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Nirvik: New Export Credit Insurance Scheme

The Ministry of Commerce & Industries through the Export Credit Guarantee Corporation (ECGC) has launched a new Export Credit Insurance Scheme (ECIS) called NIRVIK to enhance loan availability and ease the lending process. What is Export Credit Insurance? Export credit insurance (ECI) protects an exporter of products and services against the risk of non-payment by ..

Improving credit flow to potential borrowers

In the modern-day of increasing globalization, global economic trends are also being picked up in India. While at one time, Indians were hesitant to borrow money for heads apart from the house, car or education which were comparatively long term and had tangible outcomes, modern living and rising standards of living mean that Indians are ..

National Rural Bank

The Central Government is mulling to set up a National Rural Bank to ease the agricultural woes in India. What is a National Rural bank? The National Rural is an envisaged attempt of the policymakers to create a large bank to look specifically after the agriculture sector. This may or may not be created by ..

Did India Over-Estimate its Growth Rate?

In a research paper India s GDP Mis-estimation: Likelihood, Magnitudes, Mechanisms, and Implications former chief economic advisor Arvind Subramanian has claimed that India s economy grew at a much slower pace between 2011-12 and 2016-17 (at about 4.5%) than the official estimate of 7 per cent. Observations made in the Research Paper India s GDP ..

Sunil Mehta recommends changes in existing Inter-Creditor Agreement (ICA)

The Sashakt Committee, headed by PNB non-executive chairman Sunil Mehta, has recommended changes in existing Inter-Creditor Agreement (ICA) to incorporate revised voting threshold and other changes for decision making stipulated by the Reserve Bank of India (RBI). It will enable expeditious implementation of the new framework on stressed assets. Under the RBI’s new framework, it ..

NITI Aayog calls for new Regulations for Banks

Amitabh Kant, NITI Aayog’s Chief Executive Officer has said that the government and the Reserve Bank of India will have to bring new set of regulations to make certain that borrowers repay their debt in time. He has also stressed on the need of ensuring higher growth to fund such dole-outs. RBI and government has ..

RBI starts process to set up PCR for capturing borrowers’ details

The Reserve Bank of India (RBI) has initiated steps to set up a wide-based digital Public Credit Registry (PCR) to capture details of all borrowers, including wilful defaulters and also the pending legal suits in order to check financial delinquencies. The PCR will also include data from entities like market regulator SEBI, the Ministry of ..

RBI to set up Public Credit Registry (PCR) to check loan defaults

In a bid to check loan defaults, the Reserve Bank of India (RBI) has considered the recommendations of YM Deosthalee-headed High Level Task Force and will set up a Public Credit Registry (PCR) in a modular and phased manner. The PCR is an information repository that collates all loan information of individuals and corporate borrowers. ..