The Kerala model is crucial as SMA patients in India had a long wait for a viable treatment option.
The Reserve Bank of India (RBI), in its Financial Stability Report (FSR), cautioned that stress tests indicate two scheduled commercial banks (SCBs) may have to dip into their capital conservation buffers (CCBs), unless stakeholders infuse capital, under a scenario involving a gradual slowdown in domestic GDP growth and a moderate rise in inflation, with limited policy easing space available to the central bank.
Commercial and prohibited speeches are not covered under fundamental rights, the Supreme Court on Monday said as it asked five social media influencers, including India's Got Latent host Samay Raina, to display their unconditional apology in their podcasts or shows for ridiculing persons with disabilities and rare genetic disorders.
"We currently manage collections for over 98 million retail and small-business loan accounts, covering a loan book of about $250 billion," says Rishabh Goel, cofounder and chief executive officer (CEO) of Credgenics, a software-as-a-service platform for debt collection. With more than 700 million smartphone users and over 450 million UPI users, digital access is everywhere.
The Delhi High Court has said that a Sub-Divisional Magistrate prima facie committed contempt of court by sending a notice to the residence of a person desirous of marrying his partner under the Special Marriage Act (SMA), in violation of its order prohibiting any such dispatch.
Union Finance Minister Nirmala Sitharaman, along with her team of bureaucrats, delved into the fine print of the 2024-25 Budget documents in a press conference, detailing the government's road map on bringing down the debt-to-GDP ratio and bold tax measures.
'Despite the current uncertainties, the long-term outlook remains constructive due to strong fundamentals, government initiatives, and a stable banking sector.'
Non-heterosexual unions and heterosexual marriages ought to be considered as two sides of the same coin, both in terms of recognition and consequential benefits, Supreme Court judge Justice Sanjay Kishan Kaul said as he lamented that the only deficiency at present is the absence of a suitable regulatory framework for such unions.
With high credit growth and healthy asset quality, listed commercial banks are expected to report steady growth in earnings during the fourth quarter ended March 2024 (Q4 FY24). Profits are expected to grow at 9.6 per cent year-on-year (Y-o-Y) and net interest income (NII) by 8.7 per cent in Q4 FY24, according to Bloomberg analysts' estimates. According to Motilal Oswal Securities, while bank credit growth has been robust, deposit growth has also gathered pace.
'I found it unbelievable that L&T said 45,000 jobs were waiting to be filled because of unavailability of suitable skillsets.' 'So, when the Opposition sweepingly says there are no jobs, I'm sorry... I'm not saying it's raining jobs, but there are jobs. The (skill) gap has to be bridged.'
In the June quarter of FY24, 51 per cent of consumers who took small-ticket personal loans already had more than four credit products at the time of accessing yet another new loan, compared with just 17 per cent in the June quarter of FY20, points out Tamal Bandyopadhyay.
Analysts remain bullish on the road ahead for the equity markets, but warn against volatility on account of domestic and global cues. The upcoming Lok Sabha elections back home and the interest rate trajectory of the US Federal Reserve, they said, will be the two most important factors that the markets will keep a tab on. That apart, the valuation of the Indian markets, they feel, will also be eyed in context of how global peers are performing.
A couple from Mumbai who recently shifted to Kerala has received Rs 15.31 crore from an anonymous donor to purchase a life-saving drug for the treatment of their 16-month-old son.
A petition seeking a review of the October 17 verdict refusing to accord legal recognition to same-sex marriages was mentioned before the Supreme Court on Thursday for an open court hearing.
The review plea by one of the petitioners Udit Sood has been filed with the apex court registry.
We must stop stigmatising business failures. Particularly when startups are mushrooming all around, the financial system, backed by the RBI and the government, can explore ways of extending support to restart the journey of a failed entrepreneur by finance as well as counselling, recommends Tamal Bandyopadhyay.
'They have since only tried to improve systems. Also, with regulatory guidance from time to time, we are in a position to assess a situation and react in time.'
