Sanghani skirts RBI diktate on dividends; offers interest-rebate
Amreli DCCB helped 300 co-op societies thru interest-rebate: Sanghani
An ace cooperator Dileep Sanghani knows how to overcome the limitations of state laws. The matter relates to RBI not allowing distribution of dividend to shareholders of co-op banks in the wake of pandemic.
Hitting upon a novel idea, Sanghani led Amreli District Central Cooperative Bank decided to offer rebates in the accrued interests on loans taken by the shareholders associated with hundreds of small co-op societies in this case. “A brilliant way to fulfil both the RBI norms and help farmers!”, cheered co-operators.
Government not closing its mind towards experimenting with crypto: FM Nirmala Sitharaman
With the government planning to introduce a Bill in Parliament to ban companies and individuals from dealing in cryptocurrencies, FM Nirmala Sitharaman said negotiations and discussions around cryptocurrency are underway with the RBI.
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With the government planning to introduce a Bill in Parliament to ban companies and individuals from dealing in cryptocurrencies,
FM Nirmala Sitharaman said the government is not closing its mind towards experimenting in the cryptocurrency world and that a very calibrated approach will be taken.
In an interaction with
CNBC-TV18, Sitharaman said negotiations and discussions around cryptocurrency are underway with the Reserve Bank of India (RBI).
Nirmala Sitharaman Union Finance Minister
In her speech, Sitharaman also proposed a gas pipeline project for J&K. Reacting to the announcement, Lieutenant Governor of Jammu and Kashmir Manoj Sinha lauded the Central Government for announcing the project. “I thank Prime Minister Narendra Modiji and Union Home Minister Amit Shahji for announcing a new gas pipeline project for the development of Jammu and Kashmir in Budget 2021. I congratulate Finance Minister Nirmala Sitharamanji for an inclusive and growth-oriented historic budget for Aatmanirbhar Bharat,” Sinha wrote on social media handle Twitter.
As given the bifurcations of the proposed plan, Rs 279 Cr have been granted towards contribution to Union Territory And Disaster Response. For being a special category, Rs 20 Cr have been allocated to J&K, Himachal Pradesh and Uttarakhand. The Industrial Development Scheme, 2017 for J&K UT and UT of Ladakh Rs 100 Cr has been earmarked.
Union Budget on February 1.
The sector is looking for cues and expects there will be measures that will stimulate demand in the economy.
Demand revival
The key task, perhaps, for the Finance Minister, will be demand revival. Here lies the direct connect with the ecommerce industry as the
growth of the sector depends on higher volume of purchases, especially in the non-discretionary goods or items.
Ankur Bisen, Senior Vice President, Retail & Consumer Products, Technopak, says, “The key expectation from this year’s Budget will be on-demand revival. There is stress in the real money economy.”
He says, “With 60 percent of our economy coming from domestic consumption, unless there are steps taken to revive demand, the growth of the industry may not be sustainable.”
All eyes on FM Nirmala Sitharaman as she presents her third Union Budget
The focus will be on the recovery steps the government will be taking as the economy battles the effects of the COVID-19 pandemic
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Finance Minister Nirmala Sitharaman will present the Union Budget on February 1, an unenviable task as she has her work cut out. The COVID-19 pandemic has affected the economy, and how, since the country s GDP is expected to be in the negative territory in FY 2020-21, according to the Reserve Bank of India.
In May 2020, PM Narendra Modi announced an economic package worth Rs 20 lakh crore, as revealed by the FM, where he also emphasised on the need for India to be