Indian Economy - News & Discussion

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SSundar
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Re: Indian Economy - News & Discussion

Post by SSundar » Tue Dec 12, 2017 2:03 am

MehtaRahulC wrote:
Mon Dec 11, 2017 5:28 pm
But - there is NO sentence in the law that "Govt will protect all PSU banks' deposits".
In the US, FDIC Insurance protects the depositors but only to the tune of $250,000 per depositor per bank. For joint accounts, that is $250,000 per joint-holder. India could follow this model and have an independent government agency to insure all deposits to a more decent limit such as Rs. 10 lakhs or even Rs. 1 crore per depositor per bank. This should cover almost everyone that isn't filthy rich. The bank pays the insurance premium which will be proportional to the risk of that bank going down. Simple Capitalist solution to the problem. Government does not prevent the bank from failing. It only helps the depositors get back on their feet.

IF such an insurance provision were made available, would "Bail-in" any longer be the pure evil incarnate the media paints it to be?

arshyam
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Re: Indian Economy - News & Discussion

Post by arshyam » Tue Dec 12, 2017 2:49 am

MehtaRahulC wrote:
Mon Dec 11, 2017 5:28 pm
But - there is NO sentence in the law that "Govt will protect all PSU banks' deposits".
There is no such sentence because it already exists. In law. Since 1962. In fact, India was the 2nd country in the world to introduce something like this. Trust RM-ji to spread some verbose FUD without looking at primary sources. Sorry for the harsh words RM-ji, but FUD is FUD. Unless you can show that the existing notification invalidates the DICGC Act of 1961?
SSundar wrote:
Tue Dec 12, 2017 2:03 am
MehtaRahulC wrote:
Mon Dec 11, 2017 5:28 pm
But - there is NO sentence in the law that "Govt will protect all PSU banks' deposits".
In the US, FDIC Insurance protects the depositors but only to the tune of $250,000 per depositor per bank. For joint accounts, that is $250,000 per joint-holder. India could follow this model and have an independent government agency to insure all deposits to a more decent limit such as Rs. 10 lakhs or even Rs. 1 crore per depositor per bank. This should cover almost everyone that isn't filthy rich. The bank pays the insurance premium which will be proportional to the risk of that bank going down. Simple Capitalist solution to the problem. Government does not prevent the bank from failing. It only helps the depositors get back on their feet.

IF such an insurance provision were made available, would "Bail-in" any longer be the pure evil incarnate the media paints it to be?
SSundar saar, whatever you mentioned about FDIC is more or less covered by the DICGC. This page answers most questions.

https://rbi.org.in/scripts/FAQView.aspx?Id=64
Q 2 What does the DICGC insure?

In the event of a bank failure, DICGC protects bank deposits that are payable in India.
The DICGC insures all deposits such as savings, fixed, current, recurring, etc. except the following types of deposits.
(i) Deposits of foreign Governments;
(ii) Deposits of Central/State Governments;
(iii)Inter-bank deposits;
(iv) Deposits of the State Land Development Banks with the State co-operative bank;
(v) Any amount due on account of any deposit received outside India
(vi) Any amount, which has been specifically exempted by the corporation with the previous approval of Reserve Bank of India.

Q 3 What is the maximum deposit amount insured by the DICGC?

Each depositor in a bank is insured upto a maximum of Rs.1,00,000 (Rupees One Lakh) for both principal and interest amount held by him in the same capacity and same right as on the date of liquidation/cancellation of bank's licence or the date on which the scheme of amalgamation/merger/reconstruction comes into force.
As others have mentioned earlier, the issue is the insured amount - ₹1 lakh in today's terms is too low. In 2008, the US' FDIC increased their limit from $1 lakh to $2.5 lakh. We may not be able to have such a high limit, but something like ₹5 or ₹10 lakh should be doable. Also, credit unions in the US (sort of similar to our co-op banks) are not covered by FDIC, but by a different agency called NCUA. That's not the case here, DICGC covers most co-op banks as well.

