"3.3 The cash position of the Government during Q2 of FY17-18 was tight and the Government had to resort to W & M Advances from RBI on many occasions. ...."
"the government has come out with a Rs. 2.12 lakh crore recapitalisation plan and has already taken nod of Parliament to pump in Rs. 80,000 crore through recapitalisation bonds in the current fiscal ending March, 2018"
Decoded: Because the Govt. has no money to bailouit even a single bank, the DEA (Dept of Economic Affairs) will direct printing Rs. 80,000 crores of bonds which will be purchased by the same PSU banks which are being bailed out.
"Holding Pattern
4.4 .. Banks continue to dominate as the major investor category, even with their share in
holding of Government securities decreasing to 39.7 per cent at end-Jun 2017 from 40.5 per cent as at end-Mar 2017. ... "
Decoded: Well managed bank managements are no longer willing to buy RBI / GoI sovereign bonds which are being sold overseas as "junk bonds" for which Modi now travels to Davos as RBI's supersaleman. 8 years back our Banks held 60% of GoI securities.
No comments:
Post a Comment