Banking system being punished today for deeds between 2008-2014, says FM Arun Jaitley while hitting out at the Congress-led UPA regime for the poor health of Public Sector Banks. 'Lamhon ne khata ki, sadiyon ne sazaa paai,' the minister quips during his keynote speech at The Economic Times Awards for Corporate Excellence 2018 in Mumbai. Listen-in.
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Banking system being punished today for deeds between 2008-2014, says FM Arun Jaitley while hitting out at the Congress-led UPA regime for the poor health of Public Sector Banks. 'Lamhon ne khata ki, sadiyon ne sazaa paai,' the minister quips during his keynote speech at The Economic Times Awards for Corporate Excellence 2018 in Mumbai. Listen-in.
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आम आदमी पार्टी ने कुमार विश्वास के बीजेपी में जाने की अटकलों को खारिज किया है. खुद कुमार विश्वास ने इन्हें अफवाह करार दिया। दरअसल ऐसी ख़बरें थी कि विश्वास जल्द ही केजरीवाल का साथ छोड़ कर भाजपा में शामिल हो सकते हैं, लेकिन विश्वास ने इन अटकलों को खारिज करते हुए कहा कि इन खबरों में कोई सच्चाई नहीं है। विश्वास ने भाजपा पर तंज कसते हुए कहा कि मुझे भी खबर मिली है कि प्रधानमत्री नरेंद्र मोदी टीडीपी में शामिल होने वाले हैं। वहीं मनीष सिसोदिया ने भी कहा कि ये सब अफवाहें हैं। सिसोदिया ने कहा कि मुझे भी सुनने में आया है कि कि पीएम कांग्रेस में जा रहे हैं और इसके लिए राहुल गांधी से उनकी मुलाकात भी हो चुकी है। कयास लगाए जा रहे थे कि बीजेपी विश्वास को आगामी उत्तर प्रदेश विधानसभा चुनावों में भी उतार सकती है। कहा जा रहा था कि विश्वास ने गाजियाबाद जिले की साहिबाबाद सीट से विधानसभा चुनाव लड़ने की इच्छा जताई थी। ज्ञात हो कि कुमार विश्वास ने आप के टिकट पर अमेठी लोकसभा सीट से राहुल गांधी और स्मृति ईरानी के खिलाफ चुनाव लड़ा था। तो कुमार विश्वास बीजेपी में शामिल नहीं हो रहे है।
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Aiims में भर्ती Arun Jaitley की हालत बेहद नाजुक || Arun Jaitley Health Live Updates ||
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Finance Minister Nirmala Sitharaman on Friday announced upfront capital infusion of Rs 70,000 crore into public sector banks, a move aimed at boosting lending and improving liquidity situation.The move is expected to generate an additional lending and liquidity in the financial system to the tune of Rs 5 lakh crore, she said at a press conference.The finance minister further said that banks have decided to pass on RBI rate cut benefits to borrowers through MCLR reduction.Sitharaman said that banks will launch repo rate and external benchmark-linked loan products that will lead to reduced easy monthly installments for housing, vehicle and other retail loans.'Working capital loans for the industry will also become cheaper,' the minister said
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When Finance Minister Nirmala Sitharaman last Friday announced the merger of 10 banks into 4, she was translating into action a tiered banking blueprint suggested in 1991 by Maidavolu Narasimham, who holds the distinction of being the only RBI cadre official to have headed the regulator. As chair of the 1991 Committee on the Financial System – he also led the 1998 Committee of Banking Sector Reforms – Narasimham had argued in favour of three-four mega banks at the top of the pyramid, supported by a wider base of last-mile financiers. Tune in as ET's Saloni Shukla brings you a lowdown of the key takeaways of Modi government's PSB merger drive and shares insight on what does the move mean for the banking industry and the economy going forward. (Text: ET Bureau)
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Watch Govt's mega PSB merger drive: What does this mean for banking industry | Economic Times With HD Quality
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Talking of the current slowdown, he said signs were visible as early as February, and that 35 bps rate cut was necessary given the circumstances. Both counter-cyclical measures and structural reforms would be needed to tackle the slowdown, he added.On PSB mergers, Das said the exercise will create stronger entities because larger banks have greater leverage and reach.On bank interest rates, Das said the decision on spreads has now been left entirely to banks, to ensure faster transmission. The RBI didn't arm-twist any bank into adopting external benchmarks, he insisted.RBI hasn't asked any bank to lend or not lend to NBFCs; they will have to find market-based solutions to their problems, the Governor said.
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