More links for reading:
https://rbi.org.in/scripts/His_DepositInsurance.aspx
https://www.dicgc.org.in/
https://www.dicgc.org.in/pdf/DICGC_Act.pdf

MehtaRahulC
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Re: Indian Economy - News & Discussion

Post by MehtaRahulC » Tue Dec 12, 2017 4:49 am

arshyam wrote:
Tue Dec 12, 2017 2:49 am
MehtaRahulC wrote:
Mon Dec 11, 2017 5:28 pm
But - there is NO sentence in the law that "Govt will protect all PSU banks' deposits".
There is no such sentence because it already exists. In law. Since 1962. In fact, India was the 2nd country in the world to introduce something like this. Trust RM-ji to spread some verbose FUD without looking at primary sources. Sorry for the harsh words RM-ji, but FUD is FUD. Unless you can show that the existing notification invalidates the DICGC Act of 1961?
The proposed FRDI repeals DICGC act 1961. Pls see clause-126 of the pdf in the link I gave in previous post.
.
(And dont feel sorry. You have habit of abusing me and people like me, who bring REAL facts against RSS-workers and Sri Modiji etc, since ages and ages and ages. I am used to people like you abusing me all the time. So dont waste your "sorry". I request you to remove the word "sorry" from your post. Instead, might write that you are proud. And trust me - I never complaint to admin. Complaining to admin is something crybabies do. I am not one of them).
.
---
.
Dear All,

DIC on paper insured only Rs 1 lakh. But a DEFACTO implicit unwritten unspoken promise GoI has made since 1950 was "100% of your money in all PSU bank is safe". This proposed FRDI law cancels that unspoken unwritten implicit promise in totality. And replaces by an explicitly worded act. And so now it is clear than 100% deposits in PSU banks are NOT safe. And act doesnt not make it clear what amount and what % is insured by Govt. The responsibility is thrown on some corporation and some insurance corporation. But what if that insurance corporation dies? No clear words that GoI will take over.
.
In USA, till this date, if bank cant give back FD, it has to declare bankruptcy. And then FDIC takes over and FDIC may offer a haircut, But at least bank is gone. In proposed new Indian law, bank will remain in business. And depositors will be given a haircut.

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Re: Indian Economy - News & Discussion

Post by Raju » Mon Dec 18, 2017 6:13 am

It's very simple really. Do not deposit money in banks. Back to old days. Store wealth as gold, precious metals, silver, commodity etc.

Aditya_V
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Re: Indian Economy - News & Discussion

Post by Aditya_V » Mon Dec 18, 2017 8:18 am

What BS, First time we are having a law protecting deposits, by giving loans to the tune of 9.63 Lakh crore to Mallyas, the trust of depositors in GOI has complexly been shattered. Please google STC NPA , Kingfisher etc, RICH farm loan waiver in 2008-09 to see how the Finance Ministry has intervened to loot public deposits in the 2005-13 period. In fact, by keeping quiet on this mess when he took over Raguram Rajan was very guilty in hiding the NPA mess for 2.5 years where Banks used all kinds of tricks to declare NPA's as PA's.

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Re: Indian Economy - News & Discussion

Post by Sachin » Tue Dec 19, 2017 7:05 am

Don't know how the situation is in other states, but Number #1 state Kerala seems to be in a big mess
Financial crisis: delay in lottery prize money distribution......
Kerala government stares at a financial crisis...
Kerala is in deep debt: Thomas Isaac

One of the biggest employment providers the Ke.SRTC is finding it tough to pay the salary dues to their employees. The pensioners have not received a paisa as pension for the last three months. The state government had given instructions to the state treasuries on what payments can be processed, and what has to be put on hold. An important thing to watch out would be for instructions to the Devaswom Boards (Muzrai Dept.) in the state. Sabari Mala pilgrimage season is starting.

