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Loan ‘melas’ are back: PSBs to hold credit meets in 400 districts, says FM Stressed MSME assets will not be labelled NPAs till March 31, 2020 Current Affairs  :- Open part banks (PSBs) will hold open gatherings with borrowers for circulating credits in 400 areas of the nation to lift request in front of the merry season, Union Finance Minister Nirmala Sitharaman declared on Thursday. In this, the banks will take help from non-banking monetary organizations (NBFCs). The National Democratic Alliance (NDA) government will pursue the strides of its antecedent, the United Progressive Alliance (UPA) government, which had presented the idea of “advance mela” to lift credit by guiding banks to loan to individuals through open gatherings. Further, the administration has advised PSBs not to proclaim focused on resources of miniaturized scale, little and medium undertakings (MSMEs) non-performing resources (NPAs) till March 31 one year from now. This will come as a notewor...

IMF says India’s growth ‘much weaker’ than expected; cuts FY20 projection The economic growth slowed to a seven-year low to 5 per cent in April to June quarter from 8 per cent a year ago, as per the government data Current Affairs  :- Global Monetary Fund (IMF) on Thursday said that India’s monetary development is “a lot flimsier” than anticipated because of corporate and natural administrative vulnerability and “waiting shortcoming” in some non-Bank budgetary organizations. “Once more, we will have a crisp arrangement of numbers coming up however the ongoing monetary development in India is a lot more fragile than anticipated, fundamentally because of corporate and natural administrative vulnerability and waiting shortcoming in some non-Bank money related organizations and dangers to the standpoint are tilted to the drawback, as we like to state,” IMF representative Gerry Rice told columnists at a news gathering. The monetary development eased back to a seven-year ...