Indian Economy: News and Discussion

IndianYonko

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@Haldilal

1. What is meant by writing off NPAs?
2 What are impacts of writing off/ not writing off NPAs.?

Pls answer these questions to me like you would explain it to a noob.
 

Haldilal

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@Haldilal

1. What is meant by writing off NPAs?
2 What are impacts of writing off/ not writing off NPAs.?

Pls answer these questions to me like you would explain it to a noob.
Ya'll Nibbiars NPA Bad loans.

Writing off's means given up a particular amount off the loan as loss.
 

Haldilal

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Ya'll Nibbiars and them the GOI have to Infuse Capital that means printing money to offload the PSU's Bank's. The IDBI is the prime example of this.
 

sorcerer

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Significant improvement in India’s score in United Nation’s Global Survey on Digital and Sustainable Trade Facilitation


Posted On: 23 JUL 2021 8:49AM by PIB Delhi



India has scored 90.32% in United Nation’s Economic and Social Commission for Asia Pacific's (UNESCAP) latest Global Survey on Digital and Sustainable Trade Facilitation. The Survey hails this as a remarkable jump from 78.49% in 2019. The survey result can be accessed at(https://www.untfsurvey.org/economy?id=IND).


After evaluation of 143 economies, the 2021 Survey has highlighted India's significant improvement in the scores on all 5 key indicators
, as follows:


  1. Transparency:100% in 2021 (from 93.33% in 2019)
  2. Formalities: 95.83% in 2021 (from 87.5% in 2019)
  3. Institutional Arrangement and Cooperation: 88.89% in 2021 (from 66.67% in 2019)
  4. Paperless Trade: 96.3% in 2021 (from 81.48% in 2019)
  5. Cross-Border Paperless Trade: 66.67% in 2021 (from 55.56% in 2019)

The Survey notes that India is the best performing country when compared to South and South West Asia region (63.12%) and Asia Pacific region (65.85%). The overall score of India has also been found to be greater than many OECD countries including France, UK, Canada, Norway, Finland etc. and the overall score is greater than the average score of EU. India has achieved a 100% score for the Transparency index and 66% in the “Women in trade” component.











CBIC, has been at forefront of path breaking reforms under the umbrella of 'Turant' Customs to usher in a Faceless, Paperless and Contactless Customs by way of a series of reforms. This has had a direct impact in terms of the improvement in the UNESCAP rankingson digital and sustainable trade facilitation.


Further, during the Covid19 pandemic, Customs formations have made all efforts to expedite Covid related imports such as Oxygen related equipments, life-saving medicines, vaccines etc.A dedicated single window COVID-19 24*7 helpdesk for EXIM trade was created on the CBIC website to facilitate quick resolution of issue(s) faced by importers.
About the Survey:


The Global Survey on Digital and Sustainable Trade Facilitation is conducted every two years by UNESCAP. The 2021 Survey includes an assessment of 58 trade facilitation measures covered by the WTO’s Trade Facilitation Agreement. The Survey is keenly awaited globally as it evidences whether or not the trade facilitation measures being taken have the desired impact and helps draw comparison amongst countries. A higher score for a country also helps businesses in their investment decisions.
 

sorcerer

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Centre to set up/upgrade 2 lakh micro food processing enterprises from 2020-21 to 2024-25 with an outlay of Rs. 10,000 crores-Prahlad Singh Patel



Union Minister of State for Food Processing Industries Shri Prahlad Singh Patel today said that as part of the Aatmanirbhar Bharat Initiative, MoFPI is implementing a Centrally Sponsored Schemefor setting up/upgradation of 2 lakh micro food processing enterprises. The enterprises can be set up or upgraded through credit linked subsidy during five years from 2020-21 to 2024-25 with an outlay of Rs. 10,000 crores. In a written reply to a question in the Rajya Sabha, Shri Patel said, the Central Scheme-PM Formalisation of Micro Food Processing Enterprises Scheme (PMFME) provides financial, technical and business support for these enterprises.


Moreover, the Ministry of Food Processing Industries (MoFPI) has been implementing Central Sector Umbrella Scheme - Pradhan MantriKisan SAMPADA Yojana (PMKSY) since 2016-17 for overall growth and development of food processing sector, including processing of agro- products and thus increasing the income of the farmers.


