NewsClick spoke to Priya Dharshini from the Centre for Financial Accountability about the ongoing bank mergers in order to understand the larger implications of the mergers on the banks as well as economy. We...
On August 30, Finance Minister Nirmala Sitaraman announced the consolidation of 10 public sector banks (PSBs) into four large ones. The background of the announcement is the current full-blown economic crisis and a brewing...
In the wake of RBI’s decision to transfer Rs 1.76 lakh crore to the government as per the recommendations of the Bimal Jalan-led committee; and Modi Government’s the decision to merge 10 Public Sector...
India Inc. is now officially facing an economic slowdown. But economic slowdowns aren’t made overnight. This has been in the offing for almost a year now. On 23 June 2019, the Reserve Bank of...
Insolvency and Bankruptcy Code (IBC), once hailed as the panacea of all ills plaguing bad debt of corporations and for quick recovery of outstanding loans from them, has been in operations for a while...
The first budget of the newly re-elected government was placed on July 5, 2019, by the Finance Minister Nirmala Sitharaman. The budget failed to address the real problems of the economy like unemployment, agrarian...
RBI ‘relaxes’ norms on BSBDA accounts: There are news reports mentioning that with the new notification RBI has eased norms for BSBD accounts and new facilities will be provided to Basic Saving Bank Deposit...
For Immediate Release Not Just RTGS And NEFT, RBI Must Do Away With All Bank Charges Financial Accountability Network India welcomes the Reserve Bank of India’s decision to remove charges for the RTGS and...
As a part of FAN India’s campaign against bank charges imposed on saving account holders, people have been lending support by sending emails to RBI governor and demanding the removal of the various charges...
This book, published by the Centre for Financial Accountability (CFA), New Delhi, critically analyses some of the major economic policies of the National Democratic Alliance (NDA) government since May 2014. The book chronicles “tectonic...
More NPAs to haunt banks with IL&FS Exposures: The NCLT has asked the banks to consider their exposure to ILFS as NPAs. Earlier NCLT has restricted banks from declaring their exposure to IL&FS prompting...
Criticising the latest Reserve Bank of India’s (RBI) annual Banking Ombudsman Report, which revealed dissatisfaction among 25 per cent customers, Financial Accountability Network (FAN India), has issued a public statement chiding RBI for being...
Banks act as financial intermediaries between depositors and borrowers. It is the public money, deposited in the form of term deposit (fixed deposits) and time deposit (saving and current accounts) which banks use for...
“Modi government has granted licenses to 20 small finance banks. The successive central governments have undermined the significance of the public sector banks. Granting license to small finance banks is to...
The crisis in the banking sector is a created one, where the commercial banks have been forced to lend on a large scale to the development projects and to the corporates and which has...