Is the worst over for Indian banks? The past two years saw them ride on treasury trades as deposits soared and credit growth dipped sharply. Gross and net non-performing assets (NPAs) moved south, and the provision coverage ratio (PCR), capital buffers, and profitability indicators are back at pre-pandemic levels. So, what's the plot ahead?
Prime Minister Narendra Modi on Saturday released Rs 20,946 crore to 10.09 crore farmers across India as the 10th installment of financial aid under the PM-KISAN scheme and said there was a need for innovation in agriculture along with promotion of natural farming. Under the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme, a financial benefit of Rs 6,000 per year is provided to the eligible farmer families, payable in three equal installments of Rs 2,000. The PM-KISAN scheme was announced in the February 2019 Budget.
More than 90 per cent stocks in the NSE 500 universe are currently trading above their 200-day moving average (DMA). Experts say this is a sign that the market has become overheated and can lead to a correction or sideways movement for a long period. The 200-DMA is a key technical indicator used by traders to get a sense of market direction. A level, which is roughly a 40-week average, often acts as key support or resistance.
'Centres like polling booths can be set up for the area till the last adult is vaccinated -- open on all days from 9-9.' 'People should be able to come as per their convenience.'
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."
Rather than talking endlessly about lost and marginal opportunities, India's climate envoys need to start thinking bigger, says Mihir S Sharma.
'This debate is going on all over the world and everybody is saying that only GDP cannot estimate the real (economic) situation of a country.'
Microfinance institutions' deluge of problems, it seems, is never-ending.
The West Bengal government has tied up with the Indian Institute of Management, Calcutta, to launch a reality show, Egiye Bangla.
The video also showed protests by locals at Garia, a suburb in the southern fringes of the city where the incident had allegedly taken place, who claimed that the bodies were those of novel coronavirus victims. West Bengal Governor Jagdeep Dhankhar expressed concern over the video and sought a report regarding the incident from the state home secretary.
The social media giant confirmed in a blog post that it has removed the accounts as part of an effort following the riot last week "to protect the conversation on our service from attempts to incite violence, organise attacks, and share deliberately misleading information about the election outcome."
The micro-blogging platform hopes its new emphasis on governance would help differentiate it from Facebook and Instagram.
In December last year, Amazon invested over Rs 1,700 crore into its payments and wholesale business units in India, while in October it had infused over Rs 4,400 crore (more than USD 600 million) in its various units in India, including marketplace and food retail. Bezos last visited India in 2014 when he presented Amazon's Indian unit with a giant cheque for USD 2 billion. Since then, Amazon has pledged a further USD 3.5 billion to expand in the country and the USD 1 billion investment announced on Wednesday would take the total committed investment to USD 6.5 billion.
Extended rounds of negotiations having failed, farm leaders now reckon that their best chance to pressure the government lay in defeating the BJP in the coming assembly poll, particularly in UP, observes Virendra Kapoor.
In a strange irony, the Twitter account of none other than Minister of State for Communication and Information Technology Milind Deora was suspended by the micro-blogging site.
With the world's worst outbreak of COVID pandemic stalling a nascent economic recovery, the government has begun assessing the impact of the second wave of infections on different sectors and may look at providing support at an appropriate time to segments requiring fiscal help. Some of the economic indicators, including the Goods and Services Tax (GST) collections, still provide confidence and incoming data will throw some more light on the state of the economy, sources said. Services sectors like hospitality, tourism and aviation which had just started recovering were hit hard by the second wave of COVID, the sources said, adding these segments might need some support on an urgent basis from the government.
Gohil, who is also one of the party's national spokespersons and a Rajya Sabha member from Gujarat, made the disclosure on his official twitter handle. 'Due to personal reasons, I have requested our party high command to allocate me lighter work for next few months and to relieve me ASAP as #Bihar in charge,' Gohil tweeted, tagging his party, its units in Bihar, Gujarat and Delhi besides a number of colleagues.
'...if elections were to be held today.' 'The problem is Akhilesh is not very aggressive.' 'Had he started his campaign aggressively six months ago, the picture in UP would have been very different.'
The one-size-fits-all approach adopted by the AICTE is not suitable for regulating business schools in India, argues Asish K Bhattacharyya.
Around 80 mn rural households are estimated to have no access to grid power.
The death toll climbed to 15,301 with 407 new fatalities, according to the Union health ministry data.
"Proper procedure of law is followed in Maharashtra. Police can take action against anyone if they have evidence. The state government hasn't acted out of revenge," Raut told reporters when asked about Goswami's arrest.
Twitter can probably afford to wait it out. But would it have the moral courage to do so? asks Devangshu Datta.
A report details the campaign conducted by a China-linked threat activity group RedEcho targeting the Indian power sector.
Various personalities from the sports fraternity, on Tuesday, wished Prime Minister Narendra Modi on his 69th birthday.
The BJP's manifesto speaks about the Prime Minister's vision of making 'Atmanirbhar Bihar'.
Mallya, who flew out of India in March 2016, has been living in the United Kingdom since then.
As bank loans to MFIs are mostly unsecured, the Indian Banks Association had requested RBI in December to relax its restructuring guidelines for the MFI sector.
E-commerce giant Amazon on Thursday announced a $250 million (about Rs 1,873 crore) fund that will focus on digitising small and medium businesses, and driving innovation in the areas of agri-tech and health-tech in India. "Small and medium sized businesses are often the engine and the lifeblood of economies and I think it's true in India as well. "And we are very passionate about trying to enable acceleration of SMBs in fuelling innovation and the economy in India," Amazon Web Services CEO Andrew Jassy said.
The guidelines said that keeping in view the recent spike in new cases in a few states and UTs, ongoing festival season and onset of winter, it is emphasised that to fully overcome the pandemic there is a need to maintain caution and to strictly follow the prescribed containment strategy.
The countrywide vaccination drive was rolled out on January 16 with healthcare workers getting inoculated and vaccination of the frontline workers started from February 2.
A paper authored by Rajan said, state-linked banks can be a first step in altering the ownership structure of some PSBs, where the government brings down its stakes to below 50 per cent, creating distance from operations of banks, and improving governance along the way.
The XUV100 will be launched in trendy colours like yellow and orange
There are allegations that MFIs are charging exorbitant interest rates and using strong-arm tactics to recover the loans.
'For Indian firms supplying global majors, coronavirus is both a threat and an opportunity.'
The minister on Tuesday inaugurated a three national training programmes at the National Institute for Micro, Small and Medium Enterprises (ni-msme) in Chennai.
Macroeconomic management is usually a lot more comfortable with lower fiscal deficits. The sooner we get there, the better for the economy, says former Chief Economic Adviser to the Government of India Shankar Acharya.
The Congress, Left parties, Trinamool Congress and some others were in the forefront of this attack on the government, which is set to garner around Rs 7,900 crore through the decision.
Sports Minister Kiren Rijiju on Saturday donated a month's salary over and above Prime Minister Narendra Modi's directive to all BJP MPs to contribute Rs one crore from MPLAD funds in the country's fight against COVID-19 pandemic.
State Bank of India, India's largest lender, on Thursday slashed interest rates on working capital loans to micro, small and medium enterprises by 0.5-1 per cent effective from December 16.
