13 October 2017

NBFC bad loans rise to 5% in 5 years: RBI

The Reserve Bank of India (RBI) has said that the Non-banking financial companies (NBFCs), key players in the financial spectrum, have witnessed a steady deterioration in asset quality in the past five years. Gross non-performing assets (GNPA) ratio for NBFCs increased to five per cent at end-March 2017 from 2.9 per cent at end-March 2012. In absolute terms, bad loans of NBFCs work out to around Rs 74,230 crore as the advances by the sector were Rs 14.84 lakh crore. On the other hand, the NPA ratio of banks increased to 10.21 per cent in June 2017 from 8.42 per cent in June 2016. 

UP government launches ‘Sankalp Seva’ bus service

Uttar Pradesh Chief Minister Yogi Aditynath flagged off 50 buses under the 'Sankalp Seva' service in Lucknow. State Transport Minister Swatantra Dev Singh was also present at the event. These buses will connect as many as 6,000 villages.
The chief minister said that to honour the sacrifices of the martyrs, the state government will construct 'Gaurav Marg Path'. In that 'Gaurav Marg Path', there will be statues of the martyrs.