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  • Top News Bharti Gupta Ramola

    Bharti Gupta Ramola

    Leader (Financial services), PwC India

    TOPIC: Financial Sector

  • Two of the biggest issues facing the banking sector are capital raising by public-sector banks (PSBs) and stressed assets. Government support will remain crucial for PSBs through measures like consolidation and divestments. Revamping of debt recovery tribunals (DRTs) by increasing their numbers and digitisation, incentivising timely repayments, a strong bankruptcy law, and punitive measures for defaulters, will help in recovery of bad debts. From a tax point of view, the goods & services tax (GST) implementation will remain crucial. Other measures required are movement towards an internationally competitive tax regime to make financial savings and investments attractive.

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RECENT QUERIES

  • R

    RAM RAMANAND

    Banks have posted significant drop in their profits or even large losses in their latest quarterly results. For example, IDBI Bank posted the highest-ever quarterly loss by an Indian bank (Rs 2,183.68 crore). The quantum of non-performing assets has also risen. What can Finance Minister Jaitley provide for the sector in Budget 2016 to ease the burden on banks?

    Bharti Gupta Ramola

    BHARTI GUPTA RAMOLA

    Jaitley is already talking about giving more powers to banks and introducing a bankruptcy law to keep a check on NPAs. The following measures will also help: * Steps to push credit demand, i.e., investment flows. * Policy measures and administrative actions to further unlock stalled infra projects * Judicial reforms so that contracts can be enforced. * Structural reforms in some of the key sectors.


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    Can the government develop a slab system in deductions like 80C? When a person falls under the 30% slab, to invest of Rs 1.5 lakh under 80C or other deduction is not a big deal. More deductions can attract investment in government securities (like PPF,LIC etc) and tax evasion. Is that possible?


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    RAJA KS / MALA KS

    It is time the banking ombudsman facility was modified. Only the officers with application of mind should be posted as ombudsmen. It is a critical functional posting and NOT a clerical job. Many ombudsmen have been functioning merely as a tool in the hands of interested parties. Will the govt do something in this regard?


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    N D CHANDRUKA

    PSBs have been under-reporting their NPAs for several past years. Now, RBI Governor Rajan has asked for the books to be cleaned in FY17. This may amount to giving high dose of anaesthia to PSBs at one go. Why is the government not asking Banks to identify NPAs and clean their balance sheets in a three-year period instead of one. The way Rajan is behaving is like giving high dose of chemotherapy to a cancer patient, instead of a low dose every week. Will PSBs' poor image not dent India's image globally?