The State Bank of India (SBI) has refused to disclose under the Right to Information (RTI) Act the details of the electoral bonds furnished to the Election Commission (EC) of India, claiming that it is personal information held in a fiduciary capacity, even though the records are in the public domain on the poll panel’s … Read more
The Reserve Bank will ‘shortly’ come out with revised guidelines on fraudulent account classification to take into account the recent apex court order that asked lenders to ensure natural justice to a defaulter before labelling him a fraudster. “The SC has given a judgement, saying natural justice has to be provided to a borrower before … Read more
Cash-strapped Pakistan’s current account deficit shrank 90.2 per cent to USD 0.24 billion in January from USD 2.47 billion in the same month last year, the data shared by the State Bank of Pakistan (SBP) showed on Monday. “Current Account Deficit (CAD) recorded USD 0.2 billion in Jan 2023 against a deficit of USD 2.5 … Read more
The International Monetary Fund (IMF) has concluded its first round of “tough talks” with Pakistan and said that Fund will share nine tables — comprising macroeconomic and fiscal framework — with the Pakistan authorities which will pave way for holding policy-level talks next week, reported Geo News. If Pakistan and IMF reach a consensus by … Read more
Amid yawning current account deficit (CAD) — the difference between inflow and outflow of foreign currency, Pakistan received lower remittances in May. This will lead to fresh concerns for Pakistan Prime Minister Shehbaz Sharif and his team as Islamabad has urgently sought a bailout package from the International Monetary Fund (IMF). The IMF has already … Read more
Mumbai: Banks are struggling to create a common pact for lending to companies that will need funds to grow, rejig their loans, and battle the slowdown wrecked by the Covid-19 pandemic. Large private and foreign banks have voiced their reservations against the State Bank of India’s (SBI) proposal to frame an omnibus inter-creditor agreement (ICA) … Read more