RBI

Asian stocks edged up following record closes in Wall Street benchmarks after encouraging economic data, although investors kept an eye on developments in the coronavirus outbreak.

The government is widely expected to raise spending on infrastructure and cut some personal tax to spur consumer demand and investment.

In July last year, Sitharaman had said that the Modi government is not a "suitcase-carrying government", in an apparent jibe at the past dispensations.

According to a media report, Hindus, Sikhs, Buddhists, Jains, Parsis and Christians refugees -- from Pakistan, Bangladesh and Afghanistan holding long-term visas (LTVs) -- will have to disclose their religion in the bank's KYC forms.

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On November 15, the government empowered the RBI to refer stressed non-banking finance companies and housing finance companies having assets worth at least Rs 500 crore to the insolvency court.

In late September, the RBI had restricted activities of PMC Bank for six months and asked it not to grant or renew any loans and advances, make any investment or incur any liability, including borrowal of funds and acceptance of fresh deposits.

Solicitor General Tushar Mehta, appearing for the Centre, informed the court that the government shares the concern of PMC bank account holders and are taking effective steps to attach the properties of wrongdoers among PMC bank officials.

Based on a complaint filed by the bank against its officials and borrowers associated with the fraud/financial irregularities in the bank and manipulation of its books of accounts, the Economic Offences Wing, Maharashtra Police, has started its investigations into the matter.