Polarisation in the performance of Indian banks will persist as many large public sector banks are still saddled with weak assets, high credit costs, and poor earnings, S&P Global Ratings said on Thursday. It said State Bank of India and leading private sector banks have largely addressed their asset quality challenges, and their profitability is improving more sharply than the banking system. In its Global Banking Outlook-2023 report, S&P said economic recovery is driving credit costs to cyclical low levels and stronger balance sheets and higher demand should boost bank loan growth, but deposit growth will lag.
There has been a nearly 150 per cent rise in patients coming to outpatient departments with such complaints, they said.
No large nation has done less to feed its millions of poor than India has in the past decade or two since the beneficial effects of the Green Revolution wore off.
On the back of sound macroeconomic policies and softer commodity prices, India's growth momentum is likely to be sustained in 2023-24 in an atmosphere of easing inflationary pressures, said the Reserve Bank's annual report released on Tuesday. It, however, added that slowing global growth, protracted geopolitical tensions and a possible upsurge in financial market volatility following new stress events in the global financial system could pose downside risks to growth. "On the back of sound macroeconomic policies, softer commodity prices, a robust financial sector, a healthy corporate sector, continued fiscal policy thrust on quality of government expenditure, and new growth opportunities stemming from global realignment of supply chains, India's growth momentum is likely to be sustained in 2023-24 in an atmosphere of easing inflationary pressures," it said.
'They will continue to keep pricking at places where both of us are sensitive and keep the LAC alive.'
The Varanasi district court arrived at the decision of allowing 'puja' in a Gyanvapi mosque cellar in "haste", the All India Muslim Personal Law Board (AIMPLB) said on Friday, asserting it would pursue the matter right up to the Supreme Court.
Analysts are divided on their retail price inflation forecast, with some saying the first quarter numbers will overshoot the RBI target by as much as 60 bps while others are softer in their estimate. Consumer price inflation retreated from its 15-month peak of 7.4 per cent in July to 6.8 per cent in August, much lower than the market expectations, despite vegetable prices remaining elevated at 26.1 per cent. Food inflation eased to 9.9 per cent from 11.5 per cent, led by some cooling of inflation in vegetables, cereals, pulses and milk.
With over 80 million Unified Payments Interface (UPI) users, Amazon Pay, the payments business of e-commerce giant Amazon, has been growing at 40-50 per cent year-on-year (Y-o-Y), said Mahendra Nerurkar, chief executive officer (CEO) and vice-president (V-P), Amazon Pay India. "Leveraging just the micro peer-to-peer (P2P) transactions on UPI is not a business model. "While we have enabled those features, we do not chase monthly active users based on this.
With Delhi recording air pollution levels seven to eight times above safe standards on Monday, the city government announced the return of its flagship odd-even scheme after four years anticipating further deterioration of air quality post-Diwali.
The poisonous haze has been causing significant problems for people with existing respiratory issues, according to doctors.
Has Vijay Shekhar Sharma given up on the bank? For now, he seems to be on a save-OCL mission. The bank will face its logical end, observes Tamal Bandopadhyay.
'The focus needs to shift towards the ability to collect payments, particularly in tier-3 to tier-4 areas where acceptance is still lacking.'
The Indian cyber security agency has issued a warning against 'Royal ransomware' virus that attacks critical sectors like communications, healthcare, education and even individuals and seeks pay-off in Bitcoins for not leaking personal data in the public domain.
To increase local talent mix in the US like their major peer Infosys
Insulting a woman or being rude to her and not behaving in a chivalrous manner will not amount to outraging the modesty of a woman, the Delhi High Court has held while setting aside an order putting a man on trial for calling a woman gandi aurat.
While there is no specific treatment for dengue, recovery primarily involves managing symptoms and preventing complications, says Dr Amit Sakaria.
The German authorities had taken custody of Ariha Shah on September 23, 2021, when she was seven months old, alleging that the parents harassed her.
One hopes in his next term, Narendra Modi will take up the mission of inculcating respect for following rules in Indians as a mission. Therein lies the chance for India to become a developed country, asserts Colonel Anil A Athale (retd).
Reddy directed the officials to treat the storm as a major challenge to avoid loss of life and property as the winds are expected to blow gales reaching speeds of up to 110 kilometres per hour.
24x7 power supply to farmers emerges as a political lightning rod in the state.
Speaking at an event in Nagpur, he also said the 'Akhand Bharat' or undivided India will become a reality before today's youngsters become old, as those who separated from India in 1947 are now feeling that they made a mistake.
598 problems. 7,531 possible solutions. 10,000 students. Vivek Kulkarni takes us through the making of the 36-hour event.
The Chief of Air Staff, addressing a press conference ahead of the Air Force Day on October 8, asserted that the IAF will continue to remain deployed along the frontier in the region till complete disengagement takes place in the remaining contested areas.
Girish AD doesn't make romantic comedies so much as he elevates the genre, observes Sreehari Nair.
Putin said work would be completed on building storage units for tactical nuclear weapons in Belarus on July 1, a move he likened to US nuclear deployments in Europe.
'Revision of the base year for both CPI and GDP are long overdue.' 'The basic data that went into the 2011-2012 series were mainly from surveys done in 2011 or earlier.' 'We have since seen the emergence of new sectors like platform-based work and online marketing.' 'The employment surveys and the consumption surveys need to reflect these adequately.'
'The next war will be fought by China-Pakistan against India and we have to fully be prepared. We must read the writing on the wall.'
An early choice will also allow Mr Rajan to do some hand-holding.
Several Opposition leaders, including former Congress chief Rahul Gandhi, on Wednesday attacked the government over a media report claiming that a key Adani group investor is also co-owner with the conglomerate in a defence firm.
The Delhi high court on Friday refused to entertain a PIL seeking direction to the Centre and the Election Commission to make voting compulsory in parliamentary and assembly polls, saying it cannot force a person to vote.
Surplus liquidity in the banking system as measured by absorption of excess funds by the Reserve Bank of India (RBI) fell sharply at the end of the last week due to outflows on account of advance tax payments. According to the RBI data, the net liquidity absorbed by the central bank on September 16 was at Rs 3,243.57 crore, much lower than the average of Rs 56,809.92 crore in the preceding four days of the week. The average absorption of funds by the RBI so far in September is at Rs 1.13 trillion, against the average of Rs 1.2 trillion in the previous month, the data showed.
The rally in mid- and small-cap stocks has spilled over into the IT sector as well. Second and third-tier IT stocks, which historically traded at a discount to the big five IT companies, are now trading at nearly 25 per cent premium to their large-cap peers. The smaller IT companies have a price-to-earnings (P/E) multiple of nearly 38 times against the big five's current P/E multiple of around 31x.
Despite Covid downturn, CEO salaries went up by an average of 19% in FY21.
The last thing the country needs in a globalising and technologically advancing international business environment is a poorly educated workforce.
Bringing down government stakes would augment their capital.
What we want from spectrum allocation is access to broadband networks at prices that will result in productivity gains.
In 2021, the Railways boasted of a historic feat -- no passenger deaths in train accidents in two years. However, the derailment of the Bikaner-Guwahati Express in 2022 brought the Railways back to its forgetful past.
To warn users about the threat, the company recently published a blog post where they listed these banned domain links which used to inject spying tools into users' PCs/laptops by appearing as fake login pages for websites or apps.
The metro rake which had only officials and engineers on board ran under the Hooghly from Kolkata to Howrah on the other side of the river.
The SSLV is designed to be affordable and amenable to industry production and aimed to function as a launch-on-demand platform for mini, micro or nano satellites.
