Nirmala Sitharaman will hold a special meeting with the country's public sector banks on Monday

-


New delhi date. May 9, 2020, Saturday

Finance Minister Nirmala Sitaram has scheduled a meeting with state-owned banks on Monday (May 11) to review whether the industries have started getting credit as the lockdown of Corona has eased in many parts of the country.

The purpose of the meeting is to find out the reason behind banks keeping their surplus money with the banking sector regulator i.e. the Reserve Bank and why they are not willing to lend money to non-banking finance companies (NBFCs).

The finance minister will also get an estimate of who the banks have lent money to since March 1, 2020 and whether they have started lending money to anyone following the Corona epidemic.

The Reserve Bank has made liquidity available to banks through Targeted Long Term Repo Operations (TLTRO). Despite providing Rs 2,000 crore to banks, bids have been received from banks for only half of it. Therefore, the Finance Minister is going to have a special discussion on this issue. The fact that banks have not taken full advantage of the situation means that they are reluctant to lend money to non-banking finance companies.

In addition to looking at how much money has been lent to non-banking finance companies, there will also be a discussion on how much money has been given to others and how much money banks have kept in the Reserve Bank under reverse repo.

It is pertinent to mention here that banks have kept Rs 2.5 trillion with the Reserve Bank through reverse repo.

Banks have sanctioned loans to companies, but the amount has not been transferred to them as the business has not started. That is why banks have kept a large amount of money with the Reserve Bank. According to the finance ministry, state-owned banks sanctioned loans worth Rs 2.7 trillion in March-April.

Comments

Post a Comment

Popular posts from this blog

Covid-19 effect: Significant increase in demand for second hand cars in the country

-
Image
Mumbai, May 26, 2020, Tuesday As lockdowns are being phased out across the country, the use of private vehicles using public transport to reach their destinations is on the rise. The increasing use of private vehicles has also increased the demand for cars, especially secondhand cars. Demand for second-hand cars is unprecedented. Inquiries for second-hand cars have almost doubled during the lockdown period compared to the time before the lockdown, according to a survey of about 100 dealers and car buyers. Demand for used cars at dealers has been strong in the last few weeks, and is expected to grow as the lockdown eases. Consumers are increasingly interested in buying second-hand cars, especially smaller ones, due to lower income levels and health-related safety, said an organized second-hand car dealer. Inquiries for a particular vehicle, which used to be around 15 per cent before the lockdown, have now doubled to 5 per cent. Inquiries for new vehicles have fallen from 21 per cen...
Read more

Information about soymilk and casein products

-
Image
- Industrial guidance - Dhiru Parekh Soymilk: Soybeans are converted to high-quality protein. So that high quality drinks can be made which can be easily digested. There is no difference between soymilk and cow's milk. So the conservative industries of milk processing are now using this milk to make yogurt and ice cream. Consumers also cannot tell the difference between ice cream made from cow's milk and from soy milk. Also, the production capacity of soy milk can be increased than that of cow's milk. And the price can be cheaper. Soybeans mainly contain two types of enzymes that are inactivated in the soymilk process. Leukoxidase that catalyzes the oxidation of fatty acids. And enzymes like pepsin, trypepsin are included in it. Which helps in digesting protein. Soyamilk powder manufacturing process: This is an electric pre-heater system. which basically allows fluid to flow easily in a stationless tube under low-voltages. which absorbs the energy flowing through the Ja...
Read more

Due to the ban, employment and economic activity declined by two to three percent

-
Image
New delhi date. October 7, 2019, Monday A new study has found that employment and economic activity have declined by two to three percent due to the ban. A similar situation has been observed in bank lending. The study found the decline to occur within two months of the notation announced on November 7. This is the first research on demineralization in which data on the effects of districts across India were collected. In addition to the districts, the effect of national level was also studied. Previous studies only examined the national level effect of demonitization. Thus, a full estimate of the overall effect is not known. As a result of the shortage of cash arising out of the blockade, the country's economic activity fell by approximately 8 percent in November-December 2 In the October-December period, bank credit has seen an impact of around two per cent. Cash pulls have impacted demand for a short period. The study found that there was a strong link between money and pro...
Read more