Securitisation volumes surged by 128 per cent year-on-year to Rs 32,300 crore during the June quarter, the highest ever recorded in the first quarter, on clarity over GST and a low base,rating agency Icra said.
The green-shoots of demand growth seen in some rural pockets is driven by farm loan waivers and not likely due to real increases in rural incomes and wages, indicative that the economy is still some time away from a full-blown rural revival, says a report.
The Enforcement Directorate today filed a charge sheet against former Congress MLA Rajesh Jain and two others for allegedly making illegal money transactions of nearly Rs eight crore using "fake bank accounts" at the time of demonetisation two years ago.
On July 1 last year, the Goods and Services Tax (GST) had shaken up the real estate sector, already reeling from the after-effects of the two jolts of demonetisation and the Real Estate Regulatory Act (RERA).
Retail lending saw rapid growth in FY18, with the loan book rising by 25 per cent and the number of outstanding accounts by over 32 per cent, said a report.
Shiv Sena pounced on BJP, seeking to know "what action the (current) Finance Minister Piyush Goyal has taken against the RBI governor and chiefs of banks".
"The GST regime was originally associated with formality. But so far, in our view, it has not been able to live up to that promise," HSBC said.
Amid reports of high number of demonetised currency being deposited in Ahmedabad DCCB, regulator Nabard said the deposits were in line with size of the bank and all KYC norms were adhered to.
Urjit Patel is likely to face tough questions from a parliamentary panel tomorrow on a range of issues including amount of cash returned post demonetisation, the PNB fraud and the mounting bad loans.
As many as 73,000 companies that have been deregistered deposited Rs 24,000 crore in bank accounts post demonetisation, according to government data.