Fitch Ratings on Monday said it expects a moderately worse sector outlook for Indian banks for the next fiscal beginning April 1 based on muted expectations for new business and revenue generation, and deteriorating asset quality. Fitch believes that the disproportionate shock to India's informal economy and small businesses, coupled with high unemployment and declining private consumption, have yet to fully manifest on bank balance sheets. The rating agency said the impact of the COVID-19 pandemic is likely to pose challenges to Indian banks' improving financial performance once asset-quality risks manifest in the financial year ending March 2022.
The Asian Development Bank has approved a US$ 1.5 billion (around Rs 11,185 crore) loan to India for COVID-19 vaccine procurement.
Experts point to the higher contribution of rural from the north for the growth reported by the region, a point endorsed by companies who've been pushing their presence aggressively there.
'There is a deep stigma or taboo attached to COVID-19 in rural areas.' 'People don't want to test because they fear social exclusion.' 'Even those who test positive may not reveal and not follow the quarantine protocol.'
China's deteriorating economy is a serious concern. Xi Jinping and China's new premier will have a difficult task ahead of them after the 20th party congress, notes Jayadeva Ranade, the retired senior RA&W officer and China expert.
The state government is closely monitoring the situation in areas outside the cities of Mumbai, Pune, Nashik, Nagpur, Aurangabad and Amravati, a senior state official said.
The states were advised to plan for the requisite number of isolation, oxygen supported and ICU beds based on the prevalent and expected case growth rate. the Ministry of Health and Family Welfare is also monitoring the COVID-19 hospital infrastructure, he said.
In the midst of the stand-off between the Congress and its ally Nationalist Congtress Party at the Centre, the urban development department headed by Maharashtra Chief Minister Prithviraj Chavan on Friday came in for criticism by his Deputy Ajit Pawar over its alleged failure to spend funds allocated to it.
Barcelona's board of directors have rejected the option of building a new stadium and will push ahead with a remodelling of the Nou Camp.
'The Chennai floods in particular clearly show there is a nexus between corruption, disaster, destruction and death.' 'Urban development in India is the source of all corruption.'
The nod by the Heritage Conservation Committee came nearly a week after the Supreme Court asked the Centre to seek prior approval from the panel and other relevant authorities before starting construction of the new parliament building.
'Loss of these urban salaried jobs is, therefore, likely to have a particularly debilitating impact on the economy, besides causing immediate hardship to middle-class households,' points out Mahesh Vyas.
India's cities are bursting at the seams because poor people are migrating to them in search of work.
The Centre had decided to spend Rs 50,000 crore (Rs 500 billion).
Italy failed to qualify for the second consecutive edition of the FIFA World Cup after succumbing to Northern Macedonia in the UEFA Qualifiers
While the New Delhi Municipal Council area was given the 'Cleanest Small City' award, Uttarakhand's Gauchar was adjudged the 'Best Ganga Town' in the central government survey.
'When the war against Ukraine that Putin started is not going the way he was expecting it to and his military options are getting onerous, a bit of nuclear sabre rattling is what he hopes will turn things around for him and Russia.'
The Tokyo Metropolitan Government said it plans to also open up other Olympic venues in the coming months, although that could change depending on the coronavirus situation.
'We referred the case to the attorney general.' 'I told Mukul Rohatgi, "mujhe aap ka honest opinion chahiye".' 'He too said those were different offers.' Trai could not have stopped Reliance even if the Jio offers had been the same, Trai chief Ram Sewak Sharma tells Subhomoy Bhattacharjee.
A three-judge bench headed by Justice AM Khanwilkar, by 2:1 majority, held that the grant of the environmental clearance and the notification for change in land use for the project was valid.
The end-to-end exercise was undertaken in Krishna district of Andhra Pradesh, Rajkot and Gandhinagar of Gujarat, Ludhiana and Shaheed Bhagat Singh Nagar of Punjab, and Sonitpur and Nalbari districts of Assam on Monday and Tuesday.
Prasanna D Zore/Rediff.com reports from Shivaji Park and the MMRDA ground to sense the mood of Shiv Sena workers -- from the Uddhav Thackeray and Eknath Shinde camps.
After a controversy arose over some civic bodies' plans to act against handcarts selling non-veg foods on main thoroughfares, Chief Minister Bhupendra Patel on Monday had said the state government has no problem with people's food choices.
CBI has alleged that Rana Kapoor entered into a criminal conspiracy with Kapil Wadhawan, DHFL director-promoter for round-tripping of funds where loans from Yes Bank to DHFL landed in companies owned by Kapoor's daughters, DoIT Urban Ventures.
We have our own problems for sure and they are not trivial, but for now, our economy is in not too bad a shape, our politics is as personality-driven and authoritarian as that of most countries in the world. We must make the best of what we have and not be excessively unhappy looking at the grass on the other side of the septic tank which may not be greener after all!, observes Shreekant Sambrani.
RRVL will make an open offer to acquire up to an additional 2.17 crore equity shares of Just Dial, representing 26 per cent stake, in accordance with Sebi Takeover Regulations, a regulatory filing said.
The lawyer attached a digital forensic report from a Massachusetts-based forensic firm Arsenal Digital which mentioned that a hacker hacked Rona Wilson's laptop and planted 10 letters right before Wilson's arrest.
Planning for your future can be tough for anyone especially in this age of unlimited spending and investment choices. But with these pieces in place, you'll be well on your way to financial security.
'If your paper writes something you don't agree with, will you criticise it?' Nitin Gadkari asks Aditi Phadnis when quizzed about demonetisation.
The publishing house faced massive backlash online on Friday after an advertisement of the book launch on Saturday with Bharatiya Janata Party leader Kapil Mishra as a guest of honour did the rounds on social media.
AAP is working on its new strategy to build a strong organisational set-up with leaders from all sections of society, reports Nitin Kumar.
While Rajasthan BJP president Satish Poonia accused the Congress of being behind the demolition, state Congress chief Govind Singh Dotasra asserted that it was the decision of the city's municipality headed by the saffron party.
Analysts have their doubts how much independence she has as finance minister. As Amit Mitra advises the chief minister, day-to-day work is done by the finance secretary and the chief secretary.
Indian cities need hard infrastructure but ultimately they are not about buildings, roads and sewage drains but about people and their varied social and economic interactions, says Sanjeev Sanyal.
Waste management, digital urban land management and urban transportation key areas of focus
Operation Romeo is disappointing not because it is a bad or boring film, but because it did have something significant to say and chickened out, observes Deepa Gahlot.
Her research was focused on urban development, macro-economic reforms, industrial development, and social sector development issues in India.
'Given the possibility that our unstable northern and western borders may become 'live' at short notice, any major systemic change which impacts combat effectiveness should be brought about in a cautious and progressive manner.'
With the unanticipated floods across Tamil Nadu catching the unprepared administration unawares, Stalin finds that some of the early positives that had rubbed on his initiatives have been lost, observes N Sathiya Moorthy.
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Amul plans to bring camel milk to the breakfast table
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