"The cleaning up of bank balance sheets, and the restoration of credit growth are vital, related elements in the growth agenda," the governor said.
Aadhar Housing Finance and DHFL Housing Finance -- both subsidiaries of Dewan Housing Finance -- will be merged into one to create a pan-India company to finance affordable housing.
Sticky loans originating from the corporate sector pulled back banks' profitability thereby pushing the lenders to compete with each other.
Spandana needed to restructure its debt following Andhra Pradesh microfinance crisis, triggered by reports of suicides of some over-indebted people in 2010.
There are things such as the development of derivatives market and getting more people into the financial system which remain inconclusive.
If they plan to raise public funds or intend to have customer interface in the future, they will be required to take a fresh approval.
Textile sector, which carries Rs 203900 crore of bank loans, is reeling under high stress due to low demand, inconsistent profitability and below average returns.
He is the man whom you would love to work for. And he is the man in whom you would trust your money.
Jaitley also said that there is complete consensus that there should be no constitutional cap on GST rate as was proposed by Congress.
Reserve Bank of India data showed that banks’ total exposure to this sector shrunk to Rs 70,400 crore at the end of April, reflecting a 1.5% year-on year fall.
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