Vaccine development is a long process to ensure safety and efficacy through different stages and involves regulatory supervision every step of the way. Ruchika Chitravanshi takes you through this carefully drawn journey of vaccine development.
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.
Wipro on Friday revised upwards its IT services revenue outlook to 8-10 per cent sequential growth in the June 2021 quarter, following the completion of its $1.45 billion buyout of Capco. While announcing its March quarter results earlier this month, Wipro had said it expects to log a sequential growth of 2-4 per cent in its IT services revenues in the June 2021 quarter without including revenue from Capco and Ampion acquisitions. In March, Wipro had announced the acquisition of London-headquartered Capco in a $1.45 billion (over Rs 10,500 crore) deal - its largest ever till date.
Infosys will pay California $800,000 to resolve allegations that, between 2006 and 2017, approximately 500 Infosys employees were working in the state on Infosys-sponsored B-1 visas rather than H-1B visas, California Attorney General Xavier Becerra said. In 2017, Infosys had agreed to pay the State of New York $1 million to settle allegations of submitting wrong documents to federal authorities.
Many banks' profits will take a hit and a few of them could even end up being in the red because of treasury losses, triggered by a sudden spike in government bond yields in the rising interest rate cycle, notes Tamal Bandyopadhyay.
If raters get away by moving from AAA to D overnight after companies default, as happened with DHFL, YES Bank, RCom, and IL&FS, it shows a complete breakdown in the rating system. It calls for exemplary punishment, not kid glove treatment, says Debashis Basu.
'If anybody defaults on something which is due for today, they have to disclose it tomorrow.' 'The accumulation of NPAs is due to asymmetry in information.' 'The investor should have real-time information.'
No legal proceedings have been initiated against Nestl till now.
These changes will entail a relook at the various laws governing banks in the country - the two Bank Nationalisation Acts (passed in 1970 and 1980); the State Bank of India (SBI) Act of 1955; and the Companies Act of 2013.
Insurance agents of all life insurance companies selling unit linked insurance plans will now show rate of returns ranging between 6 and 10 per cent to customers.
After a stellar run in 2021 that saw the S&P BSE Sensex and the Nifty50 clock gains of 20 per cent and 22 per cent respectively, global equity markets, including India, are gearing up to welcome 2022 on a cautious note. For one, new variants of the Covid -19 infection that make current vaccines less effective is one of the key risks worth flagging, analysts said. Inflation was also a risk for this asset class in 2021, although most market participants expect that the current elevated inflation levels will be transitory.
Kumar said the Commission will follow the time-tested methods of consultations and consensus building in bringing about any reforms and will not shy away from tough decisions, according to an Election Commission (EC) statement.
In efforts to bolster corporate governance among listed companies, Sebi on Tuesday approved various amendments to rules governing the appointment, re-appointment and removal of independent directors, including the requirement to disclose resignation letters of such individuals. There will be a one-year cooling period for an independent director transitioning to a whole-time director in the same company/ holding/ subsidiary/ associate company or any company belonging to the promoter group. As part of the review of regulatory provisions related to independent directors, the Sebi board has cleared amendments to Sebi (Listing Obligations and Disclosure Requirements) Regulations, 2015.
While reasonable safeguards should be built in, there can't be restrictions on the individual's right to leave her/his money to whoever s/he wants, notes Harsh Roongta.
There is a large population standing outside the coverage of primary healthcare, says Praveen Gupta of Raheja QBE.
The main purpose of the meeting is to assess their views on reforms that are required to attract long-term capital into the country.
'When we look at the quality of our retail loan book, the non-performing asset percentage is low.'
Gross enrolments of new subscribers with ESIC were 1.49 crore during the entire financial year 2018-19, the National Statistical Office (NSO) said in a report.
Maruti Suzuki said there are many reasons for this downturn in the auto market such as liquidity crunch, increased prices of products due to regulatory issues, higher taxes and rise in insurance rates.
The online world is driven by convenience, simplicity and speed.
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Max Bupa, standalone private health insurer, is a joint venture between Max India (with 74 per cent stake) and UK-based global healthcare group Bupa (26 per cent).
Fund managers weren't too worried in 2014, as it was a year of positive surprises.
The insurer has launched a personal health wallet with an aim to motivate people to not only buy health insurance but also stay fit
A government panel on Tuesday proposed raising foreign investment limits in sectors like defence, multi-brand retail and telecommunications, to spur investment in the country and tide over the Current Account Deficit woes.
The Indian IT industry will stage a "strong recovery" in 2021-22 with a revenue growth of up to 11 per cent, ratings agency Crisil said on Wednesday. The recovery will be led by increasing outsourcing and accelerating digital transformation services mainly in sectors such as banking, financial services and insurance (BFSI), healthcare, retail and manufacturing, it said. As per Nasscom, the IT services industry grew 2.7 per cent to $99 billion in 2020-21.
Irda's new guidelines for pension plans guarantee returns, but the rate is too low to beat inflation
The CJI has also kept with himself matters concerning arbitration, habeas corpus, criminal cases, contempt of court and ordinary civil matters.
Ambani now holds 80.52 lakh shares or 0.12 per cent of RIL, up from 75 lakh shares held before the rights issue. His wife Nita and children Isha, Akash, and Anant too got 5.52 lakh shares each after they subscribed to the rights offering. They, too, hold 0.12 per cent each in the firm.
Gross enrolments of new subscribers with the ESIC were 1.49 crore during 2018-19.
