•To be sure, the bulk of India’s sour loans are in the state banks and stem from lending to large conglomerates, especially in steel and infrastructure. •But analysts said the rise in bad loans among small firms, and even retail borrowing, is worrying and will do little to encourage new loans to help fuel growth. •Stressed loans as a percentage of total loans reached 12.6% at end-June, according to the data, the highest in at least 15 years.
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CURRENT AFFAIRS OCTOBER 2017 77 | Page 9004078746 [email protected]Banks asked to enable core banking in Hindi •The Home Ministry has asked all banks, private and public sector, to enable their core banking facility in Hindi. •Prabhas Kumar Jha, Secretary, Department of Official Language said that banks have been asked to update databases in Hindi and customers should not be compelled to fill forms only in English. •“Software that would help banks transact in Hindi has already been developed by Infosys. Banks should modulate the software in such a way that a customer can get the passbook in Hindi. It should also be in regional languages. Some banks in Gujarat and Maharashtra have done it. ATMs already have a Hindi option,” said Mr. Jha. •He said that as per the Official Languages Act, 1963 there was no provision of punitive action for not using Hindi in official communication but the language could only be promoted through “persuasion and encouragement.” •In 2016, the Official Language department pulled out a 2011 report of the parliamentary standing committee on Hindiand sent it to the then President of India Pranab Mukherjee for his approval in April. As many as 110 out of 117 recommendations in the report were accepted. The Home Ministry issued an advisory to all States and government departments to implement the recommendations. •A Home Ministry official said the recommendations were not mandatory. •In August 2017, President Ram Nath Kovind accepted the remaining recommendations which include “financial services in Hindi.” •Mr. Jha said though States were free to choose their language, Hindi-speaking States should also learn other regional languages like Tamil. •“Crores of people speak Hindi, you cannot escape this language. We want to promote Hindi as a link language…young people from southern States want to learn Hindi for employment opportunities,” he said. •In April 2017, DMK leader M.K. Stalin had accused the BJP government at the Centre of imposing Hindi on “non-Hindi speaking” States and turning India into “Hindia.” •In July 2017, Karnataka Chief Minister Siddaramaiah wrote to the Centre stating that Bangalore Metro Rail Corporation should redesign its signboards without using Hindi language and script.
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