Aditya_V
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Re: Indian Economy - News & Discussion

Post by Aditya_V » Tue Dec 19, 2017 8:37 am

Sachin wrote:
Tue Dec 19, 2017 7:05 am
Don't know how the situation is in other states, but Number #1 state Kerala seems to be in a big mess
Financial crisis: delay in lottery prize money distribution......
Kerala government stares at a financial crisis...
Kerala is in deep debt: Thomas Isaac

One of the biggest employment providers the Ke.SRTC is finding it tough to pay the salary dues to their employees. The pensioners have not received a paisa as pension for the last three months. The state government had given instructions to the state treasuries on what payments can be processed, and what has to be put on hold. An important thing to watch out would be for instructions to the Devaswom Boards (Muzrai Dept.) in the state. Sabari Mala pilgrimage season is starting.
And some supporters claim this is the best manged, greatest ever state.

Sridhar k
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Re: Indian Economy - News & Discussion

Post by Sridhar k » Tue Dec 19, 2017 10:28 am

+1. Especially our poralis, chennai lutyens like Kamal Hassan, Arvind swamy etc. get orgasmic KLs achievemnts

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Re: Indian Economy - News & Discussion

Post by chetak » Wed Dec 20, 2017 6:26 am

India’s jobless growth is a myth
India’s jobless growth is a myth

Between 2009-10 and 2015-16, incremental jobs created exceeded the number of persons who entered the labour force by a wide margin

R. Gopalan, M.C. Singhi.

In India, the overall employment situation is assessed on the basis of periodic comprehensive surveys by NSSO. Photo: Aniruddha Chowdhury/Mint
In India, the overall employment situation is assessed on the basis of periodic comprehensive surveys by NSSO.

Image

Photo: Aniruddha Chowdhury/Mint
We see two major concerns on employment generation in India. The first relates to regular availability of information on employment generation and the second, to its quality, particularly its ability to capture fully the data on employment generation from the new initiatives taken by the government.

Image

Prajakta Patil/Mint
Click here for enlarge]
In India, the overall employment situation is assessed on the basis of periodic comprehensive surveys undertaken by the National Sample Survey Office (NSSO), usually after every five years. The NSSO surveys reveal that overall employment growth from 1993-94 to 2011-12 (the latest year for which the data is available) averaged 1.1% per annum, perceived to be lower than the growth in the number of people who might have been entering the labour force and what one would expect from accelerating output growth. The employment elasticity during this period was only 0.18. A secular decline in the labour force participation rate (LFPR), which reflects willingness to work, from 430 per 1,000 people in 2004-05 to 395 per 1,000 in 2011-12, kept the unemployment rate at low levels.

Since NSSO surveys have been infrequent, the director general of the Labour Bureau has started providing more frequent information on labour markets since 2009-10. It has released five survey reports during this period, the latest being for 2015-16. The methodology is almost similar, but results are based on large surveys. These could be considered a reasonable proxy for assessing the labour market situation, more so in the intervening periods between the publication of NSSO surveys.

We look at the information from these two surveys—NSSO and Labour Bureau—to seek answers to these three questions:

First, whether this period was one of jobless growth? Second, assuming that each state followed a different development strategy, how different was their relative record in providing employment to job seekers? Third, what is the status when it comes to providing regular, productive and well-paid jobs?

Labour Bureau data indicates that between 2009-10 and 2015-16, incremental jobs created exceeded the number of people who entered the labour force by a wide margin. At an aggregate level, 75 million jobs were created, against 61 million who were added to the list of job seekers. During this period, the overall percentage of people in the age group of 15 and above who were willing to work, both male and female, increased marginally. With employment opportunities outnumbering job seekers by 23%, the rate of unemployment also declined. Contrary to general perception, the period 2009-10 to 2015-16 does not seem to be a period of jobless growth.

