The Goods and Services Taxes (GST) has been in operation since July 1, 2017. The GST was projected as a revolutionary indirect tax reform in the country. The purposes of implementing the GST have been many. The main projected advantages were to ensure an increase in GDP, reducing inflation, guarante...
The first quarter (April to June) GDP of financial year 2020-21 witnessed a contraction of 23.9% which is the worst among the world’s top economies. In nominal terms, contraction from Rs 35.35 lakh crore in 2019-20 to `26.90 lakh crore in 2020-21 (for April to June quarters), indicates the onset o...
The Covid-19 has had a debilitating impact on non-banking finance companies (NBFCs). While the government and the Reserve Bank of India (RBI) have initiated a number of steps to cushion the impact of the pandemic, it appears that the measures announced so far are not sufficient. Srei, one of th...
Company BackgroundBandhan Bank Ltd. (BBL) incorporated in 2014 as a wholly owned subsidiary of Bandhan Financial Holdings Ltd. (BFHL), headquartered in Kolkata.BBL is the first bank to be set up in the eastern part of India after Independence and is promoted by its founder, MD and CEO Mr. Chandra Sh...
A combination of the disruption caused by the Covid-19 induced lockdown, a decelerating economy, and rising NPAs in the financial system had heightened the demand for a one-time loan restructuring window for some time now. The Reserve Bank of India's (RBI) monetary policy in August came ...
Prime Minister Narendra Modi while addressing the ‘India Ideas Summit’ organised by the US-India Business Council (USIBC) emphasised that India is an open economy with no shortage of opportunities and options. He also stated that this is the best time to invest in India. But this optimism contra...
In India, Micro Small and Medium Enterprises (MSMEs) were defined for the first time by the MSME Development Act of 2006. The two criteria for defining MSMEs were investment in plant and equipment for manufacturing and investment in equipment for services. Investments in land and building, cos...
Should India’s policy-makers celebrate the unprecedented rise in foreign exchange reserves in recent months or should they worry about finding gainful avenues to utilise the fund? The country's foreign exchange reserves swelled to an all-time high of $516.36 billion in the week to July 10 from $51...
Recently, the Indian President Ram Nath Kovind approved an ordinance by the Union cabinet that seeks to amend the Banking Regulation Act of 1949. The amendments are applicable to urban cooperative banks (UCBs) and seek to bring the UCBs under the supervision of the Reserve Bank of India (RBI)....
The Covid-19 pandemic has created devastation. According to the International Labour Organization's (ILO), over 2.5 crore jobs across the world would be vulnerable due to the spread of the virus. The ILO has described Covid-19 as the worst global crisis since the Second World War. A major chun...
