The Supreme Court has struck down the Reserve Bank of India’s February 12 circular that dealt with resolution of stressed assets in the economy.The Supreme Court has held the February 12 circular ultra vires as a whole which means the RBI had gone beyond its powers in issuing the circular.Earlier,the apex Court had stayed the… Continue reading SC holds ultra vires RBI’s February 12 circular mandating insolvency proceedings
Author: ForumIAS
Borrower behaviour will deteriorate
According to analysts,Supreme Court judgment striking down the Reserve Bank of India’s February 12 circular that dealt with the resolution of stressed assets will lead to deterioration of borrower behaviour and increase delays and litigation. On 12th February 2018,RBI had put out a circular on classification of non-performing assets that required (a)Banks to stipulate a… Continue reading Borrower behaviour will deteriorate
Starting May, ISRO to launch a string of ‘defence’ satellite
Starting May, ISRO to launch a string of ‘defence’ satellite The Indian Space Research Organisation (ISRO) is expected to launch a number strategic earth observation (EO) satellites in 2019-2020. The satellites which are expected to be launched are: a) RISAT-2B, b) Cartosat-3, c) RISAT-2BR1, d) GISAT-1(ne series), e) RISAT-2BR2, f) GISAT-2, g) RISAT-1A, and h)… Continue reading Starting May, ISRO to launch a string of ‘defence’ satellite
Manufacturing PMI at 6-month low
Manufacturing PMI at 6-month low According to Nikkei India Manufacturing Purchasing Managers’ Index (PMI) data, manufacturing activity has slowed to a six-month low of 52.6 in March due to lower levels of new orders and production. PMI or a Purchasing Managers’ Index (PMI) is an indicator of business activity — both in the manufacturing and… Continue reading Manufacturing PMI at 6-month low
Jaitley rules out rethink on special status
Jaitley rules out rethink on special status Union Finance Minister has said that it is not possible to give Special Category Status (SCS) to Andhra Pradesh as 14th Finance Commission had removed the granting of SCS to any State. Further, he said that special financial package given to Andhra Pradesh was similar to the Special… Continue reading Jaitley rules out rethink on special status
Credit negative for banks, says Moody’s
According to credit rating agency Moody,Supreme Court’s decision to strike down the February 12,2018 circular of the Reserve Bank of India (RBI) will be credit negative for Indian banks. They said that the circular had significantly tightened stressed loan recognition and resolution for large borrowers.But,with the Supreme court order,resolution of stressed loans impacted by the… Continue reading Credit negative for banks, says Moody’s
Pakistan airspace closure hits Afghan, Kazakh, Russian airlines
Pakistan airspace closure hits Afghan, Kazakh, Russian airlines The closure of Pakistan’s airspace, since the Indian Air Force (IAF) strikes in Balakot has affected international flights to and from India. The worst affected are airlines from West and Central Asia as their proximity to India and Pakistan means that they have to now take a… Continue reading Pakistan airspace closure hits Afghan, Kazakh, Russian airlines
Pakistan could be blacklisted by FATF due to ‘lobbying by India’, says Qureshi
Pakistan could be blacklisted by FATF due to ‘lobbying by India’, says Qureshi Pakistan foreign minister has said that Pakistan could be blacklisted by the Financial Action Task Force (FATF) due to lobbying by India. He estimated that Pakistan could suffer $10 billion loss annually if it remains on the FATF grey list. In June… Continue reading Pakistan could be blacklisted by FATF due to ‘lobbying by India’, says Qureshi
AFSPA ‘disturbed area’ tag extended for 3 Arunachal districts, withdrawn from 3 others
AFSPA ‘disturbed area’ tag extended for 3 Arunachal districts, withdrawn from 3 others The Union Government has extended the “disturbed area” tag under Armed Forces Special Powers Act (AFSPA) for three districts of Arunachal Pradesh for another six months, while withdrawing it partly from three other districts bordering Assam. The Armed Forces (Special Powers) Act… Continue reading AFSPA ‘disturbed area’ tag extended for 3 Arunachal districts, withdrawn from 3 others
12 NCR districts, Agra switch to BS-VI fuel
12 NCR districts, Agra switch to BS-VI fuel According to Indian Oil Corporation (IOC), supply of ultra-clean BS-VI grade petrol and diesel has begun in cities adjoining Delhi. In April 2018, Delhi became the first city in the country to switch from BS-IV grade petrol and diesel to BS-VI fuels. Further, cities in the national… Continue reading 12 NCR districts, Agra switch to BS-VI fuel