The component schemes of PMKSY are - (i) Mega Food Park, (ii) Integrated Cold Chain and Value Addition Infrastructure, (iii) Creation /Expansion of Food Processing & Preservation Capacities, (iv) Infrastructure for Agro-Processing Clusters, (v) Creation of Backward & Forward linkages, (vi) Food Safety and Quality Assurance Infrastructure, (vii) Human Resource and Institutions, (viii) Operation Greens. Under component schemes of PMKSY, MoFPI provides mostly credit linked financial assistance (capital subsidy) in the form of grants-in-aid to entrepreneurs for setting up of food processing / preservation industries.


So far, Ministry has approved 41 Mega food Parks, 353 Cold Chain projects, 63 Agro Processing Clusters, 292 Food Processing Units, 63 Creation of Backward & Forward Linkages Projects & 6 Operation Green projects across the country under corresponding component schemes of PMKSY.


These sanctioned projects are estimated to benefit about 34 lakh farmers on completion. In the evaluation study of Integrated Cold Chain and Value Addition Infrastructure Scheme conducted by M/s NABARD Consultancy Limited (NABCONS) in Year 2020, it has been estimated that captive projects under the scheme have resulted in increase in farm-gate prices by 12.38 % and each project is estimated to benefit more than 9500 farmers.
 

Haldilal

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Ya'll Nibbiars the LIC IPO would be :

1 . The biggest in India.

2 . The Largest in the Sub Continent.

3 . The Second largest IPO by the amount raised.

4 . The Second Largest in the Asia.

5 . The Second Largest by the Market Valuation's.

6 . And overall Second largest in the World.

And will increase the BSE, NSE valuations by 7 percent.
 

Haldilal

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Ya'll Nibbiars the LIC IPO would be :

1 . The biggest in India.

2 . The Largest in the Sub Continent.

3 . The Second largest IPO by the amount raised.

4 . The Second Largest in the Asia.

5 . The Second Largest by the Market Valuation's.

6 . And overall Second largest in the World.

And will increase the BSE, NSE valuations by 7 percent.
Ya'll Nibbiars not counting inflation Then the NTT is the largest by amount raised and second largest by market capitalisation's.
 

sorcerer

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India raises concerns with EU, Russia over tea exports

India has raised concerns at the European Union’s decision to classify dye-making chemical anthraquinone as a pesticide, calling it a non-tariff barrier that has hit tea exports to the trade bloc.

The government has asked the EU to share the scientific basis for setting the maximum residue level for imported tea, its sampling and testing methodology, and the international standards on which such assessment is based.



Why Indian TEA became one pivot point of the GRETA Farmer's protest Tool kit promoted by the media stooges in India.
The west is following up on their propaganda in economic terms
 

Haldilal

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Ya'll Nibbiars the LIC IPO would be :

1 . The biggest in India.

2 . The Largest in the Sub Continent.

3 . The Second largest IPO by the amount raised.

4 . The Second Largest in the Asia.

5 . The Second Largest by the Market Valuation's.

6 . And overall Second largest in the World.

And will increase the BSE, NSE valuations by 7 percent.
Ya'll Nibbiars not counting inflation Then the NTT is the largest by amount raised and second largest by market capitalisation's.
Ya'll Nibbiars and it will be Public offering without listing.
 

Haldilal

लड़ते लड़ते जीना है, लड़ते लड़ते मरना है
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Ya'll Nibbiars the LIC IPO would be :

1 . The biggest in India.

2 . The Largest in the Sub Continent.

3 . The Second largest IPO by the amount raised.

4 . The Second Largest in the Asia.

5 . The Second Largest by the Market Valuation's.

6 . And overall Second largest in the World.

And will increase the BSE, NSE valuations by 7 percent.
Ya'll Nibbiars not counting inflation Then the NTT is the largest by amount raised and second largest by market capitalisation's.
Ya'll Nibbiars and it will be Public offering without listing.
Ya'll Nibbiars and the Largest Public offering without listing.
 

another_armchair

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@Haldilal

1. What is meant by writing off NPAs?
2 What are impacts of writing off/ not writing off NPAs.?

Pls answer these questions to me like you would explain it to a noob.
For a bank -

Deposits are liabilities.

