S&P Global Ratings on Wednesday said Indian banks face a systemic risk as the second COVID wave will impair the performance of financial institutions in the April-September period. Stating that economic recovery remains highly vulnerable to setbacks due to COVID, particularly if fresh outbreaks trigger new lockdowns, S&P said the banking sector's weak loans will likely remain elevated at 11-12 per cent of gross loans in the next 12 to 18 months. "The second wave has front-ended weakness in asset quality," said S&P Global Ratings Credit Analyst Deepali Seth Chhabria. "Financial institutions face a strained first half amid weak collections and poor disbursements."
Egypt has approved a visa on arrival scheme for Indians wishing to travel across the country.
Sri Lanka is facing its worst economic crisis since gaining independence from the UK in 1948.
Subash Paul, who had fallen sick and was being taken down to safety, lost his life on Sunday night while being rescued to lower camps from near the summit point.
As many as 200 Hindu pilgrims, most of them from India, were overwhelmed with emotions as they prayed at the 100-year-old renovated Maharaja Paramhans Ji temple in Pakistan on Sunday amidst tight security, a year after the temple was demolished by a mob belonging to a radical Islamist party.
On an annual basis, we'll seek out solutions to Indian Railways' most critical problems through 'innovation challenge': Suresh Prabhu
Cleartrip acquired Saudi travel firm Flyin last July and it provides bilingual ground support service and itineraries for inbound tourists.
'This is necessary for protecting the Hindu religion'
Earlier, the limit for the amount of cash that Indians could in foreign exchange for overseas travel was $2,000.
The study draws attention to the contribution of the Indian industry
He said in the last 8-10 days, the active cases in the state stood in the range of 5,000-6,000.
Operators of these beach-side palm-thatched eateries are baffled by the fresh guidelines issued by state tourism department warning them against racial discrimination.
The two leaders would also discuss the proposed visit of Dr Singh to Pakistan, the sources said.
Cricket fans in England could get the chance to see the likes of Virat Kohli and Rohit Sharma clearing boundaries on a regular basis, with London mayor Sadiq Khan set to spearhead a campaign to bring the Indian Premier League to the English capital.
Ahmedabad is home to the strangest of cuisines and is a city of contrasts, if you look beyond the tourist places.
China with 163% projected growth is expected to lead globally.
What better occasion than International Women's Day to take a look?
'The impact of economic shocks on the labour markets is usually on the young who delay their entry in response to a fall in job opportunities,' says Mahesh Vyas.
Jim Rogers, chairman of Rogers Holdings, tells Puneet Wadhwa that the US bond market that hit bottom in 1981 and has been in a bull-run since then, is coming to an end.
While the meetings on Friday were preliminary discussions, it is learnt that sectors like tourism; hospitality; aviation; micro, small and medium enterprises (MSMEs); and livestock have sought deferring loan repayments and temporary tax holidays in specific cases to help them tide over the steep fall in economic activity.
Of the 23 million visas processed by VFS in 2017 calendar year, one fifth were in India, making it the company's biggest market.
Is it time to take a relook at our economic theories? asks Ajit Balakrishnan.
Indians received the lion's share of H1-B visas over the 12-month period ending September 2004, and the H1-B post at the US Consulate General Office in Chennai was one of the busiest such offices in the world, a US consulate official said.
Basil had negotiated the Indian economic relief package to help Sri Lanka tackle the current foreign exchange crisis.
A certain type of TGV, called V150, holds the world record for the highest speed on any national rail system. This record has been in place since April 2007.
Given the fiercely competitive political environment, observers naturally associated an element of appeasement with the Shinde government's move, Shyam G Menon points out.
Eighteen months after the economy was battered by the Covid-induced lockdown, employment has not recovered to its pre-pandemic levels, points out Mahesh Vyas.
In a sea-change at the highest town of Europe, black business suits and orange-and-blue army dress have now become a common sight in Davos, as the world of business takes over this Alpine resort for the next five days beginning today, from the usual skiing enthusiasts.
Besides urging the Centre for extension of loan moratorium, the hotel and travel industries have also demanded deferment of GST and advance tax payments and waiver of fees for all forthcoming licences and permits.
Indian Railway Catering and Tourism Corporation (IRCTC) and Bharat Heavy Electricals (BHEL) are in talks for a partnership to run private trains. According to officials in the know, the two public sector undertakings (PSUs) are planning to form a special purpose vehicle (SPV) to run passenger trains on routes for which IRCTC has put in bids. "BHEL will be putting in the money required for private rail service, while IRCTC is going to focus on operational requirements," an official said. "IRCTC's business model has not been capital expenditure-focussed. It has built only operational enhancements," he added. Bids for public private partnerships (PPPs) in passenger train operations were opened last month.
'Since the bilateral deficit is a reality -- and a worry -- we need to find a way to deal with it,' says Ravi Bhoothalingam.
Airports hold pride of place in the government's National Monetisation Pipeline (NMP) programme to monetise public assets. Private airport operators, including the Adani group, Fairfax, GMR and Zurich Airport, are expected to evince interest in the next round of public private partnership (PPP) development of state-owned Airport Authority of India (AAI) airports. Industry analysts, however, do not expect bids to be as high as the last round, which saw Adani group gain control of six airports.
The Airports Authority of India, which manages the Goa airport, said in an advisory that the passengers who do not have a COVID-19 negative certificate will have to undergo 14 days' home or paid quarantine on arrival in the state.
Dramatic visuals showed fidgety people inside the cable cars that hung in air against the backdrop of a rocky hill cliff that overlooked a densely-forested valley.
Baghel went on to allege that the RSS brought "aggressive Hindutva" here, saying that it believes in "destroying everyone whose thinking does not match theirs".
Umar Ganie captures glimpses of Vidya Balan and Arbaaz Khan's visit to Kashmir for Rediff.com.
Nearly 125 people from Maharashtra and Telangana are stranded in Nepal after a high-magnitude earthquake struck the Himalayan nation.
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