Discussion held on the performance of the banks was carried out with a focus on supporting credit needs of the economy, in particular, the needs of sectors such as NBFCs, HFCs, MSMEs, sectors under stress and enabling better access to cheaper credit.
Finance Minister Nirmala Sitharaman had recently sparked controversy by saying that the mindsets of millennial adversely affected the automobile industry as they preferred to use radio taxi services instead of buying their own vehicle.
Finance Minister Nirmala Sitharaman is addressing a press conference over the state of economy and also about the measures being undertaken for giving an impetus to the economy.
Denying any politics behind the sudden lack of support to the bill that was passed duly in both Houses of Parliament, Gadkari maintained that it is up to the states to care for the lives of their people.
Vehicle sales across categories registered a decline of 18.71 per cent to 18,25,148 units from 22,45,223 units in July 2018, it added. In fact, all vehicle categories witnessed a decline in sales during the month.
Jaitley passed away in New Delhi on August 24 at the All India Institute of Medical Sciences (AIIMS). He was 66. He was cremated with full state honours at the Nigambodh Ghat in the national capital on August 25.
The slowdown in auto sales also stems from a severe liquidity crunch in the non-banking financial sector which has dried up lines of credit to both auto dealers and potential car buyers.
Chidambram was arrested by CBI in the INX Media case on Aug 21 and sent to CBI custody for interrogation. Last week, a CBI court sent Chidambaram to judicial custody in Tihar Jail till September 19.
Chidambaram, who was arrested by CBI on August 21, had challenged the order given by the trial court of sending him to the CBI custody.
Ahead of Sitharaman’s assurance to bank employees, former Prime Minister Manmohan Singh said the state of the economy was deeply worrying and insisted that last quarter’s GDP growth rate of 5% signals that the country is in the midst of a prolonged slowdown.