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FM Sitharaman asks banks to roll out loan resolution schemes by mid-Septem
Updated : 5 years, 6 months ago IST
New Delhi [India], September 3 (ANI): Finance Minister Nirmala Sitharaman on Thursday asked bankers to roll out loan resolution schemes by September 15 and COVID-19 related distress must not impact their assessment of borrowers' creditworthiness.
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Delhi HC adjourns to September 8 plea to extend moratorium, provide financ
Updated : 5 years, 6 months ago IST
New Delhi [India], September 3 (ANI): The Delhi High Court on Thursday adjourned to September 8 hearing on a petition seeking direction to the Central government and Reserve Bank of India (RBI) to extend the moratorium period for repayment of term loans and credit cards for another 12 months
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Q1 GDP growth contracts by 23.9 pc as COVID-19 cripples economic activitie
Updated : 5 years, 6 months ago IST
New Delhi [India], Aug 31 (ANI): The Indian economy contracted by 23.9 per cent in the April to June quarter (Q1 FY21) as COVID-19 pandemic compressed consumer demand and private investments, government data showed on Monday.
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RBI announces more measures to foster orderly market conditions
Updated : 5 years, 6 months ago IST
Mumbai (Maharashtra) [India], Aug 31 (ANI): The Reserve Bank of India (RBI) will conduct additional special open market operations involving the simultaneous purchase and sale of government securities for Rs 20,000 crore in two tranches of Rs 10,000 crore each.
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Details of borrowing options to meet GST compensation requirement for 2020
Updated : 5 years, 6 months ago IST
New Delhi [India], Aug 29 (ANI): The two borrowing options to meet the Goods and Services Tax (GST) compensation requirement for 2020-21 consequent to the discussions in the 41st meeting of the GST Council held on August 27 has been communicated to states which could, in turn, communicate th
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Centre gives two options to states on GST compensation
Updated : 5 years, 6 months ago IST
New Delhi [India], Aug 27 (ANI): The Centre on Thursday gave two options for compensating states on the Goods and Services Tax (GST) to bridge revenue shortfall as the economy faces a prospect of contraction in current fiscal year due to COVID-19 crisis.
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Centre gives two options to states for borrowing to meet revenue shortfall
Updated : 5 years, 6 months ago IST
New Delhi [India], Aug 27 (ANI): The Centre on Thursday presented two options to states regarding GST compensation during the GST Council meeting including a special window in consultation with RBI to provide Rs 97,000 crores at a reasonable interest rate and that the entire GST compensat
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RBI to follow calibrated unwinding of emergency measures post-COVID: Gover
Updated : 5 years, 6 months ago IST
Mumbai (Maharashtra) [India], Aug 27 (ANI): The Reserve Bank of India will not unwind all recent measures taken to shore up the economy amid COVID-19 pandemic and act when the situation arises, Governor Shaktikanta Das said on Thursday.
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Resolution framework to give durable relief to borrowers facing COVID-19 r
Updated : 5 years, 6 months ago IST
Mumbai (Maharashtra) [India], Aug 27 (ANI): While the Reserve Bank of India's (RBI's) moratorium on repaying loans was a temporary solution in the context of COVID-19 lockdown, the resolution framework is expected to give a durable relief to borrowers facing the pandemic-related stress, Gove
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RBI Governor royally ignored by government, says Chidambaram
Updated : 5 years, 6 months ago IST
New Delhi [India], Aug 26 (ANI): Congress leader P Chidambaram on Wednesday targeted the BJP-led government over the RBI's 2019-20 annual report and said it is difficult to find any other instance when a central bank Governor is so "royally ignored" by the Centre.
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RBI has confirmed what I've been warning for months: Rahul Gandhi
Updated : 5 years, 6 months ago IST
New Delhi [India], Aug 26 (ANI): Congress leader Rahul Gandhi on Wednesday hit out at the Centre over the Reserve Bank of India's latest warning on economic contraction amid the novel coronavirus pandemic and said that "distractions through media will not help the poor".
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RBI calls for wide-ranging reforms to offset COVID-19 losses
Updated : 5 years, 6 months ago IST
Mumbai (Maharashtra) [India], Aug 25 (ANI): Declining capacity utilisation, weakening of consumption demand and overhang of stressed balance sheets are restraining new investments, the Reserve Bank of India (RBI) said on Tuesday while calling for wide-ranging reforms to regain losses due to
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