State Borrowings
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Using Borrowed Money To Give Free Electricity: Union Minister Attacks Punjab
Power Minister RK Singh has warned of a debt trap for states like Punjab using borrowed money to provide free electricity, saying such populist schemes are fine only if a state has finances.
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"States' Debt Affects Country's Rating": Centre On Kerala Borrowing Curbs
Uncontrolled borrowing by states would affect the credit rating of the whole country and the fiscal edifice of Kerala has been diagnosed with "several cracks", the Centre has told the Supreme Court.
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4 Lakh Crore In Debt, Madhya Pradesh Borrows Again To Meet BJP's Promises
Less than two weeks after he took oath, Madhya Pradesh Chief Minister Mohan Yadav has sought a Rs 2,000 crore loan from Reserve Bank of India (RBI) to meet the state's expenditures.
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Be Judicious In Using Flexibility On Interest Rates:Governor To NBFC-MFIs
Stating that some Non Banking Finance Company-Microfinance Institutions (NBFC-MFIs) are making wider net interest margins, RBI Governor Shaktikanta Das on Wednesday asked entities to be "judicious" in using the flexibility on the interest rates they charge from borrowers.
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SBI To Send Chocolates To Borrowers Likely To Default On Monthly Repayments
The nation's largest lender State Bank of India is adopting a novel way to ensure timely repayments, especially by its retail borrowers, by greeting those likely to default on monthly installments with a pack of chocolates.
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CPI(M) Says Centre Trying To Suffocate Kerala With "Fiscal Ban"
The ruling CPI(M) on Saturday said the Union government's decision to cut down the borrowing limit of Kerala by half was an "attempt to suffocate the state" by any means necessary.
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"There Will Be No Default": Joe Biden On US Debt Crisis
President Joe Biden declared Thursday the United States would avoid a disastrous credit default even as lawmakers went on a 10-day break without a deal on raising the nation's borrowing limit to keep paying the bills.
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Banks Must Hear Borrowers Before Classifying Accounts As Fraud: Supreme Court
The Supreme Court rejected the State Bank of India's appeal and ruled that it is reasonably practicable for the lender banks to provide an opportunity for a hearing to the borrowers before classifying their accounts as fraud.
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Kerala Finance Minister Says Centre Adopts "Wrong Policy" On Borrowing limit
Kerala Finance Minister K N Balagopal on Thursday said the Centre's imposition of cuts in the borrowing limit of the states would adversely impact the southern state's economy, which is yet to completely recover from the challenges due to the COVID-1
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Elon Musk Considers Raising $3 Billion to Pay Off Part of Twitter Debt: Report
Elon Musk is reportedly exploring raising $3 billion (roughly Rs. 24,465 crore) in new fundraising to help the billionaire repay a part of the debt he owes from his Twitter buyout deal last year. The Tesla CEO borrowed $13 billion (roughly Rs. 1,06,000Â crore) in October from a syndicate of banks including Morgan Stanley and Bank of America.
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Nitish Kumar Says Centre Interfering In States' Borrowing
Bihar Chief Minister Nitish Kumar on Wednesday alleged that poor states were being prevented by the Narendra Modi government at the Centre from marshalling resources through borrowing.
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"There Can't Be Different...": Kerala Governor On States' Borrowing Limits
Kerala Governor Arif Mohammed Khan on Monday said recent measures to curtail borrowing capacities of the states have constrained their efforts in various social and infrastructure sectors.
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Weak Revenue Growth, Higher Capital Outlays To Keep States' Debt High This Fiscal: Report
States' debt will stay elevated at 30-31 per cent of their gross domestic products this fiscal as they have been borrowing from the markets much beyond their means amid modest revenue growth, a report said today.
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Predatory Lending Apps: MHA Asks States, UTs to Take Urgent Action Against Illegal Apps
The Home Ministry recently asked law enforcement in states and Union territories to take urgent and strict action against predatory lending apps as harassment, blackmail and harsh recovery practices by such Chinese-controlled entities have led to multiple incidents of death by suicide. The ministry said it was a form of organised cybercrime that ...
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More Pain For Borrowers As SBI Hikes Benchmark Lending Rate By 0.7% To 13.4%
The country's largest lender, State Bank of India (SBI), raised the Benchmark Prime Lending Rate (BPLR) by 70 basis points (or 0.7 per cent) to 13.45 per cent on Wednesday.
