KSA Infomatrix

Q.1 Is NRC a part of the CAA? Ans . No. CAA is a separate law and NRC is a separate process. The CAA has come into force nationwide after its passage from Parliament, while the NRC rules and procedures for the country are yet to be decided. The NRC process that is going on in Assam has been implemented by the Honourable Supreme Court and mandated by the Assam Accord. Q.2 Do Indian Muslims need to worry about CAA+NRC? Ans . There is no need for an Indian citizen of any religion to worry about CAA or NRC. Q.3 Will NRC be for people of a particular religion? Ans . No. NRC has nothing to do with any religion at all. NRC is for every citizen of India. It is a citizen register, in which names of every will be recorded. Q.4 Will people be excluded in NRC on religious grounds? Ans . No, NRC is not about any religion at all. Whenever NRC will be implemented, it will neither be applied on the basis of religion nor can it be implemented on the basis of religion. No one can be ex...

India’s banks are set for a $7.6 billion earnings windfall this month as the country’s bankruptcy court has made sudden progress in clearing a backlog of large cases. The lenders are expected to benefit from the recovery process from four failed companies - Essar Steel India Ltd., Prayagraj Power Generation Co., Ruchi Soya Industries Ltd. and RattanIndia Power Ltd. - which should be completed in December, according to people familiar with the matter. The gains will be welcome news for banks, which are facing a further increase in their $130 billion pile of bad loans thanks to India’s shadow banking crisis and the slowdown in the economy. Many lenders are expected to set aside additional provisions in their earnings reports for this quarter. The total proceeds from the bankruptcy cases should total Rs 54,000 crore ($7.6 billion), according to Karthik Srinivasan, group head of financial sector at ICRA Ratings, the local arm for Moody’s Investors Service. The banks should be able ...

Under fire over delay in GST compensation, the government today released Rs 35,298 crore to states. Facing heat over delay in compensation, the government today released Rs 35,298 crore to states. The matter was likely to be taken up in the upcoming GST Council meeting where states, especially the Opposition-ruled ones, expected to try and pin the Centre down over the delay in the release of compensation. Speaking at the India Economic Conclave event of the Times Network, finance minister Nirmala Sitharaman, today, acknowledged the delay in payment of compensation on account of shortfall in GST collection. She said that the government at the Centre and the states are working to augment the GST revenue. She said that the shortfall is due to extension granted in filing of returns to flood-hit states and slowdown in consumption faced by certain sectors. On the issue of rates rejig, the finance minister said that the buzz of a rate restructuring is everywhere except at he...