A Bank for Infra
The National Bank for Financing Infrastructure and Development promises to address the capital needs of the cash-starved infrastructure sector, but execution remains key
Illustration by Raj Verma
On March 25, the last day of the Covid-19 curtailed Budget Session of Parliament, the government passed a Bill that turned the clock 30 years back to India s pre-economic-liberalisation era in terms of infrastructure financing.
The proposed law that the Rajya Sabha cleared that day (the Lok Sabha had passed it two days earlier) was the National Bank for Financing Infrastructure and Development (NBFID) Bill, 2021. It called for the establishment of a development finance institution (DFI), a tried and tested concept that had led to the birth of institutions, including IFCI (Industrial Finance Corporation of India), IDBI (Industrial Development Bank of India), SIDBI (Small Industries Development Bank of India), NABARD (National Bank for Agriculture and Rural Development),
Great Risks on the Horizon- Business News
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A Bank for Infra- Business News
businesstoday.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businesstoday.in Daily Mail and Mail on Sunday newspapers.
INTRODUCTION
Cryptocurrency is a virtual or Digital currency. It is the outcome of consistent growth of information technology in the last three decades. The fear is expressed whether emergence of this digital currency would render Central Banks obsolete. The virtual currency may one day serve as alternative means of payment and unit of account. That would reduce demand for fiat currencies or Central Bank money. This paper has endeavoured to seek an answer to the question, “Will Monetary policy remain effective in a world without legal tender money?”
CRYPTOCURRENCY- ORIGIN AND GROWTH
The origin of cryptocurrency maybe related to the year 1883, when American Cryptographer David Chaun created cryptographic electronic money called as e-cash. However, it failed to attract the attention of the household and the business sectors for large scale application as medium of exchange and unit of account in day-to-day transactions in all types of markets.
Call urgent all-party meet on Covid, Modi govt has failed people, says Sonia Gandhi
Call urgent all-party meet on Covid, Modi govt has failed people, says Sonia Gandhi
Congress president Sonia Gandhi has urged Prime Minister Narendra Modi to urgently convene an all-party meeting on the Covid-19 situation in India.
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UPDATED: May 7, 2021 13:34 IST
Sonia Gandhi has urged Prime Minister Narendra Modi to urgently convene an all-party meeting on the Covid-19 situation in India. (PTI)
Congress president Sonia Gandhi has urged Prime Minister Narendra Modi to urgently convene an all-party meeting on the Covid-19 situation in India.
Addressing the Congress Parliamentary Party (CPP) meeting on Friday, Sonia Gandhi said the parliamentary panels must be convened to ensure collective action to combat the pandemic better. The meeting was attended by Congress’s Lok Sabha and Rajya Sabha MPs.