While the EPFO data suggests that annualised new enrolments could be 106.2 lakh crore for FY’20, the SBI research team calculations show that actual annualised net new payroll could be 73.9 lakhs, about 21 per cent or 15.8 lakh lower than actual net new pay roll generated in FY’18.
Vehicle loans picked up by Rs 4,550 crore in October-November from Rs 1,292 crore in April-September.
India’s foreign exchange reserves rose by $64 billion in 2019 to touch $457.5 billion.
RBI added that it will continue to monitor asset quality, profitability and capital/net worth of UCBs.
The “in-principle” approval granted will be valid for 18 months to enable the applicant to comply with the requirements under the scheme, the Reserve Bank said in a release.
RBI had previously capped lending to a single borrower & raised priority sector lending requirements for UCBs
In the first half of the current fiscal, the CAD narrowed to 1.5 per cent of GDP from 2.6 per cent in the same period in FY2018-19 on the back of a reduction in the trade deficit. Trade deficit shrank to USD 84.3 billion in the first half of FY2019-20 from USD 95.8 billion last year, the RBI said.
UCBs cannot raise capital at a premium as their private sector counterparts do.
RBI is working on a plan to cap exposure limits for UCBs for a single borrower/party to 10%.
The extent of devolvement on DICGC in the event of all the banks ‘under direction’ or weak banks going into liquidation/ordered to be wound up, would be Rs 14098 crore as of end September, 2019, RBI said. The break-up would be Rs 3,414 crore in the case of state cooperative banks, district central cooperative banks and ₹10,684 crore in the case of UCBs including PMC Bank.
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