LOAN WAIVERS
Ujjivan SFB adjusts loan growth guidance amid microfinance stress
I think these are things that we have to monitor very carefully and hopefully once the budget is out and announced and the revenues trickle into the economy, I think we will see some benefits from that. So, all in all, we are looking at a better second half. The effect is more in the first half of the year.
Farm loan waivers to negatively impact banks' asset quality: Macquarie
Macquarie Capital warned that farm loan waivers could negatively impact banks' asset quality, particularly for public sector banks. States like Telangana, Jharkhand, and Punjab are either implementing or considering such waivers. Macquarie's Suresh Ganapathy highlighted that these waivers create moral hazards and deteriorate credit culture, as even reliable farmers might start defaulting.
Exempt selectively sovereign funds, RBI
RBI has also eased some of the new provisioning rules for bank and NBFC investments in AIFs. Lenders are now required to provide only for the amount the AIF has invested in a debtor company. Equity shares of the debtor company have been excluded from the provisioning requirements. The central bank also exempted lenders investing in AIFs through intermediaries such as fund of funds and mutual funds.
After Telangana's Rs 31,000 cr farm loan waiver, Punjab farmers reiterate similar demand
The Telangana government has announced a farm loan waiver of up to Rs 2 lakh, benefiting nearly 40 lakh farmers at a cost of around Rs 31,000 crore. Punjab farmers have welcomed this decision and renewed their call for a similar waiver from the central government, arguing that the current cash benefit under PM Kisan is insufficient.
GST Council proposes interest, penalty waiver on tax dues
"Our intent is to make GST assessees' life easier, simpler and less cumbersome... We are working towards less and less compliance," Union finance minister Nirmala Sitharaman, chairperson of the body, told reporters after the council's 53rd meeting that was held in the capital.
GST Council proposes interest, penalty waiver on tax dues
The GST Council, chaired by Union Finance Minister Nirmala Sitharaman, empowered tax authorities to waive interest and penalties on past tax demands, aiming to ease compliance for GST assessees.
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Will the issue of student loan waivers influence the upcoming presidential elections in the US?
Many respondents in a survey noted that the mounting student loans have emerged as a key election issue and their choices will be impacted. The two candidates have opposing views on this topic.
Waiver, other tax reforms top GST Council's docket
The GST Council is set to discuss various measures at its upcoming meeting on June 22 to pave the way for broader tax reforms in the new government's first full budget. These measures include considering a conditional waiver of interest or penalty on tax notices issued between 2017 and 2020, with exceptions for wilful defaulters. The budget announcement is expected in July.
Jharkhand govt contemplates to waive farm loan up to Rs 2 lakh: CM Champai Soren
"We waived Rs 40,000 farmers' loan in the past and are planning to increase it to Rs 2 lakh. Similarly, the current base of 125 unit free electricity will be increased to 200 units," Soren said while addressing a meeting at Gandhi Maidan in Jamshedpur to inaugurate and lay foundation of development projects.
Fund released for farmers was due month ago, PM Modi did no special favour to them: Congress
Congress criticizes PM Modi for delayed release of PM-Kisan Samman Nidhi fund, calling it farmers' legitimate entitlement. Demand for legal MSP, farm loan waiver to benefit farmers.
Fund released for farmers was due month ago, PM Modi did no special favour to them: Congress
Taking charge as prime minister in his third term, Modi on Monday signed his first file authorising the release of the 17th instalment of the PM-Kisan Samman Nidhi fund, amounting to nearly Rs 20,000 crore that will benefit around 9.3 crore farmers.
Modi govt turned around banking sector, over Rs 10 lakh crore bad loans recovered in 10 years: Nirmala Sitharaman
Finance minister Nirmala Sitharaman highlighted the Modi government's success in the banking sector, recovering over Rs 10 lakh crore from bad loans. The Enforcement Directorate investigated 1,105 bank fraud cases, attaching proceeds worth Rs 64,920 crore.
We will form commission, waive farmer loans as many times required: Rahul Gandhi in Punjab
Rahul Gandhi criticizes BJP for working for billionaires, not providing legal guarantee of Minimum Support Price, and promising to bring a legal guarantee for MSP and a 'farmer-friendly' crop insurance policy if INDIA alliance government is formed.
In Punjab, drug problem 'exists even today, increasing', says Rahul Gandhi
Rahul Gandhi, addressing a rally in Ludhiana, highlighted the Congress's promises for Punjab, including the Mahalakshmi scheme and farm loan waivers. He also emphasized the need for strict action against the drug problem in Punjab, which he said was increasing. Gandhi criticized the BJP government, accusing it of wanting to change or scrap the Constitution if it wins the election and of benefiting big businesses at the expense of small traders and businesses. He also criticized the Agnipath scheme, calling it an insult to the army, and promised to repeal it if Congress comes to power.
PM waived loans of 22 people but couldn't give Rs 9,000 cr for HP monsoon disaster: Rahul Gandhi
Addressing an election rally at Nahan in Himachal Pradesh's Sirmaur district in support of Congress candidate from Shimla (SC) Parliamentary constituency Vinod Sultanpuri, Congress leader Rahul Gandhi said Modi handed over all storage facilities to one person to control the prices of apple.
