Page 1611 - Economy & Policy News

Lakshmi Vilas Bank failed and this time India is getting a rescue right

India called upon called upon a foreign institution to take over Lakshmi Vilas Bank's assets and liabilities. That should stoke interest of other global banks

RBI panel suggests hike in promoter stake cap to 26%, non-promoter to 15%

These are among the key recommendations made by the internal committee of the RBI, set up to review the extant ownership guidelines and corporate structure for private banks in the country.

RBI internal working group for bank licence to large corporate houses

Non-banking financial firms with an asset size of Rs 50,000 cr or more can aspire for a banking licence

Govt proposes to up daily factory work limit to 12 hours, draws protests

Work-life balance of employees will be hurt if they work for so long and then commute, say labour economists

Wind energy dips in peak season; industry fears climate change impact

July fetches the highest generation in wind energy, but this time the annual fall was as much as 40 per cent in some regions

Difficult to sustain Rs 1-trillion monthly GST collection, say experts

They believe the October mop-up may have resulted from pent-up demand, and are sceptical about the post-festive season scenario

Farmers sow rabi crops in larger area as monsoon withdrawal gets delayed

In all, the average area under rabi crops in the last five years is 62.02 million hectares which means that so far 43 per cent of normal area has been covered this year

RBI likely to get US Federal Reserve-like powers of supervision

The stage may now be set for another tweak to the central bank's specialised supervisory and regulatory cadre

RBI panel recommends banking overhaul: Relaxation for SFBs, payments banks

Payments banks can convert into SFBs with 3 years' experience instead of 5, recommends RBI panel

Covid-19 vaccine must be affordable and accessible: FM Nirmala Sitharaman

At a meeting of the finance ministers of G-20, she said further efforts should be made by members of the grouping to end the Covid-19 crisis.

Vital for G20 nations to coordinate monetary, fiscal policies, says Snower

Noting that at the G20 meeting in Saudi Arabia on Saturday, it is absolutely vital that some agreement must be signed for production and distribution of COVID-19 vaccines, Snower said

Covid-19 pandemic prompts health care firms to spend more on IT: Report

According to the data by SalesEdge, the research arm of TechCircle, the total IT spending increased to $376 million in 2020 so far from $368 million last year

Great scope for fintech co-operation between India, France: Nandan Nilekani

Billions of dollars were transferred through the cash transfer programme using the Aadhaar platform during the Covid-19 crisis directly into the bank accounts of vulnerable people

RBI levies over Rs 5.8 cr fine on 6 entities including PNB, Sodexo, PhonePe

Except Punjab National Bank (PNB), the remaining five entities are non-bank prepaid payment instrument (PPI) issuers

India to get Rs 2 trillion investments for compressed biogas units: Pradhan

JBM Group, Adani Gas, Torrent Gas and Petronet LNG among companies that will set up the units.

India's forex reserves surge $4.277 bn to record high of $572.771 bn

The country's foreign exchange reserves swelled by $4.277 billion to a lifetime high of $572.771 billion in the week ended November 13, RBI data showed on Friday.

Bank credit rises 5.67% to Rs 104 trn, deposits up 10.63%: RBI data

Bank credit grew by 5.67 per cent to Rs 104.04 trillion, while deposits increased by 10.63 per cent to Rs 143.80 trillion in the fortnight ended November 6, according to RBI data.

Exports may be muted as WTO warns of growth slowdown in global trade

Exports had recovered 5 per cent in September after months of contraction.

4 million lost job amid Covid-19 crisis, eligible for EPF subsidy: Data

EPFO releases data for employee exits in formal sector

India losing $10.3 bn every year due to tax abuse by MNCs, evasion: Report

India is losing over $10.3 billion (about Rs 75,000 crore) in taxes every year owing to global tax abuse by MNCs and evasion by private individuals, a report said on Friday.