Advances/Loans are assets.

Lets say, a bank has deposits worth 100 crores.

It advances loans worth 70 crores.

If all its depositors come to the bank to close their account and withdraw their money one fine morning, the bank will have to down its shutters and run for the hills because the bank has a shortfall of 70 crores.

Now, if one of the largest borrowers has borrowed 30 crores, defaults on its first EMI payment and doesn't pay interest either, by 2nd month, it will be regarded as an NPA. Say, the company goes to IBC and the negotiation committee tells the bank to take a 90% haircut and manage with a 10% payment, the bank has no choice but to write off 27 crores, get 3 crores and stfu. Now, this shortfall of 27 crores has to be made good from somewhere. If the bank's NIM's are good, it can manage... if it is unable to bring enough cash to stabilize its books, then the Govt. can infuse cash(taxpayers money collected through a tax bounty called fuel cess) or merge it with some other bank.

The borrower otoh goes scott free.

SBI & others managed to recover a large amount of cash from Mallaya through sale of his company's shares.



AFAIK, none of the lenders can recover money from their borrowers under IBC. Once resolution is done, everybody gets a free haircut and the taxpayer takes the tab.
 

sorcerer

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Runaya Establishes India’s First Integrated Aluminium Dross Processing Unit in Odisha’s Jharsuguda, CM Patnaik Inaugurated plant


Jharsuguda : Runaya, one of India’s fastest growing manufacturing start-ups, today announced the inauguration of its aluminium dross processing and refining unit, the first such facility in India. Set up at Jharsuguda in Odisha, the facility provides end-to-end green and sustainable solution for recovery of aluminium from dross and processing residual waste to manufacture steel slag conditioners and was inaugurated by Shri Naveen Patnaik, Hon’ble Chief Minister of Odisha.

 

Haldilal

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For a bank -

Deposits are liabilities.

Advances/Loans are assets.

Lets say, a bank has deposits worth 100 crores.

It advances loans worth 70 crores.

If all its depositors come to the bank to close their account and withdraw their money one fine morning, the bank will have to down its shutters and run for the hills because the bank has a shortfall of 70 crores.

Now, if one of the largest borrowers has borrowed 30 crores, defaults on its first EMI payment and doesn't pay interest either, by 2nd month, it will be regarded as an NPA. Say, the company goes to IBC and the negotiation committee tells the bank to take a 90% haircut and manage with a 10% payment, the bank has no choice but to write off 27 crores, get 3 crores and stfu. Now, this shortfall of 27 crores has to be made good from somewhere. If the bank's NIM's are good, it can manage... if it is unable to bring enough cash to stabilize its books, then the Govt. can infuse cash(taxpayers money collected through a tax bounty called fuel cess) or merge it with some other bank.

The borrower otoh goes scott free.

SBI & others managed to recover a large amount of cash from Mallaya through sale of his company's shares.



AFAIK, none of the lenders can recover money from their borrowers under IBC. Once resolution is done, everybody gets a free haircut and the taxpayer takes the tab.
Ya'll Nibbiars asked meaning not examples. Minu 5.
 

another_armchair

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Ya'll Nibbiars the LIC IPO would be :

1 . The biggest in India.

2 . The Largest in the Sub Continent.

3 . The Second largest IPO by the amount raised.

4 . The Second Largest in the Asia.

5 . The Second Largest by the Market Valuation's.

6 . And overall Second largest in the World.

And will increase the BSE, NSE valuations by 7 percent.
Indian equities and debt market is nothing but an external department of LIC.

LIC IPO would be the biggest conflict of interest witnessed :rofl:
 

Crazywithmath

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India raises concerns with EU, Russia over tea exports

India has raised concerns at the European Union’s decision to classify dye-making chemical anthraquinone as a pesticide, calling it a non-tariff barrier that has hit tea exports to the trade bloc.

The government has asked the EU to share the scientific basis for setting the maximum residue level for imported tea, its sampling and testing methodology, and the international standards on which such assessment is based.



Why Indian TEA became one pivot point of the GRETA Farmer's protest Tool kit promoted by the media stooges in India.
The west is following up on their propaganda in economic terms
And these morons call us protectionist. :playball:
 

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