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

The Times of India (New Delhi edition) - - Times Sport - Suro­[email protected] times­group.com

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.

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