India within striking distance of attaining positive growth: RBI

24 Janvier, 2021, 17:27 | Auteur: Auguste Feret
  • NBFCs regulation RBI NPAs Reserve Bank of India non-performing assets RBI four tier structure economy news Indian express news

Barring a second COVID-19 wave, the worst is over for the economy and policymakers may soon have more room to support a recovery, the Reserve Bank of India recently said.

"In view of the recent stress in the sector, it has become imperative to reexamine the suitability of this regulatory approach, especially when failure of an extremely large NBFC can precipitate systemic risks", said the paper by the Reserve Bank of India (RBI).

It pointed out: "What will 2021 look like?"

On January 16, India launched the biggest vaccination drive in the world, backed by its comparative advantage of having the largest vaccine manufacturing capacity in the world and a rich experience of mass inoculation drives against polio and measles.

While NBFCs are under RBI's regulation since 1964, the central bank introduced a comprehensive regulatory framework for the systemically important NBFCs in 2006, which was further refined in 2014.

Once identified as NBFC-UL, the NBFC will be advised individually about its classification as a NBFC-UL and that it will be subjected to regulation akin to banks, the RBI said.

US carrier group enters South China Sea amid Taiwan tensions
During Trump's four years in office, China became increasingly concerned over growing USA support for the East Asian island. China says it has been carrying out exercises to defend the country's sovereignty and security.

Chinese mainland reports 80 new COVID-19 cases
Globally, the virus has killed more than two million people, infected tens of millions of others and hammered economies. Now, the activity on the streets attests to an impressive rebound, but some say it remains incomplete.

New Zealand confirms 1st case of community virus transmission in two months
The woman tested negative on January 2 and 10 in managed isolation, and was released on January 13, after which she went home. More than 600 people who had spent time in the hotel have been asked to self-isolate and be re-tested for Covid-19.

E-commerce and digital technologies will likely be the bright spots in India's recovery in a world in which there will be rebounds for sure, but pre-pandemic levels of output and employment are a long way off, they said.

The recent shifts in the macroeconomic landscape in India has brightened the outlook, with GDP "in striking distance of attaining positive territory", and inflation easing closer to the target.

"Cost of compliance to rules and regulations should be perceived as an investment as any inadequacy in this regard will prove to be detrimental", RBI Governor Shaktikanta Das had said in a speech last Saturday referring to increased regulation in recent years for banks and shadow lenders.

"After considering the bank's reply to the notice and oral submissions made in the personal hearing, RBI concluded that the charge of non-compliance with aforesaid RBI directions was substantiated and warranted imposition of monetary penalty", the statement said. "Harnessing the synergies by transforming low-value semi-processed agri products through food processing would not only improve productivity, but also boost India's competitiveness", the bulletin pointed out.

The article, however, had a message for finance minister Nirmala Sitharaman who is set to present the budget on February 1.

The RBI had issued new Rs 100 notes in lavender colour with the motif of "Rani ki vav" - a stepwell located on the banks of Saraswati river in Gujarat's Patan.



Previous NBC Sports Network Will Come To An End By 2022
NBC plans to shut down its NBC Sports Network by the end of the year according to a report from the Sports Business Journal . Premier League deals are usually for three years, but NBC secured a six-year package in 2015 by paying almost $1 billion.

Amanda Gorman, l'ambitieuse poétesse qui a bluffé l'Amérique
Poète dans l'âme, Amanda avait été désignée Poétesse lauréate junior de la ville de Los Angeles en 2014 alors âgé de 16 ans. Brillante, elle rejoint les bancs de Harvard où elle étudie la sociologie, sans perdre de vue son goût pour la poésie.

274 new cases of COVID-19 in Sask; 3 additional deaths
The three people were from the north central zone, far northeast zone and far northwest zone. You can find the maps and the breakdown of cases by region on the government's website .

Scottish leader vows to hold 'legal' independence vote
She added if there was a vote on Irish unity, the arguments for the union are "rational, logical, and they will win through". She said most people in Northern Ireland wanted politicians to "settle down" and deal with the pandemic.

Au Canada, la colchicine, un traitement qui redonne espoir — Coronavirus
L'étude, menée au Canada, aux Etats-Unis, en Europe, en Amérique du Sud et en Afrique du Sud, a porté sur 4.488 patients.

Michael Owen predicts Cheltenham Town v Man City
It was Phil Foden who helped change the game, though, with his equaliser sparking a comeback in the closing stages. But Cheltenham were far from overwhelmed and posed plenty of problems at the other end with their direct style.

Steve Harvey's Hilarious Reaction To Daughter Lori's Relationship With Michael B. Jordan
Steve Harvey really wanted his audience and the couple's fans to know that he likes Jordan when asked about it. On a recent episode of the Steve Harvey Morning Show , Steve said, "I like this one.

Injuries no problem, Maple Leafs step up to beat Oilers
Matthews's injury is believed to be "precautionary and short-term" according to Sportsnet's Chris Johnston. The Kerfoot line was especially sharp at 5-on-5 and strengthened as the game progressed.

Aouar et Cornet forfaits pour le derby contre Saint-Etienne — OL
Un derby qui s'annonce bouillant pour lequel Rudi Garcia a confié qu'il devra composer avec trois absents. Dans l'entrejeu, Maxwell Cornet et Houssem Aouar ne devraient pas être disponibles à Geoffroy-Guichard.

Eddie Nketiah Starts - Arsenal Team vs Southampton Confirmed
Arteta has made wholesale changes in attack with Nicolas Pepe, Willian and Gabriel Martinelli all recalled for Arsenal today. With that in mind, Arteta opted to field a team without some of his usual starters and in-form players.