On November 12, 2021, the Reserve Bank of India (RBI) decided to ring in uniformity in asset classification and income recognition across all lending institutions. Shadow banks, or non-banking financial companies (NBFCs), like commercial banks, are to test non-performing assets (NPAs) on a daily basis and upgrade them to "standard assets" only when interest and principal arrears are settled by borrowers. This is going to create all manner of headaches for shadow banks and their clientele. Says Y S Chakravarti, managing director and chief executive officer (CEO), Shriram City Union Finance: "NPA levels will go up, especially of small borrowers.
'Since there is no photo-op, or quick fix solutions, politicians do not want to address climate change. It is very unfashionable.'
We asked colleagues, present and past, to reflect on a man who has made such a difference to their lives and careers. Here it is then, a rich collection of memories that offer enchanting glimpses of the enigmatic Ajit Balakrishnan.
One of the high points of the proceedings was when Indrani Mukerjea's lawyer smartly utilised Dr Zeba Khan's expert status to pose her A Most Curious Question. He asked her if a skull can grow new teeth, even after the person, who it belonged to, had died, three years before. We can be sure that the discrepancy between the number of teeth discovered in the skull unearthed in 2012 and the skull shown in court in September 2019 will come up soon in Courtroom No 51. Vaihayasi Pande Daniel reports from the Sheena Bora Murder Trial.
24 hours before campaigning ends in Thiruvanathapuram, Archana Masih/Rediff.com discovers Shashi Tharoor and his BJP rival Rajeev Chandrasekhar are busy getting their message across to voters.
'Israelis arrested us before this war and continue to do so -- even more so -- now.'
For the time being, digital lending remains a grey area, notes Tamal Bandyopadhyay.
Israelis and Palestinians bury their dead.
Amid simmering tension in Mandya over the removal of Hanuman flag from a 108 feet tall flagpost, the Keragodu village Panchayat Development Officer has been suspended.
As a multi-disciplinary organisation, SFIO probes cases of financial frauds that are referred to it by Corporate Affairs Ministry
'They are acquiring agricultural land almost free of cost promising an illusory rise which is worse than a chit fund scheme.' 'When I went there on a fact-finding mission, we found that one third of the land they plan to acquire is the best agricultural land in the country.'
'What's sad today is that there are so many people who cannot find work, not because the country is devoid of that opportunity, but because we are not doing enough in the country.'
Anticipating a sudden and huge crowd in bank branches following the announcement of various measures by the government on Friday, the AIBEA said since the number of employees in bank branches are very few, the crowds can pose a big risk for the bank staff as well as for the customers who might be visiting in large numbers.
'Avoid rushing into any financial transactions or disclosing personal information.'
Cruelty by the husband (or his relatives) accounted for about 40 per cent of these cases. Delhi reported the highest number of cases of crimes against women (12,552) followed by Mumbai with over 5,000 cases.
Paris has been working on cleaning up the Seine so that people can swim in it again, as was the case during the 1900 Paris Olympics. But a sewer problem last summer led to the cancellation of a pre-Olympics swimming event.
At the end of October, Sri Lanka President Maithripala Sirisena handed over the deeds for the transfer of 116 hectares in Colombo Port City to China Harbour Engineering Company on a 99-year lease to build a financial centre.
United Nations chief Antonio Guterres has called on Hamas to immediately release all hostages without conditions and urged Israel to allow rapid and unimpeded access to humanitarian aid for civilians in the Gaza Strip.
The rains could lead to a rise in the water levels of the Yamuna, which has been flowing above the danger mark of 205.33 metres for days now.
Upon his arrival in Beirut on Thursday, the Iranian minister said, "Some European officials asked me if there were any chances that new fronts might open up against the Zionist regime?"
'How can you shoot somebody raising a white flag, even if he's a fighter, when he's surrendered?'
The opening ceremony was held in China's financial capital.
The point made by sociologist M N Srinivas, that it represented a Sanskritic act that was linked to caste, is never raised in Indian debates and the disapproval of drink is almost universal, notes Aakar Patel.
While Wadiyar, scion of the erstwhile Mysuru royal family, is making his political debut from the Mysore Lok Sabha segment, Lakshmana is state Congress spokesperson and Chief Minister Siddaramaiah's confidant.
The Yamuna surged to a record 208.48 metres at 8 am, the Central Water Commission said on Thursday, adding that it is likely to rise to 208.75 metres by 4 pm.
The recently launched retail central bank digital currency (CBDC) pilot has 50,000 users and 5,000 merchants, the RBI said on Wednesday. "We want the process to happen, but we want the process to happen gradually and slowly. "We are in no hurry to make something happen so quickly," Deputy Governor T Rabi Sankar said at the post-policy press conference in Mumbai.
Pablo Carreno Busta rallied from a set down to defeat Hubert Hurkacz 3-6, 6-3, 6-3 in Montreal to claim the biggest title of his career at the Canadian Masters on Sunday.
While some of the banks mentioned in the report said they have not come across any such fake apps, others have started an inquiry and also informed the CERT-In -- the national nodal agency for responding to computer security incident.
New York scores top marks for its economy as well as research and development, while London is judged to be the world's cultural capital. Paris is number one for livability and accessibility. Geneva, Zurich and Vienna are praised for their ecology and natural environment.
There has been a welcome focus on fundamental reforms, time-bound programmes that fix accountability and the use of technology. The upcoming Budget could build on these initiatives, says Abhas Jha.
The World Bank's executive board unanimously selected 63-year-old Malpass, who is currently Under Secretary of Treasury for International Affairs, as the bank's 13th President for a five-year term beginning April 9.
Finance Minister Nirmala Sitharaman on Wednesday announced a 66 per cent hike in the Pradhan Mantri Aawas Yojana (PMAY) outlay to Rs 79,000 crore.
United States President Joe Biden and his top advisors have warned Israel that it will become increasingly difficult for it to pursue its military goals in Gaza as global outcry intensifies about the scale of humanitarian suffering in the crisis-stricken region, CNN reported.
Telecom Regulatory Authority of India Chairman Rahul Khullar said insurance companies have asked for 4-6 weeks to deal with unsolicited commercial call or SMS.
N Chandrababu Naidu, when he was chief minister of the state, had sought funding for the project in 2015, but the Bank had deferred its decision in the light of the alleged government excesses.
In a statement later, the White House said Biden and Netanyahu discussed Israel's military campaign in Gaza, including its "objectives and phasing".
Indian banks are the 2nd-fastest-growing ones.
Hongkong and Shanghai Banking Corporation (HSBC) is exploring opportunities beyond metro cities to expand its commercial banking business in India.
Another 8 pm prime ministerial speech. Will this one too lead to a scramble and chaos like his previous 8 pm telecasts?
Six decades and more later, we are now captives of our identities. Every poll is based on elaborate calculations of electability of candidates on the basis of their castes and other narrow definers. That, along with voter promiscuity, is what defines our political culture, which remains stubbornly resistant to any change, asserts Shreekant Sambrani.