The film falsely claims Hindu women converted, got radicalised and were deployed in terror missions in India and the world, according to the ruling CPI-M and opposition Congress in Kerala.
The decision to repeal the Act was taken at a late-night cabinet meeting on Friday as it is an obsolete pre-Independence Act of the British for the then province of Assam, the CM said.
Law must not only change with changing social needs, it must recognise technological advancements, the Kerala high court has said while referring to a larger bench the question -- whether a wedding under the Special Marriage Act (SMA) can be solemnised online via video conferencing.
A larger bench of the Kerala High Court will examine whether a wedding under the Special Marriage Act (SMA) can be solemnised online via video conferencing.
Benefiting from higher credit off-take and loan repricing, listed commercial banks are expected to post 43.9 per cent year-on-year (YoY) growth in their net profit in the quarter ended June 30 (Q1FY24), analysts have said. Controlled credit costs due to a healthy asset quality profile and a steady treasury book will also support a strong bottom line for the lenders in the first quarter. However, net profit may shrink sequentially, according to analysts' estimates for 13 banks sourced from Bloomberg data.
Four more people belonging to the gay and lesbian community urged the Delhi high court on Thursday to declare that marriages between any two persons irrespective of their sex be solemnised under the Special Marriage Act (SMA).
The difference between what the banks play in the US and India is not that of soccer and football but rugby and football. SVB also has a unique character. But when risks are mispriced, the fallout could be very similar, points out Tamal Bandyopadhyay.
When asked whether there was any intelligence input on any possible attack against the advocate, he replied in the negative.
The focus of the meeting will be on enabling businesses and households to avail of the revival framework on the basis of viability, necessary steps like finalising bank policies and identifying borrowers, and discussing issues that require addressing for smooth and speedy implementation.
Chief Justice of India D Y Chandrachud on Tuesday said the State has an obligation to recognise unions entered into by queer couples and grant them benefit under the law.
A bench of justices R S Endlaw and Asha Menon issued notice to the Centre and the Delhi government seeking their stand on the plea by two women seeking to get married under the SMA.
State Bank of India's earnings growth may turn lacklustre in the near-term, warn analysts. This, they said, could be due to margin compression and likely lower fee income over the next one year. "While the cost of deposits is repricing sharply across the system, there will be relatively lower yield expansion going ahead as most of the back-book has been repriced and there is a high competitive pressure on yields.
Bandhan Bank has declared disappointing results for the first quarter of the 2023-24 financial year (Q1FY24). While the market has been braced for known issues around microfinance exposures in West Bengal and Assam, there is higher stress in the portfolio. This means higher credit costs and poorer asset quality, leading to target downgrades by analysts.
'I do not want every Tom, Dick and Harry to collect money. Is there any state control over this collection of funds via crowdfunding?'
It had been pointed out to the banking regulator that one-day default was difficult to monitor in large companies, especially where cash flows are dependent on government payments.
A same sex couple has moved the Delhi high court seeking they be allowed to get married under the Special Marriage Act, saying they have been living together as a couple for eight years, in love with each other sharing the highs and lows of life, but unable marry as they are both women. A similar plea has been moved by two men, who got married in the United States, but their marriage was not registered under the Foreign Marriage Act of 1969 by the Indian consulate as they were a same sex couple.
Move to increase 90-day window to 120 days to give more time to borrowers to service loans.
'The RBI's clarification on non-performing advances accounting is likely to increase NPAs by around one-third for non-banking finance companies,' domestic rating agency India Ratings and Research said in a report on Friday.
If a holiday, banks will have to report the details on the next working day.
'The approach today is, instead of giving loans to 100 MSMEs, let us give one loan to a big-ticket corporate.' 'And so many of these big fish deceived the banks and the banks are in the doldrums now with high NPAs.'
Not all NPAs are treated as wilful defaulters.
The NDA government will be following the footsteps of its predecessor, the UPA, which had introduced the concept of "loan mela" to boost credit by directing banks to lend to people through public meetings.
Apart from easing the NPA pressure on domestic banks, the RBI's move can allow companies to raise cheap, long-term loans easily now.
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