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India has been quite innovative on digital identity, says top official Tobias Adrian
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Tobias Adrian, Director of the Monetary and Capital Markets Department of the International Monetary Fund. File photo
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India has been quite innovative on digital identity, says top official Tobias Adrian
India is on the right track and is innovating on the policy side, including on digital identity and payments, but it also needs to capture all the segments of the financial market and institutions to make sure that every piece fits together like a puzzle to fuel growth in the country, according to a top IMF official.
Rating agency Standard & Poor’s today said the systemic risk facing banks in India is likely to remain high in the wake of the second wave of Covid-19 infections and the high proportion of weak loans. This is despite India s economic recovery, though the central bank and the government’s efforts to cushion the effects of the economic crisis will limit the stress on the balance sheets of these banks. The control of Covid-19 remains a key risk for the economy. New infections have spiked in recent weeks and the country is in the middle of a second pandemic wave. Some targeted lockdowns have already been implemented and more will likely be needed. The impact of broader lockdowns on the economy could be substantial, depending on their length and scope, S&P said in a statement.
Top IMF official Tobias Adrian stated the importance of investments into financial institutions, oversight and infrastructures to ensure the system can absorb shocks and sustain growth.
Government and the State Bank have been promoting the SMEs, but the sector has shown a high rate of infected loans. -APP/File
KARACHI: The small and medium enterprises (SMEs) appeared major bank defaulters as the sector’s infection ratio at the end of December 2014 was 30.5 per cent, reported the State Bank in a recent report.
The government and the State Bank have been promoting the SMEs, but the sector has shown a high rate of infected loans.
Out of the total advances of Rs299.3 billion at the end of December 2014, the Non-Performing Loans (NPLs) rose to Rs91.2bn, making the sector highly risky for lenders.
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MCLEAN, Va., April 08, 2021 (GLOBE NEWSWIRE) Freddie Mac (OTCQB: FMCC) today announced pricing of the first Seasoned Credit Risk Transfer Trust (SCRT) offering of 2021 a securitization of approximately $1.2 billion including both guaranteed senior and unguaranteed subordinate securities backed by a pool of seasoned re-performing loans (RPLs). The SCRT securitization program is a fundamental part of Freddie Mac s seasoned loan offerings which reduce less liquid assets in its mortgage-related investments portfolio and sheds credit and market risk via economically reasonable transactions.
Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2021-1 includes approximately $1.1 billion in guaranteed senior certificates and approximately $85 million in unguaranteed mezzanine and subordinate certificates. The mezzanine certificates will be rated. The transaction is expected to settle on April 13, 2021. The underlying collateral consists of 11,123 fixed-, s