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
Category: Daily Factly articles
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
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
RBI order on defaulters lacked govt. nod, says SC
The Supreme Court has struck down the Reserve Bank of India’s Feb. 12 circular on the grounds that the regulator can give directions to banks on stressed assets only upon the central government’s authorisation and in case of a specific default. Several companies in the power,sugar,fertiliser and infrastructure sectors objected to the circular’s one size… Continue reading RBI order on defaulters lacked govt. nod, says SC
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) GSAT-32. RISAT-2B is a radar imaging satellite. It has all… Continue reading Starting May, ISRO to launch a string of ‘defence’ satellite
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 services sectors.It is a survey-based measures… Continue reading Manufacturing PMI at 6-month low
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 much longer route to comply with the ban. The Afghan… Continue reading Pakistan airspace closure hits Afghan, Kazakh, Russian airlines
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 2018,the Paris-based FATF had placed Pakistan on the grey list of countries.Pakistan was put… Continue reading Pakistan could be blacklisted by FATF due to ‘lobbying by India’, says Qureshi
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 capital region like Noida and Ghaziabad has switched over to the cleaner… Continue reading 12 NCR districts, Agra switch to BS-VI fuel
‘Early brain function affected in poor kids’
A new research from the University of East Anglia (UEA) has revealed that poverty significantly impacts brain development in children. The researchers had studied the brain function of children aged between four months and four years in rural Uttar Pradesh, India and compared them with children from families in Midwest America. The researchers examined the… Continue reading ‘Early brain function affected in poor kids’
