December 16, 2020
Shaktikanta Das, Governor, Reserve Bank of India - PAUL NORONHA×
SCBs’ credit as a per cent of GDP fell to 50.99% in FY20 from 51.51% in FY19: RBI data
Access to credit and cost of credit need to be addressed by lesser reliance on collateral security and greater cash-flow-based lending to improve the credit-to-GDP ratio, according to Reserve Bank of India Governor Shaktikanta Das.
In this regard, Das observed that credit bureaus and the proposed Public Credit Registry (PCR) framework are expected to improve the flow of credit as well as credit culture.
As per RBI data, scheduled commercial banks’ credit as a per cent of GDP came down to 50.99 per cent in FY20 from 51.51 per cent in FY19.
The Town of Oro Valley could see a positive fiscal impact for years to come should the mayor and council move forward with annexing the Westward Look Resort, according to a recently released fiscal impact report.
The report indicates annexing the resort would have a positive annual net impact of about $916,000. Furthermore, the town could pocket an additional $61,000 to $562,000 depending on which of the three potential economic development plans they choose for 18 acres of property along Ina Road which surrounds the resortâs entrance. The property is split into two parcelsâGateway West which has 4.84 acres and Gateway East with the remaining 13.15 acresâwould be rezoned for commercial and residential development.Â
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Prismo Metals’ Key Projects
Palos Verdes
The company’s Palos Verdes property is located in Southern Sinaloa, roughly 65 kilometers northeast of Mazatlán. The Palos Verdes concession covers 22.77 hectares and is situated within the historic Panuco-Copala mining district, the largest silver producer in Sinaloa.