By: D.K Choudhary
16th Financial Stability and Development Council Meeting Held in New Delhi
i. The 16th edition of the Financial Stability and Development Council (FSDC) meeting was held on January 5, 2017 in New Delhi under the Chairmanship of the Union Finance Minister Arun Jaitley.
ii. Aim: The FSDC meeting was held to discuss about the obstacles faced by the economy and to bring out the solution to tackle them. Besides, it also aimed at bringing new suggestions and outcomes in order to benefit the upcoming Budget 2017-18.
iii. While chairing the meeting, the Union Finance Minister, Arun Jaitley emphasized the significance of demonetization decision saying that the government’s measures to eliminate the shadow economy and tax evasion are expected to have a positive impact both on GDP and on fiscal consolidation in the long run.
iv. Financial regulators gave suggestions to promote financial stability and also discussed the measures and initiatives to establish and promote the financial stability. Also, the regulators offered their suggestions for the upcoming Budget for 2017-18, which were discussed by the Council.
Droom Partners with Axis Bank for quick sanction of loans
i. Online automobile marketplace Droom has tied up with Axis Bank to provide quick sanction of loans on both new as well as used cars.
ii. Loans will be provided for up to 85% of the value of the car with a tenure of 1-5 years.
iii. Furthermore, loans on Used Cars can be availed on vehicles upto the age of 10 years.