The government will infuse 83000 crore in Public Sector Banks in next few months in the current fiscal. Briefing media in New Delhi on Thursday evening, Finance Minister Arun Jaitley said the recapitalisation will enhance the lending capacity of state-owned banks and help them come out of the RBI's Prompt Corrective Action, PCA framework. He further said recognition of non-performing assets in the public sector banks is complete, and the downslide in bad loans has begun. The government on Thursday moved proposal in Parliament for enhanced bank recapitalisation outlay from Rs 65 thousand crore rupees to one lakh six thousand crore rupees in the current financial year to propel economic growth.
Finance Minister Arun Jaitley today said Indian economy is now fairly large to display a certain degree of resilience. He added that ability to grow in 7 to 8 percent range is fairly certain. The Finance Minister was speaking at the inauguration of FICCI's 91st Annual General Meeting in New Delhi this evening. He said there is a need to focus on several unreformed sectors in the economy. He also cited the need to improve credit flow and tackle liquidity. On RBI, Mr Jaitley said government respects its autonomy and indepence. He said that pointing out credit and liquidity issues is not infringing on autonomy.
Minister of State for Finance Shiv Pratap Shukla has clarified that Public Sector Banks (PSBs) do not have any plans to shut down their ATMs. His statement assumes significance amidst a report by the Confederation of ATM industry warning that nearly half of the 2.38 lakh machines run the risk of closing down by March next year due to regulatory compliance changes making the business unviable due to rising costs and dipping or stagnant revenues. In a written reply to Lok Sabha, Mr Shukla said there are 2.21 lakh ATMs are deployed in the country as on September 30, as reported by the scheduled commercial banks, small finance banks, payment banks and white label ATM operators. He further said, mobile banking services and various digital modes of banking facilities are also available in th
Minister of State for Finance Shiv Pratap Shukla informed Parliament that Public Sector Banks (PSBs) have recovered 2.33 lakh crore rupees worth of bad loans during the four years from financial year 2014-15 to fiscal 2017-18. In a written reply to the Lok Sabha yesterday, Mr Shukla informed that as per RBI data on global operations for PSBs, during the financial years 2014-15 to 2017-18, PSBs recovered 2,33,339 crore rupees, of which 32,693 crores were from written-off accounts. He said, write-offs of non-performing assets is a regular exercise of the banks to clean up their balance sheet, tax benefit and capital optimisation. During 2014-15 to 2017-18, the PSBs witnessed reduction in their NPAs due to write-offs to the tune of 3,16,515 crore rupees. The Minister also said that
SBI report has claimed that concerns on credit supply to small businesses are a myth, adding that the sector has had a stupendous loan growth since the launch of GST. The report prepared by SBI economists says that incremental credit to Medium and Small-scale Enterprises under priority sector lending has increased by five times to 1.23 lakh crore rupees as compared to 25,700 crore rupees during the corresponding pre-GST period. The report concludes that deceleration in credit in the pre-GST period was partly due to overall slowdown in economic activity, rising NPAs and reclassification of food and agro-processing units from MSME category to the agriculture sector. This report comes amid concerns being raised over the health of MSMEs; forcing the Reserve Bank to announce a special ...
Jharkhand Skill Development Mission Society and FICCI are jointly organising a day long Industry Engagement Programme in New Delhi today. Titled the 'Employers Network for Generating Aspirational and Gainful Employment', ENGAGE, the programme aims to build a sustainable linkage between Jharkhand government and Industry players. The theme of the event is Skill in Jharkhand : Skilling for Future. The event includes deliberations on several issues including skill development and providing suitable jobs to the youth of Jharkhand. The state government has initiated several skill development programmes to produce a quality workforce. The state government is also working to place the trained force in suitable jobs.
The sixth phase of the sale of electoral bonds will begin from Thursday which will continue till November 10. Electoral bonds are being pitched as an alternative to cash donations made to political parties. The scheme is a part of efforts to bring transparency in political funding. The Finance Ministry said, State Bank of India has been authorised to issue and encash Electoral Bonds through its 29 authorised branches across the country. The Electoral Bonds will be valid for 15 calendar days from the date of issue. No payment shall be made to any payee Political Party if the Electoral Bond is deposited after expiry of the validity period. The Electoral Bond deposited by an eligible Political Party in its account shall be credited on the same day. As per provisions of th...
‘स्वच्छता ही सेवा’ पखवाड़े के दौरान रेलवे परिसरों में हरित क्षेत्र के विस्तार के लिए 13.27 लाख पौधे लगाए गए स्वच्छ भारत मिशन कार्यक्रम के तहत मौजूदा वर्ष में 1400 रेलवे स्टेशनों पर 1800 शौचालयों का निर्माण और उन्हें बेहतर बनाने का काम किया गया तथा 2700 स्टेशनों पर 2700 शौचालय बनाने का काम शुरू किया गया दिव्यांगों के लिए विशेष शौचालय बनाने के साथ ही मौजूदा शौचालयों को बेहतर बनाने का काम भी किया गया स्वच्छ पर्यावरण की प्राथमिकताओं के साथ स्वच्छता अभियान को बढ़ावा देने के लिए, भारतीय रेल ने रेलवे स्टेशनों सहित सार्वजनिक इस्तेमाल वाले अपने अन्य सभी परिसरों में हरित क्षेत्र के विस्तार के लिए पूरी प्रतिबद्धता के साथ काम शुरु किया है। राष्ट्रीय स्तर पर चलाए गए स्वच्छता ही सेवा पखवाड़े के दौरान रेलवे के अधिकारियों और कर्मचारियों ने स्वच्छता अभियान में बढ़-चढ़ कर हिस्सा लिया। इस दौरान 1300 किल
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