Powering MSMEs: An Agenda for Growth April 22, 2021, 6:27 PM IST
According to Nobel Laureate Professor Paul Krugman,
“
almost everything depends almost entirely on its ability to raise its output per worker.”
India’s productivity growth is pale in comparison with its peer countries over the last 250 years. Limited free markets, rigidity of factor markets and the eventual low levels of total factor productivity are all responsible for India’s mediocre performance. To reverse this low-performance trajectory, we need to focus on prescriptions to uplift the micro enterprises because these firms dominate the Indian business landscape, and their success has far-reaching social and economic consequences.
Banks likely to see gross NPAs rise nearly 10% by year-end: Report
Banks likely to see gross NPAs rise nearly 10% by year-end: Report
A report by ICRA expects banks’ gross NPAs (excluding write-offs) to rise 9.6-9.7 per cent by March 31, 2021. The rating agency further predicts GNPAs to rise over 10 per cent by March 31, 2022. The sharp rise in GNPAs will severely deteriorate banks’ asset quality, spread over FY21 and FY22.
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UPDATED: April 6, 2021 11:50 IST
The sharp rise in NPAs could put the banks under serious pressure. (Photo: Reuters/Representational image)
Even as the economy emerges from last year’s critical slump, the trouble for India’s banking sector is far from over. The reason behind this is the large pool of bank loans that have been put under the “overdue categories” after customers opted for moratoriums and restructuring of loans.
Shapoorji Pallonji Group holds talks to raise Rs 4,000 crore from SSG Capital, others
The move by SP & Company (SPCPL), which is the flagship company of SP Group, comes at a time when banks are considering its one-time restructuring (OTR) application
BusinessToday.In | March 16, 2021 | Updated 12:06 IST
SP Group is holding discussions with SSG Capital and other institutions to raise funds until its one-time restructuring (OTR) application gets approval
Shapoorji Pallonji (SP) Group is in talks with overseas investors to raise up to Rs 4,000 crore as debt to be paid to Indian creditors.
This is said to be a last-ditch attempt by the financially stressed conglomerate to bypass the NPA (non-performing asset) label by March-end.The group has already put its three assets on the block. The move by SP & Company (SPCPL), which is the flagship company of SP Group, comes at a time when banks are considering its one-time restructuring (OTR) application.
CBI books Hyderabad firm in Rs 173 crore fraud
By IANS |
Published on
Thu, Mar 11 2021 18:27 IST |
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CBI raids in Delhi, UP, Raj, Haryana in Rs 1,400 cr bank fraud case. Image Source: IANS News
New Delhi, March 11 : The Central Bureau of Investigation (CBI) has started a probe against a Hyderabad-based private company and its directors for defaulting payment of interest and instalments of loan availed from a consortium of banks causing a loss to the tune of Rs 173.76 crore.
The agency has registered a case against Parikh Fabrics Pvt Ltd and its directors Nikhil B. Parikh and Rita B. Parikh as well as other private persons and unknown public servants.