India, which aspires to be a $5-trillion economy, needs to strengthen “the invisible hand of the market supporting it with the hand of trust”, argues the Survey, which pegs FY21 GDP growth at 6-6.5%.
Data reveals that the loss-making and NPA-heavy public sector banks have serious efficiency issues.
Mark Matthews, head of research (Asia) at Julius Baer, says there are no signs of a pickup in the Indian economy yet, but a ‘trickle through’ is likely in a quarter or so.
By merging 10 PSBs into four large banks, the Finance Minister wants to push growth through credit offtake and pave the way for a $5 trillion economy.
The government’s partial credit guarantee on asset purchases does not address investors’ long-term concerns about the sector’s exposure to stressed real estate: Fitch Ratings.
A ₹3,800 crore fraud will demand more provisioning in the current year, and PNB may require further capital from the government if it needs to grow its business.
A detailed look at data reveals that Modi 1.0 had a far superior record on disinvestment compared to UPA 2.0.
Government proposes merger of Bank of Baroda, Vijaya Bank and Dena Bank. Experts divided on whether the move will help the troubled public sector lenders.
The loss was much lower than Rs 2,418 crore, the figure estimated by a Reuters poll.
A spate of banking frauds, arrests of the top management at some banks and mounting bad loans have led to drying up of debt from financial system. So who will fund India’s growth story?
