HDFC Bank managing director Aditya Puri on Wednesday said the lender's business is returning to pre-COVID-19 levels and full normalcy is expected to be restored soon.
Vigourous gymming by an 18 year old post-lockdown led to a medical condition that caused malfunctioning of his kidneys.
Coal, crude oil, natural gas, cement, and electricity recorded a negative growth of 8.6 per cent, 5.4 per cent , 3.9 per cent, 4.9 per cent and 2.9 per cent, respectively, in August.
Sequentially, the loss widened from Rs 2,416.37 crore in the third quarter ended December 2017.
The agency also carried out searches at 15 locations spread across Delhi; West Bengal's Kolkata, Siliguri and Murshidabad; Uttar Pradesh's Ghaziabad, Punjab's Amritsar and Chhattisgarh's Raipur, they said.
Bandhan Bank is expecting that a little less than 50 per cent of its portfolio will be dominated by affordable housing loans in the next three to five years.
As per the assessment done by the RBI, the gross NPA of the SBI was 11,932 crore more at Rs 1,84,682 as against Rs 1,72,750 reported by the bank. As a result the bank has to make additional provisioning of Rs 12,036 crore in the balance sheet.
'In the total of black wealth, only 1% or less than 1% constitute cash.' 'So, even if cash is completely weaned out, it impacts only 1% of the black wealth.'
India saw 4.2 million foreign tourists till May mainly thanks to visitors from Bangladesh
Service tax waived for online train ticket booking till Dec 31
'These officers should have sat together and sorted things out.' 'And if things were not working out amicably then the other organisations which control the CBI -- be it the CVC or the prime minister's office or even the home ministry -- someone should have gone ahead and solved these problems rather than reducing it to this farcical situation.'
With this lending rate reduction, the bank has lowered 40 bps so far this fiscal year in five successive rate cuts beginning April.
The key demand drivers -- such as low home loan rates and income tax sops, particularly for affordable housing -- that supported the recovery in H2 FY2021, remain in place and will spur recovery again, feel experts.
'They are starting to move more quickly and we would just like to continue to see bold action being taken.'
Coal, crude oil, natural gas, refinery products, fertiliser, steel, cement and comprise 40.27 per cent of the weight of items included in the Index of Industrial Production.
Online booking of tickets will be encouraged but box office will be open for single-screen theatres.
Pakistan will buy sugar and cotton from India, newly appointed Finance Minister Hammad Azhar announced on Wednesday, lifting a ban on their import from the neighbouring country imposed in the wake of heightened tension over Kashmir in 2019. The decision was taken at the meeting of the economic coordination committee (ECC), which was chaired by Finance Minister Azhar.
In his every first international innings he was run out for 0. He will end his career as one of the most feared batsmen in international cricket.
'For around five hours the storm, reportedly the strongest one ever recorded in the Bay of Bengal, that mother of many a deathly vortex, shook Kolkata like a toddler playing with a rattling toy,' observes Debashish Chatterjee.
As many as seven of eight core industries saw a contraction in output in September.
High inflation print is the price that the Reserve Bank of India (RBI) will have to pay to nurse a fragile growth back, say economists. Wholesale Price Index-based inflation rose to a record high of 12.94 per cent in May, aided by low base effect, but also because of higher fuel and commodity prices. Retail inflation, too, surprised by rising to 6.30 per cent, while the core inflation, which is the non-food and non-fuel component, rose to an 83-month high of 6.55 per cent. These numbers are much above RBI's upper limit of 6 per cent inflation target, but there is very little that the RBI can do at this moment.
Thirteen years after their small car project was forced out of West Bengal following the anti-land acquisition movement in Singur, Industry and IT Minister Partha Chatterjee has said talks are on with the Tatas for big-ticket investments in the state. Underscoring job creation as the TMC government's top priority, Chatterjee also said incentives to companies will depend on ability to generate employment. He said the Mamata Banerjee dispensation wants two large manufacturing units to be set up by any prominent industrial house at the earliest. "We never had any enmity with the Tatas, neither we fought against them. "They are one of the most respected and biggest business houses of this country and also abroad. "You can't blame the Tatas (for the Singur fiasco).
Wicket-keeper batsman Wriddhiman Saha's battling half-century helped India reach 316 before the hosts were dismissed in their first innings against New Zealand on the second morning of the second test at Eden Gardens on Saturday.
The department for promotion of industry and internal trade has asked the telecom department and State-owned BSNL to put on hold the tender for setting up 4G network, valued at Rs 9,000 crore, after allegations emerged that the tender favoured foreign companies. The tender was floated by BSNL in March under the new management for setting up the 4G network.
"I am very happy and proud of his achievements. I am yet to speak to him. I think he must be sleeping as it's still night in the United States," she said.
Any shift in investor sentiment may result in speculators fleeing the gold market, driving its price down sharply, quickly. One significant risk for gold is a near-term reversal in the dollar, which recently fell to a two-year low.
SBI is expected to mop up almost $202 million via the share sale.
Slow growth in the key sectors would have implications on the IIP number as these segments account for about 41 per cent of the total factory output.
What happened in India in the week gone by? Here's the top stories that captured India's attention in the week gone by.
BSNL is providing telecom services in remote parts of the country and maintaining 17,000 to 18,000 exchanges, incurring Rs 3,000 to Rs 4,000 crore losses every year. Otherwise, these villages will be cut off.
The Cabinet on Wednesday approved the National Mission on Edible Oils - Oil Palm (NMEO-OP) with a financial outlay of Rs 11,040 crore to promote domestic cultivation of oil palm in the next five years, and reduce the country's dependence on edible oil imports. The decision comes after Prime Minister Narendra Modi announced the new central scheme on August 15 during his Independence Day speech at Red Fort. Briefing the media, Union Information and Broadcasting Minister Anurag Thakur said the Cabinet approved the NMEO-OP with a focus on the northeast region and the Andaman and Nicobar Islands with a financial outlay of Rs 11,040 crore.
From the protests in Belarus, to people in Beirut picking up the pieces after the deadly blast, to the Democratic National Convention held in Delaware in the United States, here are the top images from the week gone by.
Over 73.44 lakh voters exercised their franchise in 10,592 polling stations spread over 13 districts in the Barak Valley, the hill regions and parts of central and lower Assam.
They also warned that banks will start reporting higher non-performing assets after September, once the six-month moratorium on loan repayment ends.
Telecom Minister Ravi Shankar Prasad had told Parliament in November that Bharti Airtel, Vodafone Idea and other telecom companies owe the government as much as Rs 1.47 lakh crore in past statutory dues.
Zomato has the potential to be an equally important milestone for Indian equity markets, notes Akash Prakash.
Man of the match Virat Kohli has said that it is the challenge of playing on tough pitches like the one at Eden Gardens brings the best out of him.
'He's at best a holding-CEO. Not one who will re-imagine the bank,' a senior banker and former colleague tells Raghu Mohan about HDFC Bank CEO & MD Sashidhar Jagdishan.
The Rs 20,000 crore is in addition to Rs 10,000 crore support announced earlier by the housing sector regulator NHB.
The country's largest lender State Bank of India on Wednesday said it has reduced its marginal cost of fund-based lending rate (MCLR) by up to 15 basis points across various tenures, effective March 10. The bank has reduced its one-year MCLR by 10 basis points to 7.75 per cent from the earlier 7.85 per cent, SBI said.
