Gross bad loans of banks may rise from 6.9 per cent in September 2021 to 8.1-9.5 per cent by September 2022 if the Omicron variant strikes the economy hard, as per the financial stability report of the Reserve Bank released on Wednesday. The report also said that the rising stress level in the retail loan portfolio of banks -- the mainstay of bank credit for many years now -- was led by home loans, which grew in double-digits so far this fiscal. While asset quality improved, with gross non-performing assets (GNPA) and net NPA (NNPA) ratios declining to 6.9 and 2.3 per cent, respectively, in September 2021, the slippage ratio inched up during the same period as private sector banks showed a higher rate of deterioration in asset quality, as per the report.
The first consignment of 75,000 vials will reach India on Friday, it added.
'Pollution acts as an endocrine disruptor.' 'When it acts as an endocrine disruptor it has an effect on the endocrine system of the human body and the effect on the pancreas is an important one.' 'The way you get type two diabetes is due to two defects.' 'One is the pancreas doesn't produce enough insulin.' 'The other physiological defect is insulin resistance.'
The number of active COVID-19 cases stood at 1,10,960, while 1,09,461 people have recovered and one patient has migrated, it said.
'In the next one-and-a-half, two months you'll get decent amount of opportunities in the mid-cap and small-cap sector at lower levels.'
The rupee sank below 60 rupees to the dollar and government bonds had their biggest single-day fall in a month on Monday as higher-than-expected May inflation compounded worries about the impact of violence in Iraq on the price of oil, which India imports.
While the number of active COVID-19 cases stood at 6,039, as many as 515 people have been cured and discharged, and one had migrated, it said. The total number of cases include 71 foreign nationals.
India on Sunday recorded 93,249 new coronavirus infections, the highest single-day rise so far this year, which took the total COVID-19 cases to 1,24,85,509, according to Union health ministry data.
The death of 18 patients during the day, the highest single-day figure since the first week of December last year, took the fatality count to 11,704, it said.
This is the highest number of cases since December 13 when 1,984 people tested positive for the virus, according to official data.
The tests have to be conducted within 72 hours of undertaking the journey to India, Mandaviya said.
The fall in the employment rate translated into a 2.6 million fall in absolute employment between December 2022 and March 2023. Most of this fall was in March 2023.
For the first time in a decade, inflows into equity mutual funds (MFs) decoupled from the past performance of the equity market, as investors continued to pour money into the market unperturbed by lacklustre returns.
Screen time expert Emily Cherkin discusses the risks you must consider.
US nominee for World Bank president, Ajay Banga, has tested positive for COVID-19 following which the meetings scheduled during his two-day visit to India have been cancelled. According to a Finance Ministry statement, Banga's meeting with Nirmala Sitharaman would not happen as he is in quarantine. "During routine testing, Ajay Banga tested positive for COVID-19 but remains asymptomatic.
The US provided crucial intelligence to the Indian military last year that helped it successfully tackle the Chinese "incursions".
'Antiviral treatment will have no change. Spike protein change may affect the immunity protection.'
Sanjana Ganesan and Boom Boom flew to Chicago for a holiday after the fast bowler had finished his duties with the Indian team in England.
Even though the Health Ministry and Indian Council of Medical Research (ICMR) have been insisting that there is 'no solid evidence' of community transmission so far, the government has started scaling up health infrastructure to deal with any situation.
'We seem to be in a situation where we can do little, and nothing needs to be done anyway.'
As China's hospitals struggle to cope with the spike of infected people, the Communist party government seem confused over what measures can be taken to control the virus.
Drug sale volumes are almost stuck at pre-pandemic levels but price growth has improved value, data from market research agency Pharmarack AWACS showed. The Indian pharmaceutical market's (IPM) volumes in April 2023 grew by 0.21 per cent when compared to April 2019. Key therapy areas like cardiac, anti-diabetic and vitamins recorded negative volume or consumption growth, while respiratory, anti-infectives, and pain and analgesics had positive growth from April 2019 to April this year.
Indices across Indian equity markets have edged towards new record highs before undergoing a small correction in the past few sessions. The National Stock Exchange Nifty has gained 20 per cent in the past year; mid-caps (up 33 per cent), small-caps (up 31 per cent), and micro-caps (up 44 per cent) have done better. Several factors have precipitated this rally.
Bankers say debt resolution bills are coming high as resolution professionals are giving the human resources and audit/legal consulting to outside firms to plug all the loopholes.
'Markets are not expensive; they are fairly priced.'
Private sector banks reported a robust profile with healthy growth in net interest income (NII), credit offtake and reduction in provision burden for the fourth quarter ended March 2023 (Q4 of FY23). However, as a pack, their net profit declined by 9.7 per cent year-on-year (YoY) at Rs 25,317 crore in Q4. This is because Axis Bank posted losses due to its one-time hefty charge for the acquisition of Citibank India's consumer business.
Registering a steady increase for the 37th day in a row, the active cases have increased to 15,69,743, comprising 10.98 per cent of the total infections, while the national COVID-19 recovery rate dropped to 87.80 per cent.
The presence of spike protein facilitates a virus' entry into the host cell and is responsible for making it transmissible and causing infection.
Wholesale price-based inflation spiked to a record high of 15.08 per cent in April on rising prices across segments from food to commodities. The WPI-based inflation was 14.55 per cent in March and 10.74 per cent in April last year. "The high rate of inflation in April 2022 was primarily due to rise in prices of mineral oils, basic metals, crude petroleum & natural gas, food articles, non-food articles, food products and chemicals & chemical products etc. as compared to the corresponding month of the previous year," the commerce and industry ministry said in a statement.
Pushed by rising prices of essential kitchen items, the retail inflation rose to an eight-month high of 7.34 per cent in September, making the RBI's task to push growth by reducing the interest rate even more difficult in coming the days. The Consumer Price Index (CPI)-based inflation was 6.69 per cent in August and 3.99 per cent in September 2019. Inflation has been hovering above 4 per cent since October 2019.
Before the novel coronavirus brought its pandemic to New Delhi, Mohammad Aamir Khan was one of tens of thousands of people making a living in the Indian capital as a taxi driver. But that work dried up during the nearly three-month lockdown to prevent the spread of the virus. With cases rising in India even before the government lifted the lockdown, a friend suggested perhaps the only business now booming in the country -- driving a private ambulance.
Pune added over 10,000 COVID-19 cases for the first time in a day on Saturday, taking the district's tally to 5,62,335, an official said.
'Instead of ACs, the government should do something to increase our salary.'
It's expected that INSACOG will be once again releasing a bulletin from next week on updates about the types of variants present in India.
Would you take up a food challenge to make chicken momos with healthy ingredients?
SII has so far provided more than 170 crore doses of Covishield to the government for the national immunisation programme.
Tensions between India and Pakistan spiked after New Delhi abrogated Article 370 of the Constitution to revoke the special status of Jammu and Kashmir on August 5, 2019. India's decision evoked strong reactions from Pakistan, which downgraded diplomatic ties and expelled the Indian envoy.
According to the health department, both samples have been sent for whole genome sequencing.
Registering an increase for the 11th day in a row, the total active caseload has increased to 3,09,087, which now comprises 2.66 per cent of the total infections, while the recovery rate has further dropped to 95.96 per cent, the data stated.
Maharashtra is the worst affected state with 59,546 cases.
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