Bokil and his team, most of whom left well-established careers to be part of the movement to 'eradicate black money' in the Indian economy, met all senior politicians, policymakers, central bank officials, bank officials, religious leaders from all faith, and anyone who cared to give them time -- not to mention holding public awareness campaigns through the length and breadth of the nation, to push for their radical ideas. … [Read more...] about ‘Never suggested overnight banning of high value notes’
Business lines of credit for new businesses
Government has envisioned investment of Rs 100 lakh crore in infrastructure intended over the next five years. Reduction in Net Owned Fund requirement from Rs. 5,000 crore to Rs. 1,000 crore has also beeb proposed. The government has also made a target of Rs 1, 05,000 crore of disinvestment receipts set for the FY 2019-20. It will consider going to an appropriate level below 51% in PSUs where the government control is still to be retained, on case to case basis. Present policy of retaining 51% Government stake will be modified to retaining 51% stake inclusive of the stake of Government controlled institutions. Government will offer an investment option in ETFs on the lines of Equity Linked Savings Scheme (ELSS). It will meet public shareholding norms of 25% for all listed PSUs and raise the foreign shareholding limits to maximum permissible sector limits for all PSU companies which are part of Emerging Market Index. … [Read more...] about 50 days of Modi government: How business and economy are shaping
Arun Kumar: As Dr. John pointed out, lockdown is needed to slow the pace of increase of the disease. The apex has to be brought down to the capacity that we have and use the time of lockdown to build the capacity for health to cope with the emergency that is going to come. We need testing, more hospitalisation capacity, more doctors etc. Lockdown gave you time only for that. It is not a cure. In the lockdown, production completely stops, demand also correspondingly falls because of income decline. So what you have is a situation where both supply and demand are affected, the economy comes down, and only essentials are produced. In my judgment only 25% of the economy was working, so you had a minus 75% rate of growth, about 200 million people lost work because 94 % of the employment is in the unorganised sector. That completely stopped as they did not have working capital, supplies. So 94% of the workforce has lost employment. Those in agriculture can continue, and in mining and rural … [Read more...] about Can India’s workforce have a safe return to business?
NEW DELHI: Eligible MSME borrowers will get an offer from their lending institutions for a pre-approved loan under the Rs 3 lakh crore scheme announced for micro, small and medium enterprises to help them deal with the impact of COVID-19. The Guaranteed Emergency Credit Line (GECL) of Rs 3 lakh crore was announced as part of Rs 21 lakh crore package by the government. As per a set of FAQs, GECL is a loan for which 100 per cent guarantee would be provided by National Credit Guarantee Trustee Company to Member Lending Institutions (MLIs) -- banks, financial institutions and NBFCs. The FAQs were issued by National Credit Guarantee Trustee Company (NCGTC). The loan will be extended in the form of additional working capital term loan facility in case of banks and additional term loan facility in case of NBFCs to eligible MSMEs/ business enterprises and interested Pradhan Mantri Mudra Yojana (PMMY) borrowers. The Frequently Asked Questions (FAQs) said the scheme is a specific response to … [Read more...] about Eligible MSMEs to get offer of pre-approved loan under Rs 3 lakh crore relief package
In the current scenario, most homebuyers will adopt a wait and watch stance till the situation tends towards normalcy. I then expect the pent-up demand to unfurl with homebuyers showing strong inclinations to purchasing a house. Whilst other factors will come into play when consumers decide to purchase a house such as decentralised working and social distancing, the demand for housing finance remains insatiable in a country like India which has a huge housing shortage and as I mentioned before, the penetration levels are extremely low compared to other countries. … [Read more...] about Demand for homes will pick up after Covid-19 lockdown ends: HDFC CEO Keki Mistry