The Indian squad is packed with quality players but either wrist spinner Yuzvendra Chahal or Washington Sundar should have found place in the home team's line-up, reckons 2011 World Cup hero Yuvraj Singh.
India's aggregate NPA as a percentage of GDP is far lower than that in Italy, Greece.
In a soon to be published book, 'Of Counsel: The Challenges of the Modi-Jaitley Economy,' former chief economic advisor Arvind Subramanian says though RBI has a good reputation, it does not mean it's always right, as for years, the RBI was unable to grasp the seriousness of the loan repayment problems or identify the prolonged frauds of Nirav Modi and the likes.
SBI's gross NPA figures have shown a decline for three consecutive quarters.
Speaking at the Delhi Economic Conclave in New Delhi, Reserve Bank of India Governor Raghuram Rajan said the central bank will come out with a discussion paper next week with regard to distressed borrowers and rising non-performing assets.
'The banking sector appears to be on course to recovery,' declares the RBI governor.
A series of failed loan recast programmes continues to haunt banks.
Reserve Bank Governor Shaktikanta Das on Monday said despite the latest headwinds arising from the Jackson Hole summit leading to extreme volatility, our banking system and financial markets are strong enough to withstand such pressures. Taking the markets by surprise, US Fed chair Jerome Powell had told the annual Jackson Hole summit of central bankers and economists last week that he would have to keep raising federal fund rates to tame inflation, which remains the biggest challenge to the world's largest economy. He also warned of the pains that such monetary policy actions would create on growth and jobs.
Mixed global cues and decline in crude oil prices further dent the sentiments.
While HDFC Bank has vowed to recoup its lost market share in the credit card segment in three to four quarters by aggressively sourcing new cards, brokerages believe it is a little hard to come by, given how competitive the landscape has become, with other players in the market becoming equally aggressive to gain market share. Kotak Institutional Equities in its report on Monday said, "We would like to believe that the recovery in market share is likely to be gradual, if any. "All the key players, including Axis Bank, are now willing to expand their credit card portfolios as they have tested quite well against Covid-19."
While the government has infused huge capital into PSBs, the same has largely been used to mitigate losses and has failed to contribute meaningfully to credit growth.
The consolidated entity can target good growth FY18 onwards, analysts say.
Rajan said it is hard to offer an objective self-assessment but the RBI should probably have raised more flags about the quality of lending in the early days of banking exuberance.
The Indian equity market is likely to remain under pressure and rangebound over the next few months. This comes as global central banks, led by the US Federal Reserve look at a possibility of hiking rates aggressively to tame inflation. Back home, the Reserve Bank of India, too, remains data dependent in its endeavour to keep inflation in check and pursue an aggressive monetary policy stance.
S&P Global Ratings on Wednesday said the second wave of COVID infections poses downside risks to India's GDP and heightens the possibility of business disruptions. The second wave brings in uncertainty and a drawn-out COVID outbreak will impede India's recovery, it said.
Total income rose to Rs 20,163.25 crore during the quarter as compared to Rs 16,832.22 crore in the same period a year ago.
Collection dived to 75-80% in November-December from 99% after demonetisation.
Reliance Industries Ltd on Friday reported an 11 per cent drop in its June quarter net profit largely due to weak oil-to-chemical (O2C) vertical and higher interest and depreciation cost. Net profit was Rs 16,011 crore, or Rs 23.66 per share, in April-June - the first quarter of current 2023-24 fiscal year - compared with Rs 17,955 crore, or Rs 26.54 a share, earning a year back, according to a company's stock exchange filing.
'India has the potential to do a lot more to take advantage of the time today where we stand to gain, geopolitically and in terms of market attractiveness.'
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
FinMin plans tougher targets for bad loans, Casa and others in performance-linked pay for senior management.
After last Monday's massive fall in the Indian markets, a lot of quality stocks have fallen significantly.
2019 appears a story of two halves for Indian equities - a more difficult first half might precede a stronger second half, said Abhiram Eleswarapu, bottom, left, Head of India Equity Research, BNP Paribas in an interview with Ashley Coutinho.
The stimulus measures include extension of the 90-day moratorium on recognition of impaired loans to 180 days, in addition to several relaxations in bank lending limits, including allowing banks to fund interest on working capital loans.
'India is an equity market with a breadth and depth of companies to invest in.'
Union Finance Minister Arun Jaitley is set to present the Budget next month.
The RBI has been critical of banks for using restructuring schemes to hide the stress.
The life insurer tinkered with its business strategy - raised the share of protection plans and reduced dependency on ULIPs in the past four years.
Even as the country reels from the extended rains and the imminent Commonwealth Games, there are unmistakable signs in Delhi's environs of an unprecedented transformation.
Unlike in the past, when old private banks compromised upon underwriting standards to take on the bulk, they've now realised that scaling up at the cost of quality isn't worth the while. These banks have also readjusted growth targets when required, and rebalanced books to preserve capital and asset quality.
Shares of Yes Bank tanked over 15.52 per cent. Other losers in the Sensex pack included Tata Steel, Maruti, SBI, RIL, Tech Mahindra, ONGC, Vedanta, Bajaj Finance, Hero MotoCorp and TCS, falling up to 3.66 per cent.
Lenders can now initiate recovery proceedings since the SC has lifted the standstill on asset classification, which protected stressed accounts from slipping into NPAs.
IMF attributes the slower growth rate to supply-side bottlenecks.
India Inc's profit share in the country's GDP at 15-year low in 2018. Since 2013, net profit for top 500 companies has remained in the range between Rs 4 trillion and Rs 4.8 trillion despite steady growth in nominal GDP.
Former RBI governors Urjit Patel and Raghuram Rajan have also expressed worry about the Mudra scheme, particularly government's target-setting practice and the rising bad loans.
Axis Bank's loan portfolio quality deteriorated, with gross NPAs rising to 5.22% of gross advances.
The scrip was the worst hit among the front-line companies on both the indices during the day.
Bank credit growth declined to 8.5 per cent in January from 13.5 per cent in the year-ago period.
Fitch Ratings on Monday said the plan to privatise two state-owned banks in the current financial year ending March 2022 could face delays amid renewed challenges for the Indian banking sector due to the second wave of Covid-19. The government in the Budget announced plans to privatise two public-sector banks. NITI Aayog has been entrusted with the task of selecting the banks and one general insurance company for the privatisation.
Jaitley said there was a need for the banking sector to fund infrastructure and manufacturing sectors to support the ambitions of higher growth.
