21.8% of SBI customers avail moratorium facility on loan EMIs
15 Days Optimum Time For States To Transport Migrants Home: Top Court
After Telangana, now Karnataka launches COVID-19 tracking platform developed by NASSCOM
Coronavirus impact: Govt may soon allow home delivery of petrol, CNG
Lockdown 5.0: Amit Shah meets PM Modi to discuss way forward; guidelines to be issued soon
Coronavirus in India: 7,466 cases in 24 hours, highest 1-day jump, death toll at 4,706; Maharashtra worst-hit
Lockdown 5.0: Centre may let states decide on restrictions post-May 31
SBI cuts fixed deposit rates by 40 bps; check out new rates
Coronavirus vaccine update: India to begin human trial in next six months, says ICMR
India's GDP to contract 6.8% in FY21 due to coronavirus lockdown: SBI
Himachal Pradesh Extends Lockdown Till June 30
Coronavirus vaccine update: After Moderna, CanSino Biologics claims positive results in early trials
No Exam For Remaining Subjects Of Class 10, Class 12 Exam In June: Madhya Pradesh Chief Minister
International Flights May Start "Even By Middle June": Aviation Minister
Pakistan Plane Crash: PIA Flight With 99 On Board Crashes In Karachi Minute Before Landing
RBI rate cut: For home loan of Rs 50 lakh, EMI to reduce by this much
Coronavirus impact: MSMEs demand loan moratorium till March 2021
Domestic Flights To Resume From Monday In "Calibrated Manner", SOPs Soon
Trump tells WHO to prove 'independence' from China within 30 days; warns freeze on funding
New EPF rules rolled out: 5 things to know

Latest Posts

Nirmala Sitharaman Says Banks Have Sufficient Liquidity

Finance Minister Nirmala Sitharaman said on Monday that there is sufficient liquidity in the banking system. Addressing the media after a meeting with chiefs of public sector banks, the Finance Minister said banks have been asked to provide a bill discounting facility to the micro, small and medium enterprises (MSME) sector against dues from large corporates, in order to ensure liquidity for small businesses. Efforts are being made to ensure that dues are released to the MSME sector by large corporates, Ms Sitharaman said.

Here are 10 things to know:

1. All efforts would be made to ensure that the MSME sector gets its dues ahead of Diwali, the Finance Minister said.

2. According to the returns filed by large corporates to the Corporate Affairs Ministry, there are dues worth Rs. 40,000 crore to the MSME sector, she said.

3. Talks between the Finance Ministry and the state-run lenders come at a time the government has announced a slew of measures to revive economic growth.

4. The finance minister said on Monday that the the bank merger process was "going smoothly".

5. In August, the government announced a mega consolidation plan in a bid to strengthen the financial system and push economic growth.

6. The four mergers proposed to combine Punjab National Bank with Oriental Bank of Commerce and United Bank; Canara Bank with Syndicate Bank; Union Bank of India with Andhra Bank and Corporation Bank, and Indian Bank with Allahabad Bank. 

7. The consolidation plan would lead to 12 public sector banks in the system instead of 27, the government said. 

8. India's GDP or gross domestic product expanded 5 per cent in the quarter ended June, marking the lowest pace of growth in more than six years.

9. The Finance Minister has earlier said that GDP growth is likely to pick up in the October-March period as consumer demand is expected to improve in the festival season.

10. Meanwhile, the Finance Ministry said that loans worth Rs. 81,781 crore were disbursed during the nine-day outreach programme organised by banks.

×

Alert Message

Ok
Please Wait...

Share the Opinion Poll with your Friends At

Ok

Share the Survey with your
Friends At

Ok
×

Statistics

Ok
No
×

Statistics

Ok