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India needs more profitable, robust banks: Minister (IANS Exclusive) By IANS|   Published: 5th February 2021 8:31 pm IST New Delhi, Feb 5 : India needs more profitable and robust banks to fully meet the growing demand and privatisation of two state-run lenders is a move in that direction, Minister of State for Finance, Anurag Thakur, told IANS. In a post-Budget exclusive conversation with IANS, Thakur elaborated on the need for public sector banks to become more profitable, as the Centre cannot recapitalise them every year. Notably, banking sector reforms have been a major talking point of B...

Lending Re-boot: Bad Bank expected to absorb Rs 2 lk cr NPAs ​ By IANS | Published on ​ Thu, Feb 4 2021 16:06 IST | ​ 0 Views KV Subramanian. (File Photo: IANS). Image Source: IANS News New Delhi, Feb 4 : India's growth is set to further accelerate on the back of the path breaking plan to set up a 'Bad Bank', which is expected to absorb Rs 2 lakh crore worth of non-performing assets (NPA). Accordingly, the process is expected to clean up banks' books and allow them to lend more freely. According to the Finance Ministry's Chief Economic Advisor Krishnamurthy Venkata Subramanian, the...

To boost infra creation, the Centre will move a special legislation which will enact a public sector development finance institution (DFI) besides enabling private players to enter this niche financial segment.In a conversation with IANS, the ...

Big Bang: LIC IPO to lend sparkle to markets this Diwali ​ By IANS | Published on ​ Thu, Feb 4 2021 18:06 IST | ​ 0 Views   Life Insurance Corporation of India building, New Delhi. (File Photo: IANS). Image Source: IANS News New Delhi, Feb 4 : The much-anticipated IPO of public sector insurer Life Insurance Corp of India (LIC) may well lend more sparkle to the Indian stock markets this Diwali. Speaking to IANS, Disinvestment Secretary Tuhin Kanta Pandey noted the fact that LIC is a complex undertaking but the government is up to the challenge and will complete the market offering ...

Govt eliminates kerosene subsidy, LPG support halved   Tue, Feb 02 2021 08:43:55 PM Subhash Narayan New Delhi, Feb 2 (IANS): The Covid-induced demand suppression and subdued global oil prices have helped the central government to move rapidly in the direction of complete elimination of fuel subsidy. While kerosene subsidy has been brought to a naught in Budget 2021-22, payment of subsidy under direct benefit transfer (DBT) scheme towards domestic cooking gas has been brought down to less than half of FY21 levels. As per this year's budget, DBT transfer towards LPG subsidy has been brought d...