The RBI central board on Friday discussed policy framework for cooperative banks, NBFCs, current economic situation and domestic and global challenges. The board's discussions focused on issues related to urban cooperative banks, extension of enforcement policy and framework to cooperative banks and NBFCs, the RBI said in a statement. "The
The fortunes of India’s shadow banks are showing tentative signs of recovery, indicating that a prolonged credit crisis may be beginning to ease. Two of four indicators compiled by Bloomberg that reflect the state of non-bank financial companies strengthened last month from October. A measure of top-rated five-year bond spreads got better, showing that shadow lenders’ borrowing costs
Reserve Bank Governor Shaktikanta Das on Thursday said the market had differentiated between the good and not-so-good non-banking financial companies (NBFCs) and the better-performing firms were able to access funds at pre-IL&FS rates. Currently, “good NBFCs” are able to raise three months commercial paper (CP) at 5-6 per cent interest rate, but the not-so-good
"An NBFC should conduct stress-tests on a regular basis for a variety of short-term and protracted NBFC-specific and market-wide stress scenarios," the RBI said.
On sept 20th 2019 the Finance Minister surprised everybody a pleasant surprise indeed when she came out and made a series of announcements to revive a sagging economy. This was the government's decision to reduce the corporate income tax rate from about 30% to an effective rate of twenty 25.17% this has been an assistant
Despite the few drawbacks of setting up a company in Hong Kong such as the need to travel to Hong Kong to open a corporate bank account, rising expat packages, and the low quality of conversational English, Hong Kong is still one of the key investment locations for businesses looking to enter the Asian market.
GST Council in the 37th meeting held on 20.09.2019 at Goa took the following decisions in respect to rates relating to goods. 01. GST rates reduction, - a) 18% to 12% on parts of Slide Fasteners b) 18% to 5% on Marine Fuel 0.5% (FO) c) 12% to 5% on Wet Grinders (consisting stone as
SIDBI Loan for MSME New scheme of SIDBI "SPEED" for machinery purchase for MSME To facilitate the flow of credit to Micro Small and Medium Enterprises (MSMEs) for investing in machineries, Small industrial Development Bank of India (SIDBI) has recently launched the new scheme called SIDBI-Loan for Purchase of Equipment for Enterprise Development (SPEED) for
The Big Direct Tax Reforms 2019 By Modi Government 2.0 Writing a new income tax - It has been attempted several times before in the last 3 decades but only to fall by the wayside ... in the last decade twice the then Finance Ministers Mr. Chidambaram and Mr. Pranab Mukherjee tried to leave their
For the past two years, Chinese enterprises are expanding their worldwide presence by overseas investment. India, as the new node of the Belt and Road Initiatives, which has natural geographical advantages, not only possesses high potential market environment but also occupies stronger development advantage in many areas. The overseas investment strategy of Chinese enterprises is