Rahul Gandhi defends his wealth redistribution plans, says will give back 90% of funds given to businessmen as loan waivers
Congress MP Rahul Gandhi stated that the Congress manifesto aims to return a portion of the Rs 16 lakh crore loan waivers given to big businessmen to 90% of Indians. He accused Prime Minister Narendra Modi of favoring billionaire friends with loan waivers and criticized him for prioritizing them over the welfare of the Indian people.
Will carry out Rs two lakh farm loan waiver before Aug 15: Telangana CM Revanth Reddy
Revanth Reddy, who was speaking at a Congress meeting in his Assembly constituency- Kodangal-, referred to BRS MLA T Harish Rao's reported comments as to whether the chief minister would resign if he was not able to implement the loan waiver before August 15.
BRS, BJP claim credit for Telangana CM's announcement on farm loan waiver
The opposition BJP and BRS in Telangana claim CM Revanth Reddy's Rs 2 lakh farm loan waiver announcement resulted from their agitation. BJP criticizes Congress for unfulfilled promises, asking why voters should support in Lok Sabha elections. BRS demands implementation of investment support and financial assistance pledges. BJP sees loan waiver as first victory.
Jharkhand government tables Rs 1.28 lakh crore budget for FY'25 in assembly
Jharkhand government presents Rs 1.28 lakh crore budget to make Jharkhand a Rs 10 lakh crore economy. Introduces separate 'Bal' budget, proposes building houses, increasing beneficiaries under food security scheme, starting leader schools, establishing colleges, setting up technology park. Plans to set up medical college, attract investment creating jobs.
Haryana CM presents budget; announces interest waiver on crop loans amid farmer protests
Haryana Chief Minister Manohar Lal Khattar has announced a budget of Rs 1.89 lakh crore for the 2024-25 fiscal year, despite ongoing farmer protests at the Punjab-Haryana borders. The government has provided a Minimum Support Price (MSP) for 14 crops and increased financial compensation to Rs 1 crore for families of soldiers who sacrificed their lives in the line of duty.
BJP govt surrendered Rs 1-lakh crore agri budget in last 5 yrs while farmers suffered: Cong
The Congress leader said when prices for wheat, paddy and other grains can be received in the world markets, then exports are banned. "Where import has to be done, all the rules and regulations are immediately put on hold. This is a double blow of the Modi government on the farmers of the country," he said.
Supriya Sule attacks Ajit Pawar, says she is more qualified to lead NCP
NCP leader Supriya Sule has expressed her preference for New Delhi leadership and not for a leadership role in Maharashtra, despite her cousin Ajit Pawar's rebellion. In a speech at the end of a two-day party conclave, Sule declared that she was fit to lead the party and that Ajit was not following Chavan's ideals. Praful Patel questioned Sule's larger role in the party, but Sule claimed she was highly qualified and wanted to make a difference.
Karnataka CM Siddaramaiah announces waiver of interest on crop loans at coop banks
Chief Minister Siddaramaiah announced that the government will waive off interest on medium and long crop loans disbursed by cooperative banks to farmers, despite the ruling Congress making no such promises in its manifesto before the assembly polls in May. The BJP members urged the chief minister to waive the entire loan amounts, while the CM criticized the Opposition BJP for not releasing any rupee towards farm loans.
RBI cautions against unauthorised loan waiver campaigns
The Reserve Bank of India (RBI) has issued a caution against misleading ads offering loan waivers, noting entities charging fees for unauthorised 'debt waiver certificates.' Some campaigns advise against paying bank dues, undermining regular repayment practices. RBI warns borrowers, emphasising that such activities harm financial stability and may lead to direct financial losses.
Congress skipping CIC swearing-in shows its 'anti-dalit mindset', says PM Modi
Modi further said that Congress never allowed the talented leadership of SC, ST, OBC communities to emerge. "This is their courtly mentality due to which they keep abusing Modi day and night. While abusing Modi, they have started abusing the entire OBC community," he said.
Congress unveils 'Bharose ka Ghoshna Patra' for Chhattisgarh, promises caste census, farm loan waiver
The Congress party'a The manifesto highlights key promises, including a caste census, loan waiver for farmers, and a procurement price of Rs 3,200 per quintal for paddy. Chief Minister Bhupesh Baghel announced the introduction of 'Mahtari Nyay Yojana', a new scheme providing a subsidy of Rs 500 per cooking gas cylinder for women. The manifesto emphasizes the continuation of existing schemes if the Congress party retains power.
Rahul shares video of interaction with Chhattisgarh village farmers, says tillers satisfied with state government
Posting the video of his interaction with the farmers on his YouTube page, Gandhi said, "A few days ago, I got a chance to go to Kathiya village in Chhattisgarh and interact with the farmers and help them in the fields - tried my hand at harvesting paddy." There were a lot of talks with the farmers and they seemed satisfied with the facilities provided by the state government, Gandhi said.
Chhattisgarh elections: Priyanka Gandhi promises Rs 500 subsidy per gas cylinder, loan waiver for SHGs and more
Congress party promised a slew of measures, including, waiving loans of Self-Help Groups, subsidising cooking gas cylinders through a new scheme, offering free treatment to victims of road accidents, upgrading around 6,000 government higher secondary and high schools into Swami Atmanand English and Hindi medium schools, and providing free electricity up to 200 units.
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