For about two weeks, the Union Finance Minister, Arun Jaitley, has been expressing his satisfaction over the turnaround of Indian economy. This has been the case, particularly after the Central Statistical Office’s (CSO) upward revision of the gross added value (GVA) and gross domestic produ...
Cheery news always tends to get dwarfed by depressing news. That is the news world’s counterpart of Gresham’s Law in economics: bad money drives out good money! The news on the economic health released on February 27 gladdened the policy makers and the public alike. The economy recor...
In the economic history of our country, there have been some significant developments in the formulation, enunciation and management of fiscal policies over the last decade. In this era, concerted efforts have been made to simplify the tax structure. Introduction of the Direct Tax Code (DTC) and GST...
United Bank of India has moved a step ahead towards Digital Banking by Launching “United e-Collect”, A digital Platform for Online Payment / Fee Collection Services. The Digital Product “United e-Collect” is launched by Pawan Bajaj, Managing Director & CEO in presence of Ashok Kumar Prad...
The 2018-19 Budget, presented to Parliament on January 31 will be debated and put to the vote before the new fiscal year beginning from April 1. Meanwhile, Reserve Bank of India (RBI)’s Monetary Policy Committee (MPC) held its sixth bi-monthly meeting on Feb 6-7 and decided upon the benchmark inte...
Different market reactions, yet strangely enough, they produced the same result. That happened early this month in the stock markets of two countries. One in the most advanced country with the largest GDP of $ 19.4 trillion and another in an emerging economy, the seventh largest now, pred...
With a lot of buzz about the Goods and Services Tax (GST) around, Uttarakhand Finance Minister Prakash Pant said that the GST Council decided to slash rates on 29 items, mainly handicrafts, to 0%. 49 other items have been rationalized. However, he also stated that no decision has been taken on simpl...
Company BackgroundPower Finance Corporation Ltd. (PFC), set up in the year 1986 is a Schedule-A Navratna CPSE (Central Public Sector Enterprises). It is a leading power sector public financial institution and is the largest infrastructure finance company in the country based on net worth. A non-bank...
The RBI has been imposing PCA (prompt corrective action) in carrying out banking activities against several Public Sector (PSBs) banks to recover their financial health and improve their book values. As of now there are 11 banks on which restrictions have been imposed. What are the bases of impositi...
A recent KPMG report titled ‘India’s gold loan market: Is the glitter fading?’ says that the organised gold loan market in India is expected to grow to over Rs 3 lakh crore by 2020 at a three-year compound annual growth rate (CAGR) of 13.7%. The report further cites the World Gold C...