SBI led webinar on Indian budget evokes favourable response in Israel
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Last Updated: Mar 02, 2021, 12:41 PM IST
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Setting the tone of the interactive webinar, India s Ambassador to Israel, Sanjeev Singla, said, We have had a landmark budget that marks a directional change and leverages far-reaching reforms that the government is effecting to make our economy more resilient and competitive.
iStock It s important to apprise our Israeli business partners about our economy and the new opportunities. And that s what this webinar seeks to do, Singla added.
A webinar organised by State Bank of India, Israel-Asia & Israel-India Chambers of Commerce and the Indian mission in Tel Aviv on Monday evening to decipher the Indian budget announced last month has evoked favourable response from business leaders in Israel.
Read more about NBFC stress will ease from FY22 with recovery in the economy: Experts on Business Standard. The level of stress in the sector will be less intense as economic activity has been improving gradually
The report had said the asset quality of non-bank players is expected to deteriorate further due to disruption of business operations caused by the pandemic, especially in the industry sector, one of the major recipients of NBFC credit.
Rebooting Economy 66: Is India facing credit deprivation to warrant corporation banks?
RBI s database, reports and other evidence show India is credit surplus; large industrial houses have high debt stress, and that easy credit poses serious macro-financial risks to the economy
Prasanna Mohanty | February 10, 2021 | Updated 18:39 IST
What compromises the Indian economy further is India s repeated failure to resolve stressed assets over the past few decades
In November 2020, an internal working group (IWG) of the Reserve Bank of India (RBI) recommended that India s large industrial houses be allowed to run banks to increase credit-to-GDP ratio from the current level of 50% to more than 150%, in line with many developed economies, for higher growth. Now Prof. Arvind Panagariya, former Niti Aayog vice-chairman, is claiming that India faces acute problem of credit deprivation to support the same cause.