Page-35 of Finance
Rs 35,000 Cr debt restructuring package for textile sector
The Centre agreed upon a Rs 35000 crore debt restructuring package to the textile sector. Step is taken to support the textile industry in this moment of crisis. The total outstanding debt of the textiles sector is Rs 1,55,809 crore ..
Month: Current Affairs - May, 2012
Axis Bank ties up with Ahli United Bank for remittance
Axis bank, the 3rd largest private sector lender tied up with Bahrain’s Ahli United Bank for inward remittances. What does this tie up would bring in for customers of Ahli United Bank? Any person having an a/c with Bahrain’s Ahli ..
Month: Current Affairs - May, 2012
India’s cash deficit to worsen: JP Morgan
J.P.Morgan held that: Since Govt spending remains half hearted, India’s liquidity deficit will decline more, hitting 1.5 lakh crore in June 2012. Core liquidity deficit could hit 1 lakh crore by the end of June, 2012. For this JP Morgan ..
Month: Current Affairs - May, 2012
Cabinet approves Micro Financial Sector (Development and Regulation) Bill, 2011
The Union Cabinet cleared the Micro Financial Sector (Development and Regulation) Bill, 2011, which will bring the microfinance industry under the regulatory ambit of RBI. As per the Bill all microfinance institution (MFIs) will now have to be registered with ..
Month: Current Affairs - May, 2012
Category: Government Schemes Current Affairs
Banks may need 5 lakh crore towards Basel III
In the wake of Basel III capital regulations declared by the RBI, the Indian banks would require Rs 3,90,000-5,00,000 crore capital over the next 6 years. As per initial estimates by bankers and rating agencies, out of this , the ..
Month: Current Affairs - May, 2012
EPF interest rate hiked to 8.6%
Interest rate on Employees’ Provident Fund will be increased from 8.25% to 8.6% in the current fiscal. The Employees’ Provident Fund Organisation (EPFO) had brought down the rate of interest to 8.25% for 2011-12 from 9.5% provided in 2010-11. The ..
Month: Current Affairs - April, 2012
Category: Government Schemes Current Affairs
RBI doubles home loan limit to Rs. 10 lakh to promote housing for low income groups
The RBI has doubled the limit for home loans from Rs 5,00,000 to Rs 10,00,000 for consideration under Priority Sector Lending. This move was taken by RBI in a bid to encourage housing for low income groups in key cities. ..
Month: Current Affairs - April, 2012
Standard & Poor’s lowers India’s rating outlook to negative, warns of downgrade
Standard and Poor’s (S&P), the Global rating agency has lowered India’s rating outlook to -ve citing slow progress on its fiscal situation, as well as deteriorating economic indicators. S&P has also warned of a further downgrade India’s rating in 2 ..