RBI Report on Bank Loans
- The Reserve Bank of India's (RBI) weekly statistical supplement released on 14th Feb 2020, showed that Indian banks' loans rose 7.1% in the two weeks to 31st January 2020 from a year earlier.
- It also showed that the deposits increased to 9.9%.
- In the fortnight to January 31, the outstanding loans rose Rs 989.26 billion ($13.86 billion) to Rs 101.03 trillion.
FinMin Addressed the Central Board of Directors of RBI
- The FinMin outlined the thinking behind the Union Budget 2020-21 and the focus areas of the Government in the meeting.
- Shaktikanta Das, Governor chaired the meeting of the Central Board.
- The finance minister was accompanied by Minister of State for Finance Anurag Singh Thakur, Finance Secretary Rajiv Kumar and Expenditure Secretary T V Somanathan, and Dr. Krishnamurthy Subramanian, Chief Economic Advisor.
Bajaj Finance Replaced SBI on BSE
- As per the BSE, Bajaj Finance's market capitalization stood at Rs 2.87 trillion whereas the State Bank of India has a market cap of Rs 2.81 trillion.
- The finance company's shares have risen nearly 12% so far this year.
- The SBI stock has fallen nearly 4% in the last two sessions following concerns over its asset quality in Vodafone Idea and Bharti Airtel's in AGR case.
- Currently, Reliance Industries Ltd is the country’s most valued company with a market cap of Rs 9.48 trillion.
SEBI Permitted Use of Regulatory Sandbox
- The regulatory sandbox is a system that will allow live testing of new products, services and business models by market players on select customers.
- The 'regulatory sandbox' will serve as a testing ground for new business models and technologies that benefit investors, Indian markets and the economy at large.
- Under the regulatory framework, the eligible entities will be granted the facility to experiment with fintech solutions in a live environment and on real customers.
Centre Released Rs 19,950 Cr GST Compensation to States/UTs
- With this release of GST compensation, the Central government has released a total amount of over Rs 1.20 lakh crore towards GST compensation to the states during current fiscal.
- As per Ministry of Finance, total GST compensation cess of Rs 62,611 crore was collected in the FY 2017-18, out of which Rs 41,146 crore was released to the states/UTs that fiscal as GST compensation.
- In FY 2018-19, Rs 95,081 crore was collected as GST compensation cess of which Rs 69,275 crore was released to the states/UTs as GST compensation.
