Modi replaces Planning Commission, aiming to boost
growth
India has scrapped its 65-year-old Planning Commission, replacing
it on Thursday with a body he said would do more to involve the regions.
The new
National Institution for Transforming India (NITI) will act more like a think
tank or forum, say its supporters, in contrast with the Commission which
imposed five-year-plans and allocated resources to hit set economic targets.
Bankers meet Friday for sector
reform, PM to attend Saturday
Top bankers,
insurers, financial sector regulators and finance ministry officials will meet in
Pune from Friday for a two-day "retreat" to discuss plans for
revitalising the banking sector.
Prime Minister Narendra Modi will meet bankers
Saturday during the concluding session of the retreat, where an action plan for
reforms in public sector banks (PSBs) will be prepared.
Venture capital
funds focused on social sector to raise Rs 5000 crore in 2015
The positive outlook among investors seems to have
rubbed on to social sector-focused investments as well, with venture capital
funds focused on the social sector planning to raise something in the region of
Rs5,000 crore in 2015.
Also called impact investing, these social sector-focused funds put money in companies that have the potential to usher in social change in the country. Industry trackers say that in the coming years, impact investing in India could be the highest in the world – in terms of the money pumped into these companies.
Also called impact investing, these social sector-focused funds put money in companies that have the potential to usher in social change in the country. Industry trackers say that in the coming years, impact investing in India could be the highest in the world – in terms of the money pumped into these companies.
NBFCs lower exposure
to bank loans, rely on commercial papers and bonds
Non-banking finance companies have lowered their
dependence on bank funds this year, data from the Reserve Bank shows, relying
more on commercial paper and bonds for fundraising as lenders hold back on reducing their base
rates.
Bank lending to NBFCs in October increased by 7% to Rs 3.1 lakh crore compared with a growth of 22.1% in the year-ago month, according to RBI data released earlier this month. Overall loans during the month increased by 11.1% from 17% in October last year.
Bank lending to NBFCs in October increased by 7% to Rs 3.1 lakh crore compared with a growth of 22.1% in the year-ago month, according to RBI data released earlier this month. Overall loans during the month increased by 11.1% from 17% in October last year.
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