Notwithstanding interstate differences, the average annual rate of growth of job creation at the all-India level, at 3.2% in 2009-2016, exceeded the rate of growth of job seekers, which averaged 2.4% (Table 1). Six states—Assam, Himachal Pradesh, Jammu and Kashmir, Kerala, Sikkim and Uttarakhand—had lower job creation growth relative to the growth of job seekers. A significantly high growth of incremental job creation in Bihar, Jharkhand and Uttar Pradesh needs to be further analysed to ascertain the contributing factors.

A state-wide analysis suggests that in Gujarat, Maharashtra, Madhya Pradesh and Rajasthan, there was a sharp decline in female job seekers—and this might have helped match job opportunities to job seekers. On the other hand, in Sikkim, there were fewer job opportunities for both males and females. Despite adequate availability of job opportunities at the all-India level, state-wide differences remained significant, and, in some cases, surplus jobs arose only because of a decline in the labour and workforce participation rate for females.

The third question relates to how well paid these jobs were. The Labour Bureau survey (2015-16) has categorized workers according to their monthly income levels. Most of the workers, 84% of all, whether self-employed, regular wage earners, contract workers or casual workers, were getting an income of less than Rs10,000 per month (Figure 1). Regular wage earners or salaried-class workers were better off, with 57% having a monthly income of Rs10,000 or less. Finally, 96.3% of casual workers, including those who were employed for public works, and 85% of self-employed persons had a monthly income of Rs10,000 or less. Enough work was also not available for nearly 40% of the workers; they were being employed for only a part of the year. In terms of decent, productive and well-paid jobs, considerable gaps continued to persist.

It is necessary, then, to evolve strategies to create supplementary opportunities for the self-employed, improve the female labour force participation rate, increase the ratio of female to male job seekers, and reduce interstate differences.

R. Gopalan and M.C. Singhi are, respectively, former secretary and senior adviser, department of economic affairs.

Comments are welcome at theirview@livemint.com

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Re: Indian Economy - News & Discussion

Post by Sachin » Wed Dec 20, 2017 6:49 am

Kerala seeks ₹7,340-crore Ockhi relief package
Read this with the news about the state being bankrupt. Looks like the scheme is to get the maximum funds from the centre, using the cyclone as an excuse. Even if 1000 fisherfolk were affected/dead, and giving 1 crore/person, the requirement is only for 1000 crores. This relief package would be actually the money required to pay the pensions to pensioners, pay the salary due of the transport staff etc. etc. :roll:.

GoI should ask for a break-down of figures. Let GoKL explain, how they arrived at this sum.

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Re: Indian Economy - News & Discussion

Post by MehtaRahulC » Wed Dec 20, 2017 5:40 pm

I am writing a long article against proposed FRDI bill and the nonsense concept of bail-in. It will take some time
.
The article only states MY opinion on FDRI and bailin.
.
As per "facts", you might want to answer following questions - why many many people deposited their savings in PSU banks and not in private banks like ICICI etc even though the private banks offer 1% more interest, eg when PSU banks offered 8% interest, private banks used to offer 9% interest , which is, (9 - 8 ) / 8 = 1/8 = 12.5% higher !!
.
So why didnt people deposit lakhs and even crores of their savings their savings in PSU banks, even though only Rs 1 lakh was insured?
.
Answer to this question may effect your opinion on FRDI and bail-in

SSundar
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Re: Indian Economy - News & Discussion

Post by SSundar » Wed Dec 20, 2017 7:56 pm

MehtaRahulC wrote:
Wed Dec 20, 2017 5:40 pm
Answer to this question may effect your opinion on FRDI and bail-in
Lack of knowledge and long term practice. People have always "trusted" that PSUs will never go down and the government always has their back.

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Re: Indian Economy - News & Discussion

Post by chetak » Sat Dec 23, 2017 2:55 am

They seem to have preemptively sacked the guy before the fires reached the higher echelons of their management.

Pathetic risk analysis and piss poor appreciation of the business/political climate.

