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India needs to double credit growth to 15% to achieve $5 trillion economy target by FY25: Bankers
•Prime Minister Narendra Modi on Thursday underlined the need for working together to make India a $5 trillion economy, while stressing that the government has been able to maintain macroeconomic stability amid tough global environment.
Top 50 corporates reduce debt by over Rs 59,000 cr in first half of this fiscal; prefer to raise funds through ECBs
•This has some bearing on the credit growth of the banks as corporates borrowing from domestic lenders have come down
Daily Bulletin: Voting begins in 15 seats vacated by Congress, JD(S) rebels in Karnataka; RBI MPC likely to slash repo rate for sixth time in a row; day's top stories
Fp Staff •Here are day's top stories: Karnataka bypolls: Election for 15 seats vacated by Congress, JD(S) rebels today; contest ego battle for opposition, survival for BJP; P Chidambaram to hold presser at 12:30 pm, likely to attend Parliament today after bail in INX Media case ; and more
RBI monetary policy: MPC may be readying to fire its final weapon; likely a wrong one, aimed at a faraway target
Dinesh Unnikrishnan123 •The MPC needs to be watchful of the inflation scenario. It cannot solely focus on growth, even if that would be what the ruling BJP government would want from the MPC at this juncture.
Credit growth picks up rapid pace from September, jumps by Rs 1.08 lakh cr; housing, NBFC, MSME provide boost: SBI study
•The monthly SBI Composite index remained volatile and was at 50.83 (low growth) in October compared to 51 (low growth) in September.
Credit growth at banks falls to lowest level in nearly two years as slowing consumption weighs on demand: RBI report
•Lending growth by banks had nearly halved to 8.8 percent at the end-September from the start of the year.
RBI monetary policies have become a joke to individual borrowers and small businessmen; here's why
Dinesh Unnikrishnan123 •Despite the 135 basis points cut in repo rate, at which the Reserve Bank of India (RBI) lends short-term funds to banks, banks have lowered only 30-40 bps to their borrowers
No stressed MSME loan can be declared NPA till March 2020; govt asks banks to hold loan melas in 400 districts from 3 Oct
•Bank loan disbursements to the MSME sector stood at Rs 11.83 lakh crore in 2018-19, as against Rs 8.53 lakh crore done in 2017-18
Public sector banks' merger to act as building block for $5 trillion economy target, says Finance Secretary Rajiv Kumar
•The government on Friday unveiled a mega plan to merge 10 public sector banks into four as part of plans to create fewer and stronger global-sized lenders
Central Bank to raise upto Rs 3,000 cr capital from markets; to come out with repo-linked retail products in September
Fp Staff •The Central Bank has also made a funding request to the government from the Rs 70,000-crore it has budgeted