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COVID-19 caseload in India breaches 91-lakh mark
Top private employer sees jobs in India rising to pre-Covid levels
India’s unemployment rate eased to 6.98% in October from as high as 23.5% in April, according to private research firm Centre for Monitoring Indian Economy. Isaac echoed the figure, saying the rate will return to pre-Covid levels of 6%-7% with the construction and real estate sectors fueling demand for jobs.
S&P sceptical of allowing corporates into Indian banking
“The working group’s concerns regarding conflict of interest, concentration of economic power, and financial stability in allowing corporates to own banks are potential risks,” S&P Global Ratings said in a note.
A former RBI governor, Raghuram Rajan, and a former deputy governor, Viral Acharya, also criticised the proposal, calling it a “bad” idea.
Even though India needed more banks it was not wise to allow industrial houses into banking as the history of such inter-connected lending showed it could be disastrous, they said.
LDF govt puts on hold controversial Kerala Police Act amendment
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