Bank credit grows by 5.93%, deposits by 11.06%

Bank credit grew 5.93 per cent to Rs 107.05 lakh crore, while deposits rose 11.06 per cent to Rs 147.98 lakh crore in the fortnight ended January 29, RBI data showed. In the fortnight ended January 31, 2020, bank credit stood at Rs 101.05 lakh crore and deposits at Rs 133.24 lakh crore. In the … Read more

Loan moratorium plan will be ready by October 1, Centre tells Supreme Court

The government informed the Supreme Court on Monday that complexities concerning the way forward following the expiry of the loan moratorium are under “active consideration” at the highest level. The loan moratorium was in place during the pandemic lockdown. Appearing before a Bench led by Justice Ashok Bhushan, Solicitor General Tushar Mehta said “the issues … Read more

No plan to ease fiscal deficit targets

Despite the strain on government finances due to the COVID-19 pandemic, there is no credible proposal to amend the legislation meant to control the fiscal deficit, Chairman of the 15th Finance Commission N.K. Singh said. Speaking to presspersons after a two-day meeting of the Commission’s Economic Advisory Council, Mr. Singh said the government was currently … Read more

HC order on Indiabulls Housing worries MFs

Mumbai/New Delhi: An interim order by the Delhi high court restraining coercive action against Indiabulls Housing Finance Ltd for its inability to repay bondholders has raised fears among mutual funds that more debtors could take the same course. The Indiabulls counsel cited the Reserve Bank of India’s (RBI) 27 March circular on loan moratorium and … Read more