Government exploring setting up bad bank, all other options: DEA Secretary
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Last Updated: Dec 18, 2020, 09:47 PM IST
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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.
December 18, 2020
Finance Minister Nirmala Sitharaman chairs pre-Budget meeting in New Delhi - -
FM expects Indian manufacturing sector to adapt to industry 4.0 in full steam in next 12 months - -
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FM expects Indian manufacturing sector to adapt to industry 4.0 in full steam in next 12 months - -
× Finance Minister Nirmala Sitharaman on Friday said that she expects Indian manufacturing sector to adapt to industry 4.0 in full steam in next 12 months, taking it to a newer platform at the global stage.
“Industry 4.0 which was just a point of discussion just before Covid-19 struck us, you will find many of those industries standing up to say that we are already adopting technology, Artificial intelligence and big data are part of our systems,” Sitharaman said at the CII Partnership Summit 2020, held virtually for the first time due to the pandemic. Sitharaman was responding to a question on where does she see India and Indian industry in a year from no
FSDC Meeting: Recovery to be faster than predicted; focus on support for financial sector
Budget proposals submitted by the Reserve Bank of India and other regulators were discussed at the meeting. December 16, 2020 3:29:17 am
Finance Minister Nirmala Sitharaman (centre) at the FSDC meeting at North Block in New Delhi on Tuesday. (PTI)
The Financial Stability and Development Council (FSDC) on Tuesday discussed measures that may be needed to support the financial sector for achieving faster real economic growth and achieving the overall macroeconomic targets. Finance Minister Nirmala Sitharaman chaired the FSDC meeting, which was attended by financial sector regulators and senior government officials, via videoconference.
Proposed DFI should mobilise global funding for infrastructure projects, says SBI chief Dinesh Khara
Given the huge requirement of funds for infrastructure development, foreign funds would be required very much, he noted.
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NEW DELHI: The proposed development finance institution (DFI) should attract foreign capital to fund infrastructure spending rather than following the old model of government support for sustenance, State Bank of India (SBI) Chairman Dinesh Khara said on Tuesday.
The government is actively considering setting up a DFI to meet the financing needs of the infrastructure sector, which according to the National Infrastructure Pipeline requires massive funding of Rs 111 lakh crore over the next five-year period ending 2024-25.
Pre-Budget consultations: Divestment, fiscal deficit, infra push feature in FM meeting with industry
The meetings with industry chambers will be followed by two-day consultations with stakeholders of financial sector and capital markets. December 15, 2020 3:12:35 am
Finance Minister Nirmala Sitharaman during a meeting with industrialists at North Block in New Delhi on Monday. (PTI)
Finance Minister Nirmala Sitharaman held her first pre-Budget meeting with top industrialists on Monday amid expectations of the government presenting “growth-oriented Budget to boost economic activity recovering from effects of Covid.”
The meetings with industry chambers will be followed by two-day consultations with stakeholders of financial sector and capital markets. Aggressive disinvestment of state-owned companies, government reducing its stake in most public sector banks (PSBs) below 50 per cent, managing the fiscal deficit over a three-year period were a