A crony once is not a crony always. Maybe they did not even consider the change in govt that took place some years ago??


http://www.newindianexpress.com/busines ... 34523.html
Airtel Payments Bank MD and CEO Shashi Arora quits after firm's Aadhaar e-KYC misuse
22nd December 2017


NEW DELHI: Airtel Payments Bank Managing Director and CEO Shashi Arora has resigned in the wake of the firm's eKYC licence suspension by Aadhaar-issuing body UIDAI.

"Shashi has decided to move on to pursue opportunities outside of Airtel. We wish Shashi the very best for his future endeavours," the company said in a statement.

Arora has been working with Airtel in senior leadership roles since 2006. He was appointed MD and CEO of Airtel Payments Bank on June 1, 2016.

"He has been an asset for Airtel and over the years has contributed to the company’s growth story. Having led the operations in key telecom circles followed by building a strong DTH business, he has laid the foundation for Airtel's payments bank operations," the statement said.

The Unique Identity Authority of India (UIDAI) had barred Bharti Airtel and Airtel Payments Bank from conducting Aadhaar-based verification of customers using the eKYC process.

The action was taken following allegations that Bharti Airtel was using the Aadhaar-eKYC based SIM verification process to open payments bank accounts of its subscribers without their 'informed consent'.

UIDAI on Thursday allowed Bharti Airtel to use Aadhaar for re-verification of its mobile customers till January 10 with stiff riders after it returned Rs 138-crore LPG subsidy remitted to the unsolicited payments bank accounts.

It, however, maintained that Airtel Payments Bank eKYC licence will remain suspended till final enquiry and audit report.

MehtaRahulC
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Re: Indian Economy - News & Discussion

Post by MehtaRahulC » Wed Dec 27, 2017 3:22 pm

Electricity generation growth in nov-2017 , wrt nov-2016 = WHOPPING 1.66% !!!
.
source - GoI website - page-4 of http://www.cea.nic.in/reports/monthly/e ... ary-11.pdf
.
so per capita growth = 1.67% - 1.2 % = approx 0.5% !!
.
imo, economy is heading for a royal crash.

Deans
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Re: Indian Economy - News & Discussion

Post by Deans » Thu Dec 28, 2017 4:09 am

MehtaRahulC wrote:
Wed Dec 27, 2017 3:22 pm
Electricity generation growth in nov-2017 , wrt nov-2016 = WHOPPING 1.66% !!!
.
source - GoI website - page-4 of http://www.cea.nic.in/reports/monthly/e ... ary-11.pdf
.
so per capita growth = 1.67% - 1.2 % = approx 0.5% !!
.
imo, economy is heading for a royal crash.
Not really. Monthly growth (in the same cea website) averages 4.13% over last year. 1.6% was for Nov 2017 over Nov 16 only. There is a separate BP study which says that our annual growth in power consumption at 4.2% (in 2017) is the highest in the world. It is China which has more questionable numbers since, in the same BP study, China's increase in power consumption over 2016, was just 1.9%.

More significantly, we are consuming power more efficiently. For e.g. current savings on use of LED lights are approx 13000 cr a year, which should increase to Rs 20,000 cr annually, in a year. That alone has reduced our overall power consumption by over 1% Add to that more efficient use of power by industry. GDP gains come from increase in productivity ( producing more per unit of power), as well as increase in output (which uses more power).

Deans
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Re: Indian Economy - News & Discussion

Post by Deans » Thu Dec 28, 2017 4:26 am

Aditya_V wrote:
Tue Dec 19, 2017 8:37 am
Sachin wrote:
Tue Dec 19, 2017 7:05 am
Don't know how the situation is in other states, but Number #1 state Kerala seems to be in a big mess
And some supporters claim this is the best manged, greatest ever state.
I have helped a former intern, now in the US, with a paper comparing the Gujarat vs. Kerala model of devp. Kerala does worse than Gujarat even in several human development measures. Whatever strengths it has - e.g. literacy, sex ratio and child mortality, were true even at the time of
independence. Kerala has not built on its supposedly superior human capital and as a result its GDP growth is no better than India's - it would be
similar to West Bengal if it were not for Gulf remittances. High literacy for Kerala is of marginal benefit, when there are no jobs in the state and Malayalam is not understood outside the State.

