SBI survey snows rural poverty decline
Overall, poverty levels now stand in the range of 4-4.5%. The sharp decline in rural poverty ratio is on account of higher consumption growth in lowest 0-5% decile with significant Government support, the survey said.
VFS Capital Ltd seeks small finance bank permit
VFS Capital, previously known as Village Financial Services Private and headquartered in West Bengal, was incorporated in 1994 as a non-deposit taking non-banking financial company-microfinance institution (NBFC-MFI).
J&K Bank appoints Amitava Chatterjee as its new MD
Chatterjee will replace Baldev Prakash, whose term comes to an end on December 29.
MPC minutes show demarcation in views, says Emkay Economist
The December MPC meeting minutes showed a clear demarcation in views between the internal and (most of) the external members. Dr Kumar and Professor Singh, while calling for a repo rate cut, spoke of the lack of impact of monetary policy on supply-shock led food inflation, while mentioning its effect on consumption and investment demand.
Full text: Minutes of the Monetary Policy Committee Meeting
The fifty second meeting of the Monetary Policy Committee (MPC), constituted under Section 45ZB of the Reserve Bank of India Act, 1934, was held during December 4 to 6, 2024.
RBI imposes penalty on IndusInd, Manappuram Finance
In the case of IndusInd Bank, the RBI said the Rs 27.30 lakh penalty is imposed for non-compliance with certain provisions of ‘Reserve Bank of India (Interest Rate on Deposits) Directions, 2016’. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47A(1)(c) read with Section 46(4)(i) of the Banking Regulation Act, 1949.
PLI scheme: Selective approach on performance incentive unacceptable, says AIBEA in letter to Government
“It risks fragmentation of the workforce and impairing the collective growth and harmony, which is paramount and essential for any organizational growth and sustainable success,” C H Venkatachalam, general secretary of AIBEA said in the letter.
CPI inflation bounce back to 6.2 % in October
Subdued global commodity prices amid concerns over global demand should further aid in moderation of the headline inflation going ahead. In October, global commodity price index declined by 4.3% YoY, while Brent crude prices fell by 15% YoY. However, it is crucial to monitor geopolitical developments closely, as these could significantly influence global commodity markets and supply chains.
Demonetisation anniversary: A political thriller turns 8
The much-hyped demonetisation has failed to break real estate’s love for black money, per a recent survey. Black money continues to be dominant in real estate.
Banker attacked by kin of a borrower; employee unions seek action
The banker was thrashed by son of a borrower at the branch, according to an AIBEA note.
“We strongly condemn the brutal attack on Mr. Kashyap Officer IOB by son of a borrower of Indian overseas Bank, Karad branch, Pune with koyta knife,” said an AIBEA post.