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Updated Feb 01, 2021 | 12:15 IST Deposit insurance is of Rs 5 lakh. We will streamline provisions that depositors can get easy and time-bound access to their kitty in stressed banks, said FM Nirmala Sitharaman. FM proposes further recapitalisation of Rs 20,000 crore for PSBs in FY21-22 New Delhi: Finance Minister Nirmala Sitharaman in her Union Budget 2021-22 speech announced further recapitalization of Rs 20,000 crore for Public Sector Banks (PSBs) in the Financial Year 2021-22. FM further announced that the proposal to allow depositors of stressed banks to access up to Rs 5 lakh as per DICGC. Deposit insurance is of Rs 5 lakh. We will streamline provisions that depositors can get easy and time-bound access to their kitty in stressed banks, said FM Sitharaman. ....
Updated Jan 31, 2021 | 15:23 IST There is an expectation that this budget will emphasize the role of technology in delivering financial products and services and will include a continued commitment by the Government to invest in internet infra Representational image COVID 19 has led to increased use of both digital payments and digital lending products. People have found transacting digitally is a contact-free and safer way to make payments and access financial products. This shift from physical to digital is likely to be a permanent one as FinTech platforms continue to innovate giving consumers access to more convenient and customized financial solutions. ....
Itâs Budget Season. And That Means Talk of a âBad Bankâ Yet Again. With the RBI governor open to taking a look at a proposal if it is presented, if we see one next week, surely a wider debate will be in order. A woman walks past the Reserve Bank of India (RBI) head office in Mumbai. Photo: Reuters/Shailesh Andrade/ Economy26/Jan/2021 In a public lecture almost two weeks ago, Reserve Bank of India (RBI) Governor Shaktikanta Das stated that if a proposal for the creation of a âbad bankâ was put forward, the monetary regulator would look at it. ....
Updated Jan 25, 2021 | 16:38 IST The other major focus area of Budget 2021 will be on jobs creation that will provide immeasurable economic relief to India’s middle and lower middle class who have been deeply impacted by the pandemic. Representational image New Delhi: As India slowly emerges out of the shadows of Covid-19 pandemic and the given the fact that the vaccination drive has already begun and the economy is on the mend, all eyes are now on the Union Budget that is scheduled to be presented in the Parliament on February on February 1, 2021. Expectationa are already high given that many sectors still need continued support from the government to recover from the damages caused by the pandemic. ....