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AKASHVANI SAMACHAR BHARTI 2016

Prime Minister's National Relief Fund(PMNRF) and National Defence Fund(NDF)

All donations towards the Prime Minister's National Relief Fund(PMNRF) and the National Defence Fund(NDF) are notified for 100% deduction from taxable income under Section 80G of the Income Tax Act,1961


Persons With Disabilities(Equal Opportunities,Protection of Rights and Full Participation) Act,1995

 Business News Back 

Repair rural household economy to sustain growth: SBI chief

Calling for focussing on farm sector growth to sustain higher overall growth, the State Bank of India yesterday said revival in credit demand will stay low until the balance sheets of the rural households are repaired.

SBI chairman Arundhati Bhattacharya told at a CII event that banks are facing two challenges-growth capital and asset quality concerns. The asset quality concerns are due to lack of demand and loans given during the boom years and both don’t seem to be improving in the medium term. Therefore, there is a need to focus on farm sector growth. On overall credit growth, which averaged at a multi- decadal low of 5 percent so far, the SBI chief said she does not see a revival in the near-term.

Agriculture sector would need added thrust to drive the economy as it has been badly hit by two successive bad monsoons, she noted. Referring to the impact of demonetisation on farming sector, the SBI chief said those segments like vegetable growers, who could not store produce and had to sell at cheap rates, were hit badly. Similarly, luxury sector has also been hit badly. But the cotton and cane farmers could manage the situation by bartering.


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