Ease of doing biz: India among 20 most improved countries
Final Rankings Of World Bank To Be Out On Oct 24 RBI puts lending curbs on Lakshmi Vilas Bank
New Delhi: India is among the 20 countries that have improved the most on ‘Ease of Doing Business’, the final score and the rankings of which will be released by the World Bank on October 24.
India made it easier to do business in four areas measured by the bank’s annual ‘doing business’ survey — starting a business, resolving insolvency, trading across borders and construction permits.
The World Bank has published a list of the top-20 reformers — different from the top overall performers with regard to change in business climate — over the 12-month
period ending in May 2019. These countries have made the most progress in implementing reforms to make it easier for small and medium enterprises to do business, according to a spokesperson of the multilateral agency. Starting a business is less costly thanks to abolished fees for filing the incorporation form and electronic memorandum of association, the report said.
The RBI has placed lending restrictions on Lakshmi Vilas Bank citing weak capital and high level of bad loans, days after a probe was initiated against the management of the private sector lender, reports Mamtha A.
However, LVB said the regulator’s restrictions will not have any adverse impact on its normal day-to-day operations, including acceptance or repayment of deposits of customers.
The restrictions come as capital-starved bank awaits the central bank’s approval for a merger with Indiabulls Home Finance. Fair play watchdog CCI has cleared the merger plan.