The union finance ministry has issued the detailed guidelines for the waiver of ‘interest on interest’ for loans that was announced earlier this month. The govt had decided to waive the compound interest on loans upto Rs 2 crore for a period of six months, from March to August. It was announced that this compound interest waiver will be … Read more
On Friday (July 16), a consortium of banks led by the State Bank of India (SBI) recovered ₹792.11 crores from fugitives and wilful defaulters such as Vijay Mallya, Nirav Modi, and Mehul Choksi. As per reports, the banks sold the shares of the three businessmen that were handed to them by the Enforcement Directorate (ED). The central … Read more
The union govt is reportedly going to table a Bill in the winter session of Parliament aiming to create a facilitative framework for the creation of official digital currency to be issued by the Reserve Bank of India (RBI). As per the description of the Bill available, the ‘The Cryptocurrency & Regulation of Official Digital Currency Bill, … Read more
State Bank of India (SBI), India’s largest lender, reported its highest-ever quarterly profit in the second quarter. The bank’s net profit increased 74% year on year for the quarter that ended on September 30, as core income increased and bad loan provisions decreased as the non-performing assets (NPA) ratio dropped. The net profit for the quarter was Rs … Read more
On Friday (September 22), American bank JPMorgan announced that it would include India in its Government Bond Index-Emerging Markets (GBI-EM) index. As per reports, 23 Indian Government Bonds (IGBs), which have a combined value of $330 billion, are eligible to be included in the emerging market debt index. The country’s local bonds will be included in JP … Read more
The Election Commission of India on Thursday released the data of Electoral Bonds bought by various entities from the State Bank of India and the recipients of such bonds. The data was published in two sheets, one gives the detail of purchasers of the Electoral Bonds from 12 April 2019 to 11 January 2024, and the other … Read more