On the other hand, the gap between Gujarat's GDP growth and India's, since 2002, (Gujarat GDP growth being higher than India), has been increasing - despite allegedly poor human capital. An example - Gujarat has a far higher percentage of kids attending Govt school than the supposedly well financed public school system of Kerala (where more than half the kids depend on private schools).

I can't post the paper here due to copyright. Suffice to say that States with alternate models of development have done better than Kerala.

Sachin
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Re: Indian Economy - News & Discussion

Post by Sachin » Thu Dec 28, 2017 7:07 am

Deans wrote:
Thu Dec 28, 2017 4:26 am
High literacy for Kerala is of marginal benefit, when there are no jobs in the state and Malayalam is not understood outside the State.
....
I can't post the paper here due to copyright. Suffice to say that States with alternate models of development have done better than Kerala.
True. A lots of Goebbels-ian propaganda by the commies seems to have every Keralite feel that they are now pretty much a "country" living at European standards of living 8). The two kingdoms (Kochi & Thiruvithamkoor) had given good focus on education even during the pre-Independence days. The contribution of the X'ian missionaries too are really great on this aspect. May be the British Malabar side was slightly weak on these aspects (as decision making was done at Madras; Malabar being only a district of the Madras Presidency).

One false narrative peddled in Kerala is that "100% literacy == 100% genius", which today I realize is a big folly. Being able to read a bus board is fine, but equating that with brilliance is another thing. Even today Malayalam news papers reports about "P.Hd Scholar working as a bus conductor" and "Passing out parade of 120 police constables; includes 20 B.Tech graduates, 15 B.Ed Graduates, 5 M.B.A, 5 M.C.As". All this while the expected qualification is 10th Std, and the job profile even today only requires a 10th standard pass. If these graduates had any real acumen & expertise; I am sure the entire top level bureaucracy in India would now only have Keralites. But that certainly is not the case.

Two day's back the state had pawned two depots of Ke.SRTC to get money to pay the salary & pension dues. Huge money is being asked for the Okhi relief, it is as if that every Panchayath in the state has suffered from the cycle. So as I see it, De.Mo & GST roll out has really brought out the chinks in the Armour of KL.

PS: But all the above did not stop the state's Health Minister to claim Medical expense reimbursement based on food bills (Kerala Parathas, Gobi Manchurian et.al).

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Re: Indian Economy - News & Discussion

Post by MehtaRahulC » Tue Jan 02, 2018 8:15 am

https://economictimes.indiatimes.com/ne ... 329420.cms
.
FRDI Bill: Worried HNIs dial money managers over bail-in clause
.
In the past month, there has been a public hullabaloo about whether bank deposits are safe and whether depositors' money would be used to bail-in banks.

The fear of depositors' money being used for bail-ins of banks under the Financial Resolution and Deposit Insurance (FRDI) Bill has triggered panic among wealthy Indians, with many of them seeking expert help to mitigate any risk to their deposits. .... click link for full news
Whats there is to know? Its more than clear that once the FRDI bill is passed, FDs in PSU are NOT safe !! The FR corporation that will be setup can very much use FDs for bailin.

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Re: Indian Economy - News & Discussion

Post by Tanaji » Tue Jan 02, 2018 9:17 am

^^^Your own link clearly states that the deposits are safe with assurances given by no less than the PM and FM himself. Yet you persist with your rumour mongering. Now these assurances may not matter to you or disagree with your agenda but that is all the government can clarify.

It is clear you are trolling.