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Using Borrowed Money To Give Free Electricity: Union Minister Attacks Punjab
Power Minister RK Singh has warned of a debt trap for states like Punjab using borrowed money to provide free electricity, saying such populist schemes are fine only if a state has finances.
-
"States' Debt Affects Country's Rating": Centre On Kerala Borrowing Curbs
Uncontrolled borrowing by states would affect the credit rating of the whole country and the fiscal edifice of Kerala has been diagnosed with "several cracks", the Centre has told the Supreme Court.
-
4 Lakh Crore In Debt, Madhya Pradesh Borrows Again To Meet BJP's Promises
Less than two weeks after he took oath, Madhya Pradesh Chief Minister Mohan Yadav has sought a Rs 2,000 crore loan from Reserve Bank of India (RBI) to meet the state's expenditures.
-
Be Judicious In Using Flexibility On Interest Rates:Governor To NBFC-MFIs
Stating that some Non Banking Finance Company-Microfinance Institutions (NBFC-MFIs) are making wider net interest margins, RBI Governor Shaktikanta Das on Wednesday asked entities to be "judicious" in using the flexibility on the interest rates they charge from borrowers.
-
SBI To Send Chocolates To Borrowers Likely To Default On Monthly Repayments
The nation's largest lender State Bank of India is adopting a novel way to ensure timely repayments, especially by its retail borrowers, by greeting those likely to default on monthly installments with a pack of chocolates.
-
CPI(M) Says Centre Trying To Suffocate Kerala With "Fiscal Ban"
The ruling CPI(M) on Saturday said the Union government's decision to cut down the borrowing limit of Kerala by half was an "attempt to suffocate the state" by any means necessary.
-
"There Will Be No Default": Joe Biden On US Debt Crisis
President Joe Biden declared Thursday the United States would avoid a disastrous credit default even as lawmakers went on a 10-day break without a deal on raising the nation's borrowing limit to keep paying the bills.
-
Banks Must Hear Borrowers Before Classifying Accounts As Fraud: Supreme Court
The Supreme Court rejected the State Bank of India's appeal and ruled that it is reasonably practicable for the lender banks to provide an opportunity for a hearing to the borrowers before classifying their accounts as fraud.
-
Kerala Finance Minister Says Centre Adopts "Wrong Policy" On Borrowing limit
Kerala Finance Minister K N Balagopal on Thursday said the Centre's imposition of cuts in the borrowing limit of the states would adversely impact the southern state's economy, which is yet to completely recover from the challenges due to the COVID-1
-
Elon Musk Considers Raising $3 Billion to Pay Off Part of Twitter Debt: Report
Elon Musk is reportedly exploring raising $3 billion (roughly Rs. 24,465 crore) in new fundraising to help the billionaire repay a part of the debt he owes from his Twitter buyout deal last year. The Tesla CEO borrowed $13 billion (roughly Rs. 1,06,000Â crore) in October from a syndicate of banks including Morgan Stanley and Bank of America.
-
Nitish Kumar Says Centre Interfering In States' Borrowing
Bihar Chief Minister Nitish Kumar on Wednesday alleged that poor states were being prevented by the Narendra Modi government at the Centre from marshalling resources through borrowing.
-
"There Can't Be Different...": Kerala Governor On States' Borrowing Limits
Kerala Governor Arif Mohammed Khan on Monday said recent measures to curtail borrowing capacities of the states have constrained their efforts in various social and infrastructure sectors.
-
Weak Revenue Growth, Higher Capital Outlays To Keep States' Debt High This Fiscal: Report
States' debt will stay elevated at 30-31 per cent of their gross domestic products this fiscal as they have been borrowing from the markets much beyond their means amid modest revenue growth, a report said today.
-
Predatory Lending Apps: MHA Asks States, UTs to Take Urgent Action Against Illegal Apps
The Home Ministry recently asked law enforcement in states and Union territories to take urgent and strict action against predatory lending apps as harassment, blackmail and harsh recovery practices by such Chinese-controlled entities have led to multiple incidents of death by suicide. The ministry said it was a form of organised cybercrime that ...
-
More Pain For Borrowers As SBI Hikes Benchmark Lending Rate By 0.7% To 13.4%
The country's largest lender, State Bank of India (SBI), raised the Benchmark Prime Lending Rate (BPLR) by 70 basis points (or 0.7 per cent) to 13.45 per cent on Wednesday.
