(MC) Indian banks need to carefully monitor the gap between credit and deposit growth to avoid a potential structural liquidity issue, the governor of the Reserve Bank of India (RBI) said. “Young Indians are aspirational. They get attracted to different markets. There is nothing wrong in it, it’s a natural process and a positive development,” Shaktikanta Das told. “We are cautioning banks to monitor this situation carefully. There is no problem now, but it can become a structural liquidity problem in the future.” Indian banks’ loans rose 13.7% as of July 26 from a year earlier, while deposits grew 10.6%, latest…
Author: Aruna Sharma
(PSU Connect) The Overseas arm of Oil and Natural Gas Corporation (ONGC), ONGC Videsh Ltd has been granted a 16-year extension for oil and gas production in Vietnam, along with a three-year extension for exploration in the South China Sea. Vietnamese authorities have extended the production sharing contract (PSC) for producing Block 06.1 in the offshore Nam Con Son basin until 2039. Furthermore, an eighth extension has been granted for oil and gas exploration in Block 128 in the South China Sea. ONGC Videsh holds a 45% stake in Block 06.1, which yields about 1 million tonnes of oil and oil equivalent gas. The block…
(IE) AIIMS Delhi on Tuesday issued guidelines for handling suspected Monkeypox patients and allocated five beds for treatment in isolation. The standard operating procedures (SOP) stated that the suspected patients should be immediately placed in a designated isolation area to minimise contact with other patients and staff. The World Health Organization (WHO) has declared Monkeypox outbreak as a public health emergency of international concern, raising the need for heightened awareness of the disease, rapid identification, and stringent infection control measures to prevent further spread, the Centre-run institute said in a statement. According to the AIIMS SOP document, Monkeypox is a viral zoonosis with symptoms…
(Indian Express) Finance Minister Nirmala Sitharaman on Monday asked public sector banks (PSBs) to launch special drives to mobilise deposits by ‘connecting’ with customers with a view to narrowing the widening credit-deposit gap. She also told them to expedite the rollout of a new credit assessment model for MSMEs, based on their digital footprints and step up loans to beneficiaries for government schemes like household rooftop solar programme. During a review performance with the PSB chiefs, Sitharaman said mobilisation of deposits could further be improved to fund the credit growth sustainably. She also advised PSBs to have better customer relationships…
(NDTV Profit) In a move aimed at making rights issues a more attractive and efficient mode of fundraising, the Securities and Exchange Board of India on Tuesday issued several proposed changes to the current regulatory framework. One of the key proposals is to discontinue the requirement for companies to file a draft letter of offer with SEBI for its observations. Instead, SEBI suggests that only essential information related to the rights issue—such as the purpose of the issue, pricing, record date, and entitlement ratio—needs to be disclosed. This shift is expected to simplify the process and reduce the time taken for…
(FE) Hi-Tech Pipes, a steel tubes and pipes manufacturer, acquired an order for supplying ERW steel Pipes, totaling Rs 105 Crores from its customers in the renewable energy sector. According to the company, the company’s new facility equipped with upgraded technology and located in Sanand in Gujarat will help cater to this demand within next three months. The steel pipes would be used for wind farms, solar installations and other green energy projects. Commenting on the order win, Ajay Kumar Bansal, Chairman, Hi-Tech Pipes said, “We are thrilled to be chosen as a preferred supplier of ERW Steel pipes for such a pivotal sector.…
Indian telecom sector has witnessed remarkable growth during the financial year 2023-2024, as highlighted in the annual report released by the Telecom Regulatory Authority of India (TRAI). The report highlights significant growth trends and key parameters across various services. The Report has been prepared based on the information furnished by the Service Providers. The report shows that the overall tele-density in India increased from 84.51% at the end of March 2023 to 85.69% at the end of March 2024 at yearly rate of growth of 1.39%. Key findings in the report: Surge in Total Internet Subscribers: Total number of internet subscribers increased from…
South Eastern Coalfields Limited (SECL), a leading subsidiary of Coal India Limited (CIL), has made significant strides in environmental sustainability through the successful implementation of the Accredited Compensatory Afforestation (ACA) guidelines issued by the Ministry of Environment, Forest and Climate Change (MoEF&CC) for increasing forest cover and promoting afforestation on non-forest lands, thereby contributing to national environmental goals and earning valuable carbon credits. Coal mining projects often require forest land, necessitating Forestry Clearance (FC) as part of the environmental approval process. A major challenge in securing these clearances is the identification of suitable Compensatory Afforestation (CA) land. In response, the…
After cracking down on the drug mafia in Uttar Pradesh through extensive police and administrative operations, Chief Minister Yogi Adityanath is now focused on raising awareness among children to keep them from falling into the trap of drug abuse. In this effort, approximately 1.40 crore students and teachers from council schools took a pledge on Monday morning to make Uttar Pradesh drug-free. The oath taking ceremony took place at all the council schools at 9 am. Basic Education Minister (Independent Charge) Sandeep Singh stated, “Under the leadership of Chief Minister Yogi Adityanathji, 1.40 crore students and teachers across all council…
35,000 से अधिक युवाओं ने कराया मुख्यमंत्री अप्रेंटिसशिप प्रोत्साहन योजना के लिए पंजीकरण -वित्त वर्ष 2024-25 में उत्तर प्रदेश में मुख्यमंत्री शिक्षुता प्रोत्साहन योजना (उच्च शिक्षा) को मिल रही सकारात्मक प्रतिक्रिया -कौशल विकास के माध्यम से विभिन्न विषयों के डिप्लोमा और डिग्री धारकों को लाभकारी रोजगार के अवसरों से योगी सरकार ने जोड़ा -वित्त वर्ष 2024-25 में चिकित्सा, स्वास्थ्य, एमएसएमई, रीटेल और शिक्षा क्षेत्रों में प्रशिक्षण प्रदान करने पर ध्यान किया गया केंद्रित -स्नातकों के लिए न्यूनतम मासिक स्टाइपेंड 9,000 रुपये व डिप्लोमा धारकों के लिए 8,000 रुपये निर्धारित, प्रशिक्षुओं को अतिरिक्त 1,000 रुपये दे रही योगी सरकार लखनऊ, 12…