frivolous applications under the IBC, one of the amendments
UPA economy doctors’ prescription to tide over coronavirus crisis | Business Standard News
Economy doctors of the United Progressive Alliance government — C Rangarajan, Montek Singh Ahluwalia, and Pronab Sen — had played a pivotal role in fixing
As Covid-19 grips economy, firms uncertain about impact on bankruptcies | Business Standard News
However, industry experts said many would also try to take advantage of the situation and blame the delay or non-delivery of projects on the Covid-19
Experts peg India’s Covid-19 lockdown cost at $120 bn, call for relief plan | Business Standard News
Pegging the cost of the Covid-19 lockdown at $120 billion (approximately Rs 9 trillion) or 4 per cent of the GDP, analysts on Wednesday sharply
An opportunity in Covid-19 crisis: Revisit all loan repayment contracts | Business Standard News
The prospect of wide-scale defaults in banking-related contractual obligations on account of the pandemic has stirred lenders into action. The Indian Banks’ Association (IBA) plans
Covid-19 impact: Banks want NPA forbearance for next two quarters or more | Business Standard News
An account is classified NPA if the default is beyond 90 days While the government has raised the threshold for invoking insolvency under the IBC
The tough balancing act – editorials – Hindustan Times
Amid speculation that the national lockdown, which ends on April 14, may get extended, Prime Minister Narendra Modi offered the first hint of the government’s
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