- The 12th edition of the Hyderabad Marathon August 27th this year
- TDP Mahanadu: Chandrababu releases manifesto under the name Bhavishyat ki Guarantee
- Chandrababu Naidu arrives at TDP Mahanadu public meeting, to address the gathering
- TDP Mahanadu: All set for huge public meeting, Naidu to arrive at venue shortly
- Shaakuntalam Bags A Total Of 4 Awards At Prestigious Cannes World Film Festival Awards 2023
- Kodali Nani pays tribute to NTR, challenges Naidu, Lokesh to contest from Gannavaram
- Rajinikanth, Anupam Kher And SRK Praise PM Modi On The Occasion Of New Parliament Inauguration
- Modi pays tribute to NTR at 101st Mann ki Baat, says he earned place in hearts of people
- Sharwanand Drops A Tweet And Confirms That He Met With A Minor Car Accident
- 'DJ Tillu' Fame Praneeth Reddy Says, ‘I Want To Hold A Versatile ‘Tag’, Rather Than Being The Lead Actor
A well-conceived Budget
While there was intense speculation about what the Union Budget would do for the beleaguered banking and financial sector, the Finance Minister...
While there was intense speculation about what the Union Budget would do for the beleaguered banking and financial sector, the Finance Minister announced a hefty Rs 70,000 crore recapitalisation plan for public sector banks. According to Nirmala Sitharaman, the banks were being recapitalised since legacy issues had been addressed.
Credit growth was at 13.8 per cent now and the financial gains from cleaning of the banking system are now "amply visible". Non-performing assets (NPAs) of commercial banks, Sitharaman pointed out, have reduced by over Rs 1 lakh crore over the last year, and record recovery of over Rs 4 lakh crore due to the Insolvency and Bankruptcy Code (IBC) and other measures have been effected over the last four years, provision coverage ratio is now at its highest in seven years, and domestic credit growth has risen to 13.8 per cent.
The government has smoothly carried out consolidation, reducing the number of public sector banks by eight. At the same time, as many as six public sector banks have been enabled to come out of the Prompt Corrective Action framework. The regulations around NBFCs will also be tightened so that the Reserve Bank of India (RBI) has better oversight on them. The regulation of housing finance companies will also move to the RBI. In all a well thought of Budget!
-Padmavathi Vadlamudi, Hyderabad