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Government exploring setting up bad bank, all other options: DEA Secretary

Government exploring setting up bad bank, all other options: DEA Secretary SECTIONS Last Updated: Dec 18, 2020, 09:47 PM IST Share Synopsis Bajaj was responding to a query on whether the government would consider setting up of a bad bank as a one-time measure for reducing the burden of Non-Performing Assets (NPAs) of the public sector banks. To help the MSME sector, Bajaj, on Friday, said the government has announced 100 per cent guarantee for the smaller industries so that the banks could lend to them. New Delhi: The government is exploring all options, including setting up of a bad bank, to improve the health of the country s banking sector, Economic Affairs Secretary Tarun Bajaj said on Friday. He also said the government has recapitalised public sector banks and continue to pump in capital as per requirements.

Pandemic may bring back plan for a new credit enhancing NBFC

Pandemic may bring back plan for a new credit enhancing NBFC ​ By IANS | Published on ​ Tue, Dec 15 2020 19:51 IST | ​ 6 Views Non-Banking Financial Company (NBFC).. Image Source: IANS News New Delhi, Dec 15 : The government may give the go-ahead for a new credit enhancement non-banking finance company (NBFC) that will act as a guarantor for lower-rated bonds issued by infrastructure companies to help them raise funds at competitive rates. A credit enhancement structure or a company helps in lifting the ratings of a specific project or a Special Purpose Vehicle (SPV) executing that project, making it easier for them to mobilise funds from the market at attractive rates.

Odisha announces Rs 289 42 cr as Covid assistance to MSMEs

Odisha announces Rs 289.42 cr as Covid assistance to MSMEs ​ By IANS | Published on ​ Tue, Dec 15 2020 17:21 IST | ​ 4 Views Naveen Patnaik.. Image Source: IANS News Bhubaneswar, Dec 15 : Odisha Chief Minister Naveen Patnaik has approved a package of Rs 289.42 crore for the benefit of MSMEs in order to combat the Covid-19 pandemic situation in the state. The package includes a number of assistance measures such as interest subvention, top-up subsidy, reimbursement of state GST and waiver of annual institutional maintenance charges. It is aimed at benefiting a range of entrepreneurs, mostly women and weaker sections of society, in the MSME sector of the state to recover from the unexpected challenges by the Covid 19 pandemic, said a statement from the Chief Minister s Office (CMO).

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