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Odisha Police has seized assets worth Rs 30 crore from one Archana Nag who was recently arrested for allegedly honey trapping and blackmailing several people, including politicians and those from the film industry.
Reserve Bank of India yesterday released a study titled, Risk Premium Shocks and Business Cycle Outcomes in India. This study investigates the dynamic effects of financial shocks on the business cycle. Against the backdrop of high non-performing assets (NPAs) of banks, a financial shock is conceived to be a shock to the interest rate spread stemming from a change in the default risk of borrowers. It is termed as the risk premium shock and occupies the central stage in this study. Business cycle implications of such a shock have been characterised and quantified in two steps.
At the outset, micro-level evidence on the effect of default risk on interest rate spread and credit growth is provided. Then, this micro-level evidence and predictions of dynamic stochastic general equilibrium (DSGE) models have been exploited to identify and estimate the impact of a risk premium shock using a sign-restricted VAR (SRVAR) model. The study notes that bank-level panel data analysis shows that an