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Re: Indian Economy - News & Discussion

Post by Primus » Tue Jan 02, 2018 11:54 am

I have learned to simply skip certain member's posts completely

Less indigestion to cope with this way :-)

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Re: Indian Economy - News & Discussion

Post by MehtaRahulC » Wed Jan 03, 2018 8:42 am

Primus wrote:
Tue Jan 02, 2018 11:54 am
I have learned to simply skip certain member's posts completely
+108
Tanaji wrote:
Tue Jan 02, 2018 9:17 am
^^^Your own link clearly states that the deposits are safe with assurances given by no less than the PM and FM himself. Yet you persist with your rumour mongering. Now these assurances may not matter to you or disagree with your agenda but that is all the government can clarify.

It is clear you are trolling.
Are you FRDI-rakshak? Just asking ... because were (and are) bharat-rakshak, rss-rakshak, modi-rakshak and also EVM-rakshak. Busy man ...

The link I gave only mentions fear of depositors, and some OPINIONS by people. Many opine that deposits in PSU are safe and many opine opposite. I read the whole 147 page PDF (yes 147 pages) and I am also converting it into proper text that I can put as FB status. my opinion is that PSU deposits are NOT 100% safe once this bill gets passed.

The proposed law creates so called "Financial Resolution Corporation" which will have men appointed by FinMin, RBI etc. And these men can order any bank including PSU bank to undergo a bailin, if they see a need. So law DRAFT TEXT is clear that PSU banks' deposits can be used for bailin. rest is each one's opinion. As such, FinMin Arun Jetleiy says that
http://www.newindianexpress.com/busines ... 42793.html
.
Arun Jetliey : As far as public sector banks in India are concerned, there always has been, and will remain, an implicit guarantee of the government as far as supporting depositors in those banks are concerned.".
But that is a mere statement from Jetliey, which can be a chunavi or parliamentary jumla. The law draft does NOT say so. If Jetley is serious, why doesnt he write this in LAW that PSU banks will be 100% insured by Govt?

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Re: Indian Economy - News & Discussion

Post by Trilobite » Fri Jan 05, 2018 8:12 pm

Economy tanking just in time for 2019 ? If economy keep going south then there could be another "India Shining" redux.

GDP growth may slow to 4-yr low of 6.5% despite H2 pickup

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Re: Indian Economy - News & Discussion

Post by Shakuni » Sun Jan 07, 2018 11:51 am

Trilobite wrote:
Fri Jan 05, 2018 8:12 pm
Economy tanking just in time for 2019 ? If economy keep going south then there could be another "India Shining" redux.

GDP growth may slow to 4-yr low of 6.5% despite H2 pickup
Worst nightmare! :shock:
Can't stay insulated from global/macro-economic trends. One can only hope that GST implementation together with the infrastructure investments will start showing some results by then. Economy + the Jignesh Mewani-esque attack on the caste faultlines can be a serious threat to 2019.

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Re: Indian Economy - News & Discussion

Post by Hari Seldon » Mon Jan 08, 2018 1:56 am

It has become clear that the economy is not doing as well as hoped.

Loosen the purse strings, fiscal and monetary - as well as tax slabs etc in time for 2019.

Also expand dole programs like MNREGA and MSP and farm loan waivers if you have to.

Do whatever it takes but don't lose 2019 to the BIFs, the PIFs may never recover after that catastropy. Onlee.

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Re: Indian Economy - News & Discussion

Post by Schmidt » Mon Jan 15, 2018 6:19 am

Reg FRDI Bill , there is genuine anxiety among depositors

But then , please read the attached article
http://www.businesstoday.in/sectors/ban ... 65797.html

It says that the banks insure the FDs at a rate of 10paise per 100000 deposit
So the insurance premium for a 1 cr deposit is Rs 10,000 only

The government should give the depositors the option of paying this insurance premium directly with the govt and not with the respective bank and get peace of mind that their hard earned money is safe

This should apply to PSU and private banks as well

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