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Shiv Sena plans show of strength at ED office on Jan 5 when Varsha Raut appears before it
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What Is Maharashtra s Self-Redevelopment Scheme for Housing Societies
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ISSUE DATE: December 28, 2020
UPDATED: December 18, 2020 23:40 IST
Illustration by Nilanjan Das
India’s banking sector is frequently under the spotlight, and usually for unflattering reasons, from an insupportable pileup of loans gone bad (non-performing assets or NPAs in banking parlance) to outright fraud to cronyism or worse. The rot is endemic, has hit banks small and big, including some well-regarded names, and is by no means limited to the public sector. If government-owned banks like Punjab National Bank (PNB) and State Bank of India (SBI) have embarrassed themselves, names like YES Bank and ICICI Bank in the private sector have also made headlines for the wrong reasons. The list of banks of dubious honour is long, including, most recently, Lakshmi Vilas Bank (LV Bank), which the RBI (Reserve Bank of India) had to step in to bail out. The Covid-19 pandemic has aggravated the crisis by another order of magnitude, with the government-mandated moratorium on interest payments
Nearly 48% of sugar mills operating in Maharashtra privately-owned
December 14, 2020
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In the last decade, the number of private sugar mills has risen constantly, thanks to ailing cooperatives dominated by politicos, say experts
In 1951, India’s first cooperative sugar mill was set up at Pravaranagar in Ahmednagar district and the cooperative movement since gained roots in the State. However, financial mismanagement, lack of professional approach and mills becoming a source of finance to cater to ambitions of politicians has been ailing the cooperative sugar mills.
Today, the sugar cooperative is losing its space to private players. Out of 171 sugar mills operating this season, 48 per cent (82 mills) are private.