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Timely data on NBFCs can avoid repeat of IL&FS-type crisis, says Garg

Saturday, January 5, 2019, 7:52 PM

Economic affairs secretary Subhash Chandra Garg on January 5 blamed the lack of real-time data for the ongoing crisis in the shadow banking sector and also called for sound regulations to help develop the sector in an orderly manner. The government is trying to work with the Reserve Bank to create a system for more information about the NBFC sector, the secretary added.
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After two years, Uday Kotak now says note ban was poorly executed

Monday, December 10, 2018, 7:54 AM

The outcome of controversial demonetisation drive would have been "significantly better" if "simple things" like introducing Rs.2,000 currency notes were avoided, banker Uday Kotak has said. The executive vice chairman and managing director of the fourth-largest private sector lender Kotak Mahindra Bank has also said small businesses are in a difficult situation at present and has welcomed the government focus to revive the sector.
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Government may sell IL&FS outright

Tuesday, October 30, 2018, 3:22 PM

The government is examining options including an outright sale of Infrastructure Leasing & Financial Services Ltd., a person with knowledge of the matter said, as the government tries to stem defaults at the lender with $12.6 billion of debt. Other options include splitting businesses according to verticals and disposing them off to several buyers or injecting liquidity at group-level to avoid an outright sale.

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