Daily Archives: April 7, 2017

India’s share in the global economy

According to the World Bank Group, India’s GDP (in current US$, 2015) is US$ 2.095 trillion vis-a-vis the World GDP (in current US$, 2015) of US$ 74 trillion. Thus India’s share in the global economy is about 2.83%. For the above calculation, the World Bank Group has used the GDP at purchaser”s prices, which is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It Continue reading →

Merger of Bharatiya Mahila Bank with State Bank of India

The Cabinet in its meeting on 15th March, 2017 has approved the proposal of acquisition of Bharatiya Mahila Bank with State Bank of India. It has come into effect on 1st April, 2017. The merger is aimed at economies of scale and operational efficiency leading to improved supervision process, compliance and productivity in addition to better risk management. There were 103 branches of Bharatiya Mahila Bank functioning in the county as on 31.03.2017. Bharatiya Mahila Bank had extended loans of Rs.191.09 crore to women entrepreneurs Continue reading →