Synopsis
Within three weeks of launching the rescue act, the RBI s rate setting panel s meeting got advanced to deliver a deep cut of 0.70 per cent in key rates, a reduction in cash reserve ratio by 1 percentage point, and an announcement of a three-month repayment moratorium on loan repayments and an assured liquidity support through the Targeted Long Term Repo Operations (TLTROs).
PTI
Mumbai: Delivering a public speech hours after the RBI launched a rescue act for
Yes Bank on March 6, Governor Shaktikanta Das reiterated the RBI s affirmation to do whatever was needed to combat the coronavirus impact. On that day, India had only one confirmed COVID-19 infection, the World Health Organisation was five days off from declaring it as a pandemic and the financially debilitating lockdowns were not even on the horizon. Das promise on efforts to mitigate COVID-19 impact appeared as a footnote in news reports from the event.
Petition filed over punishing SBI officials for violating SC s order ANI | Updated: Dec 28, 2020 13:28 IST
New Delhi [India], December 28 (ANI): A petition has been filed before the Supreme Court seeking initiation of contempt of court proceedings and punish the concerned State Bank of India (SBI) officials, and others, for allegedly and willfully violating the Apex Court s directions of September 3, 2020.
The Top Court had passed the order on September 3 this year on loan moratorium case and said that accounts that have not been declared Non-Performing Assets (NPAs) as on August 31, 2020, cannot be declared as such until further notice.
The petitioner, Greenlands (A&M) Corporation, claimed that the respondent, SBI and others, allegedly declared the account of the petitioner as NPA and thus flouted the stay order of the Apex Court of September 3, 2020, and thereby it (SBI) and others committed contempt of court, and the SC should initiate th
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The Supreme Court of India has passed many judgments and orders in the matters related to COVID-19, in the year 2020. In this write-up, the important pronouncements are briefly discussed.
CONSTITUTION OF HIGH-POWERED COMMITTEE IN EACH STATE/UNION TERRITORY FOR RELEASE OF PRISONERS ON PAROLE OR INTERIM BAIL.
A Bench comprising the Chief Justice SA Bobde, Justices L. Nageswara Rao and Justice Surya Kant directed that prisons must ensure maximum possible distancing among the prisoners including undertrials. The bench also took into consideration the possibility of outside transmission and directed that the physical presence of all the undertrial prisoners before the Courts must be stopped forthwith and recourse to video conferencing must be taken for all purposes. The bench also directed that the transfer of prisoners from one prison to another for routine reasons must not be resorted except for decongestion to ensure social distancing and medical assistance to an ill pr
Govt to set up Development Finance Institution in 3-4 months
Financial Services Secretary Debasish Panda said the work is in progress and the DFI should become a reality soon, may be by the end of the current financial year or early next year
PTI | December 23, 2020 | Updated 07:56 IST
In her last Budget speech, Finance Minister Nirmala Sitharaman had proposed to set up DFIs for promoting infrastructure funding
The government plans to set up a Development Finance Institution (DFI) in the next three to four months with a view to mobilise Rs 111 lakh crore required for funding of the ambitious national infrastructure pipeline, according to Financial Services Secretary Debasish Panda.