Report says stressed asset level to peak at 15% in 2014-15.
'The central BJP leaders were determined to push Hindutva hard, and it failed.'
The NSE Nifty settled the day 38.85 points or 0.37 per cent lower at 10,500.90 after shuttling between 10,590.55 and 10,456.65, intra-day.
Bigger state-run banks such as Bank of Baroda, Punjab National Bank and Union Bank have also seen their bad loans rising in the December quarter.
The bank board had decided to launch an enquiry to be headed by an "independent and credible person", to examine and enquire into an anonymous whistle blower complaint alleging that the bank MD & CEO had not adhered to code of conduct
With the Big Four information technology services players having disappointed the Street, the focus is on mid-cap IT players who seem to have met expectations, according to analyst reports and management commentary on the demand environment.
The rally followed the govt's plan to bolster state-owned lenders.
'Why do I have this feeling... why India could not pick their XI in last two years. It's a very strange thing to me that your squad is not settled. Who is your No. 4, where will Virat (Kohli) play 3, 4 or 5?'
Both the Sensex and Nifty, however, registered gains for the week.
Banks argued that loans of most lenders are funded primarily by retail deposits and not from the wholesale market as was the practice abroad
Slowing growth and execution challenges for Cognizant (CTSH) may well allow Infosys to overtake the former after a decade. Cognizant had marched ahead of Infosys in terms of revenue in the first quarter of financial year 2012-13. The Nasdaq-listed IT services firm's performance in Q3 and the guidance for Q4 and full-year 2022 suggest that it could take time for Cognizant to see the expected improvement in performance from its decision to restructure.
The S&P BSE Realty Index has emerged as one of the top-performing sectors, yielding a remarkable 45 per cent return over the past six months. The three leading players, listed by market capitalisation, have substantially enriched investor wealth by 43-70 per cent during this period. If the second quarter (Q2) of 2023-24 (FY24) updates from Macrotech Developers (Lodha) and Sobha, along with industry data for the quarter, serve as any indication, the trend of strong bookings for larger players is expected to continue.
Those involved in the discussions say the guidelines for selection of bidders in insolvency cases need to be transparent, otherwise anyone who loses out could take legal recourse, leading to wastage of time and derailing the whole process.
Disgruntled executives are already pinning hopes on the new banks, too.
Moody's Investors Service on Wednesday affirmed the ratings of two major Indian IT services companies, Tata Consultancy Services Limited (TCS) and Infosys. In two separate statements, Moody's also retained stable outlook for both the companies. Moody's expects Infosys' revenues to climb by around 13 per cent for the financial year ending March 31, 2023, but moderate to around 8 per cent in the next 2024 fiscal.
A section of analysts feel now may not be a bad time to buy select PSBs.
The Mumbai-based recovery chief does not want to be identified but says his greater concern is not that non-performing loans would rise from the already elevated levels. Coordinated opposition to recovery efforts could lead to banks withdrawing altogether from lending to this sub-prime segment in India that otherwise depends on informal money lenders.
The Indian rupee is expected to trade between 80 and 84 against dollar in the first three months of 2023 with support from overseas inflows though worsening current account deficit (CAD) and reduced interest rate differential between the US and India pose challenges. According to a Business Standard Poll of 10 participants, most said the rupee could gain strength in January due to foreign inflows, and the Reserve Bank of India (RBI) is not expected to allow the currency to depreciate ahead of the Union Budget scheduled on February 1. The rupee depreciated 10.15 per cent in 2022, its worst performance since 2013 as the war in Europe and the interest rate increase by the US Federal Reserve prompted investors to flee emerging markets.
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The right sequence would be to gradually reduce SLR
The continuing stress faced by corporate India has weakened their debt-servicing capability and this is reflected in the banks' books, as yet-burgeoning bad loans.
Experts draw up a 6-point checklist
India's equity markets are on a roller-coaster ride, after delivering spectacular returns for two consecutive years - in 2020 and 2021. The benchmark National Stock Exchange's (NSE's) Nifty50 is down 1.5 per cent in the first nine months of the current calendar year 2022 (CY22) as foreign portfolio investors sold Indian stocks due to rising bond yields in the US and across global markets, including India. The sell-off in the Indian equity markets has, however, not been broad-based and largely limited to sectors facing earnings headwinds from rising interest rates, lower commodity and energy prices, and likely economic recession in advanced economies.
ICICI Bank, HDFC Bank and Axis Bank reported healthy loan growth and asset quality.
Many stalled projects are about to get going again, providing potential relief to banks, says T N Ninan.
Pictures on social media also appeared to show Nazi salutes being performed by supporters of Sydney United 58, who were founded as Sydney Croatia in 1958 and were a powerhouse in the National Soccer League that preceded the formation of the A-League in 2004.
Over the short to medium term, valuations are more likely to move down than up.
Being driven to abandon Indian middle-class values, asks Ajit Balakrishnan.
Jaitley said the government had earmarked Rs 25,000 crore (Rs 250 billion) for recapitalisation.
The United Kingdom government on Tuesday said that though the air traffic control 'technical issue' that led to the severe disruption of hundreds of flights and left thousands of passengers stranded has been resolved, routes will continue to be affected for some days as airlines scramble to recover from the domino effect on their schedules.
Silver, which is currently trading at Rs 68,453 per kilogram, has appreciated 21.7 per cent over the past three months. Investors, however, shouldn't get carried away by its recent performance and put their money in it. Instead, they should evaluate its pros and cons and then take a considered decision based on their risk appetite.
'The RBI is not releasing Rs 2,000 notes for the last 10 days; probably they have stopped printing it.'
Reserve Bank of India Governor Shaktikanta Das tells Anup Roy, Raghu Mohan and Niraj Bhatt that it is time for banks to lower interest rates and start lending to cash-starved finance companies after due credit appraisal and proper risk assessment.
State Bank of India, the country's biggest lender, on Monday cautioned against rising debt in housing loans and said this could lead to an asset bubble in the real estate sector.
'She was either overconfident that nothing will happen to her or she underestimated the gravity of the allegations.'
Banks given 180-day time for NPA resolution, matter to be referred to Insolvency Board within 15 days.
Government to infuse funds in cash-strapped banks.
For India's leading MFI-turned bank, the challenge is to stay competitive while pricing its loans
Sensex, Nifty have lost about 6%, against 0.5-5% decline in other key Asian indices.
Norms governing investments by provident funds bar these from depositing funds in a commercial bank in case the NPAs of that bank exceed two per cent of net advances.
Non-Performing Assets are a wake-up call for public sector banks.
