According to the RBI, the bank experienced
losses due to fraud, excessive lending
practices, fall in economic growth and
corruption. Since the cost of production in oil firms has
increased, there is an increase in petrol
prices of about 75 per liter from Monday.
This has happened for the first time this year.
As per the state money lenders, the aggregate
profits in 2017-2018 and 2018-2019 were
Rs.1,55,603 crores and 1,53,871 crores. Over
time in 2019, they made a provision for non-
performing assets of Rs.2,40,970 crores and
Rs. 2,35,623 crores. Thus, the loss stood at
around 80,000 crores in 2017-2018 and 2018-
2019. According to the daily price notification of
the state-owned oil firms, the petrol price
increased to 5 paise per liter and the diesel
price increased to 10 paise per liter. Further,
the diesel price is 66 per liter and the petrol
price is 75 per liter.
The Minister stated, according to the asset
quality review of the RBI in 2015, there was a
high incidence of all the non-performing assets.
To stop these problems, the RBI has come up
with certain guidelines to detect fraud and put
an end to misappropriate funds from passing
on in Urban Co-operative banks. Any official
involved in these practices would be dismissed
from their service or charged a penalty.
Diesel And Petrol Prices
Shoot Up
Highlights
Last month, the petrol prices increased up
to 2.30 per liter and the diesel prices were
between 65-66 per liter, which is moderate.
In Mid September, there was an issue in
Saudi Arabia which led to an increase in
the petrol prices in New Delhi by 2 Rs and
gradually the price came down.
Due to the rupee-dollar exchange rate, the
prices increased last month. Based on two
factors, international fuel prices and the
dollar exchange rate, there is an increase in
the petrol and diesel prices.
DECEMBER 2019 | WWW.WISHESH.NET