Government Liabilities Increased To Rs 93.89 Lakh Crores at December-end

Government Liabilities Increased To Rs 93.89 Lakh Crores at December-end

Total liabilities of the Government increased to Rs 93.89 lakh Crore at the end of December 2019, up 3.2% as compared to the previous quarter, said Finance Ministry data today.

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The liabilities, including those under the public account, had stood at Rs 91,01,484 Crores at the end of September 2019. Public debt accounted for 90.4% of total outstanding liabilities at the end of December 2019.

The Public Debt Management Quarterly Report further said the proportion of debt (dated securities) maturing in less than one year was higher at 6.64% at the end of December 2019 as compared to its previous quarter level of 5.41%.

Debt maturing in the next 5 years worked out to 31.7% of total outstanding debt at the end of December 2019 or 6.3 % of outstanding stock, on an average, needs to be repaid every year over the next 5 years.

ICICI Bank has launched ‘ICICIStack’ a set of Digital Banking services and APIs (Application Programme Interface) which will enable customers to undertake a range of banking operations from their homes, at a time when they have been advised to stay indoors in the wake of the coronavirus outbreak.

Yes Bank today said it has resumed operations and all its banking services are available for its customers now.The bank stated, our banking services are now operational. You can now experience the full suite of our services. Thank you for your patience and co-operation.

The majority of Yes Bank customers will withdraw the entire money parked in the troubled lender which required a government-led bailout, as per Twitter poll. Up to 53% of the respondents said they will take out their money, said the poll commissioned on 18th March. Only 27.4% said they will keep their money while 7.2% said they will be depositing more money in their Yes Bank accounts.

Bank of India & Central Bank of India were aiming to raise funds to meet growth targets and build up capital for regulatory requirements have shelved their plans due to the disruption to markets caused by the coronavirus pandemic.

Karur Vysya Bank (KVB), has announced the launch of precious metals business. The bank said that KVB serves approximately 6,000 jewellers and jewellery manufacturers. In order to serve them fully, KVB now offers precious metals (gold & silver) to its corporate customers. This will enable our customers compete more effectively in this highly competitive industry.

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