One time loan restructuring
Bikky Khosla | 04 Aug, 2020 |
| Prime Minister Narendra Modi last week met stakeholders of banks and NBFCs and discussed issues relating to the economy, including those in the financial sector, particularly credit growth and risk aversion. He emphasised that the Government is firmly behind the banking system. |
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Risk aversion not the way to growth
Bikky Khosla | 27 Jul, 2020 |
| The RBI is expected to go for another dose of repo rate cut in its MPC meet during August 4 to 6, according to a latest survey conducted among a group of economists and industry experts. |
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IGST fraud: Bring the offenders to book
Bikky Khosla | 21 Jul, 2020 |
| Media reports last week revealed that a total of 1,377 'exporters' have fraudulently claimed IGST refund amounting to Rs 1,875 crore. They are now untraceable at their principal place of business. It sounds even more shocking that the list includes seven accredited 'star exporters'. |
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Covid-19 Essentials Expo India
Bikky Khosla | 14 Jul, 2020 |
| India is still struggling against the COVID-19 pandemic. The story is hardly different in other parts of the world as well. Economies across the globe are still in lockdown mode, with travel restrictions and flight bans abound everywhere. |
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Pain points for MSMEs
Bikky Khosla | 07 Jul, 2020 |
| In a tweet, the Finance Ministry last week informed that the total loan amount sanctioned under the 100 percent Emergency Credit Line Guarantee Scheme has reached Rs 1,10,343.77 crore as of July 1. |
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Exports challenges
Bikky Khosla | 30 Jun, 2020 |
| India's exports sector has continued its sharp fall with the COVID-19 crisis refusing to cease. Our overseas shipments plunged 34 percent in March, 60 percent in April, and 36 percent in May on a year-on-year basis. |
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Rate cut transmission
Bikky Khosla | 23 Jun, 2020 |
| Amid the ongoing COVID-19 crisis, the Reserve Bank of India (RBI), in an out-of-turn Monetary Policy Committee (MPC) meeting last month, reduced the key interest rate or the repo rate by 40 bps. In another relief to commercial borrowers, the central bank extended the loan repayment moratorium for another three months till August 31. |
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Loan disbursal under ECLGS
Bikky Khosla | 14 Jun, 2020 |
| Public sector banks have sanctioned loans worth Rs 29,490.81 crore under the Rs 3 lakh crore Emergency Credit Line Guarantee Scheme (ECLGS) as of 11 June, 2020. Of this, an amount of Rs 14,690.84 crore has already been disbursed. |
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