Read more about Gem and Jewellery Sectors Sees Financial Assistance And Banking Related Relief on Business Standard. All India Gem and Jewellery Domestic Council has written to the Union Finance Minister (FM) and the Reserve Bank of India (RBI) seeking immediate financial assistance and banking related relief for the stressed gem, jewellery and allied businesses
Extend deadline for meeting compliances; provide stimulus for industry: PHD Chamber to FM
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Last Updated: Apr 22, 2021, 09:10 PM IST
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Synopsis We have asked for extension of timelines for compliance under various laws including Income Tax Act, Companies Act and GST Act in these difficult times. Like last year, the government should consider extending the timeline for compliance, maybe till June-end, said Sanjay Aggarwal, president, PHD Chamber of Commerce and Industry (PHDCCI).
Till February-end, Rs 2.46 lakh crore of the total Rs 3 lakh crore was sanctioned under the ECLGS by commercial banks and non-banking financial companies (NBFCs).
PHD Chamber of Commerce on Thursday requested Finance Minister Nirmala Sitharaman for extension of various timelines for compliances, including for filing tax and GST returns, amid the second wave of the COVID-19 pandemic.
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India’s sovereign rating must go up at least a notch: former development banker
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Hard truth: Even global development banks’ soft loans are ‘not really soft’ , says Mr. Kamath. P. V. SIVAKUMAR
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P. V. SIVAKUMAR
India’s sovereign rating must go up at least a notch: former development banker
Making a case for an upgrade in India’s sovereign rating, former New Development Bank president K.V. Kamath on Wednesday said the new development finance institution (DFI) cleared by the Union Cabinet must be careful about preventing ‘excessive reliance’ on foreign funds.
“With all the efforts that the government is making, I would think that the sovereign rating itself would need to move up. I don’t think that they can hold India’s rating where it is; wherever you look at, this rating is misplaced by at least a notch, if not more,” Mr. Kamath said. The Economic Survey 2020-21 had also argued India’s sovereign ratings di
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ETMGS 2021: Bad loan fear overblown, PSU banks may only need hand-holding, says KV Kamath
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K V Kamath said despite their inefficiencies and declining market shares, public sector banks will play an important role in the India growth story.
Strong PSBs are required to meet our aspirations at least for next five years’ growth: KV Kamath at ETMGS 2021
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NEW DELHI: KV Kamath, the veteran banker and former chief of New Development Bank-BRICS who recently headed the RBI panel on debt restructuring, on Wednesday downplayed the concerns over bad loans in public sector banks, and said most of the banks entered the pandemic phase with fairly clean balance sheets.