a)The Resolution Corporation will monitor financial firms, anticipate risk of failure, take corrective action, and resolve them in case of such failure. The Corporation will also provide deposit insurance up to a certain limit, in case of bank failure.b) The Resolution Corporation or the appropriate financial sector regulator may classify financial firms under five categories, based on their risk of failure. These categories in the order of increasing risk are: (i) low, (ii) moderate, (iii) material, (iv) imminent, and (v) critical.c) The Resolution Corporation will take over the management of a financial firm once it is classified as ‘critical’. It will resolve the firm within one year (may be extended by another year).d) Resolution may be undertaken using methods including: (i) merger or acquisition, (ii) transferring the assets, liabilities and management to a temporary firm, or (iii) liquidation. If resolution is not completed within a maximum period of two years, the … [Read more...] about After Yes Bank fiasco, RBI governor sees merit in creating resolution corporation: How critical is the idea?
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Its roots in the U.S. can be traced back to the New Deal’s Federal Housing Administration, which limited mortgage lending to middle-income, predominantly white suburbs. The problem grew worse in the 1980s and ’90s, when deregulation allowed banks to operate across state lines, leading to a decline in the number of community banks. National banks were less willing to lend in low-income neighborhoods. … [Read more...] about The pandemic makes it clear that the Postal Service should get back into the banking business
Swedish music streaming firm Spotify Technology SA said on June 16 that Juneteenth, or June 19, will be a paid holiday for its US staff. The date commemorates the June 19, 1865 reading in Texas of President Abraham Lincoln's Emancipation Declaration, which brought an end to slavery in the United States. … [Read more...] about What changes are companies making in response to George Floyd protests?
Over the last few months, digital workplaces have become commonplace. Sameer Garde - President, Cisco India & SAARC spoke about Cisco’s on which areas of work were impacted and what key elements comprised his list of priorities, “The most important priority was definitely our employees. With the help of technology, we were able to help them work securely from home using SAAS offerings. Overall, in India, we were able to enable 50,000 employees—between us and our partners—to work from home almost overnight. The other crucial priority for us was our customers. We’ve been working very closely through CSR and other technology initiatives to help the government in managing the pandemic.” … [Read more...] about Leadership in the new normal—CEO’s perspective
"Our Parliamentary Standing Committee is having a most informative and useful meeting with @DBTIndia @IndiaDST @CSIR_IND & @PrinSciAdvGoI on the issue of Science & Technology & COVID-19. Too bad we are not allowed to have virtual meetings so that more MPs could have participated," Ramesh wrote on Twitter. … [Read more...] about COVID-19 vaccine could be available by early 2021: Parliamentary panel told