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Nirav Modi won't get fair trial in India, former SC judge Markandey Katju tells UK court
India

Nirav Modi won't get fair trial in India, former SC judge Markandey Katju tells UK court

Katju also repeatedly made comparisons between India and Germany under the Nazi regime, saying Nirav Modi has been made a convenient scapegoat for India's economic crisis

India among large emerging market sovereigns to have highest debt burden by 2021, says Moody's
Business

India among large emerging market sovereigns to have highest debt burden by 2021, says Moody's

Despite steps toward the resolution of high non-performing loans, the banking system continues to suffer from weak asset quality, and low loan-loss coverage and capital adequacy, it added

Only way a bank can survive is by growing or else NPAs will become unmanageable: KV Kamath tells Network18
India

Only way a bank can survive is by growing or else NPAs will become unmanageable: KV Kamath tells Network18

The interest rates have started dropping, but they need to drop even further if the banks have to come around without too much pain, veteran banker KV Kamath tells Network18 Group Editor-in-Chief Rahul Joshi in an exclusive interview.

IDBI Bank shares rally 20% after lender posts net profit of Rs 135 cr in March quarter
Business

IDBI Bank shares rally 20% after lender posts net profit of Rs 135 cr in March quarter

IDBI Bank shares on Monday zoomed 20 percent to its highest trading permissible limit for the day after the company posted a profit of Rs 135 crore in the quarter ended March

Forced lending to cripple banks; NPAs to soar by up to 600 bps in 2 years: Fitch Ratings
Business

Forced lending to cripple banks; NPAs to soar by up to 600 bps in 2 years: Fitch Ratings

With incremental bank lending making up the bulk of the government's nearly Rs 21 lakh crore stimulus package, lenders face significant asset quality challenges which can increase their dud loan ratios by up to 6 percentage points over the next two years, warns a report

One year of Narendra Modi Sarkar sequel: 10 wins and defeats worth considering
Politics

One year of Narendra Modi Sarkar sequel: 10 wins and defeats worth considering

In many ways the Modi Sarkar 2.0 shouldn’t have had the blood, sweat and tears of the most vulnerable people it is meant to serve.

RBI board member Satish Marathe says stimulus package fails to involve banks as frontline warriors in economic revival
Business

RBI board member Satish Marathe says stimulus package fails to involve banks as frontline warriors in economic revival

The stimulus package announced by Finance Minister Nirmala Sitharaman "fails to involve" banks in the economic revival process, a member of the Reserve Bank of India's central board said on Wednesday

Yes Bank scam: ED arrests DHFL promoters Kapil Wadhawan, brother Dheeraj for money laundering
Business

Yes Bank scam: ED arrests DHFL promoters Kapil Wadhawan, brother Dheeraj for money laundering

The Wadhawans are presently in jail after being arrested by the Central Bureau of Investigation (CBI), which is also probing the same case.

Kotak Mahindra Bank Q4 net profit down 4% to Rs 1,952 cr; bad loans marginally up at 2.25%
Business

Kotak Mahindra Bank Q4 net profit down 4% to Rs 1,952 cr; bad loans marginally up at 2.25%

Kotak Mahindra Bank on Wednesday reported 4 percent decline in consolidated net profit at Rs 1,951.82 crore for the fourth quarter ended March 2020 due to COVID-19 related provisions

RBL Bank net profit declines 54% to Rs 114 cr in March quarter; bad loan provisions spike manyfold
Business

RBL Bank net profit declines 54% to Rs 114 cr in March quarter; bad loan provisions spike manyfold

RBL Bank on Thursday reported a 54 percent decline in its net profit to Rs 114 crore for the March 2020 quarter, as the provisioning for bad loans spiked manyfold

Micro enterprises best placed to help economy come out of COVID-19 crisis; eligible to get financial aid from credit institutions: Report
Business

Micro enterprises best placed to help economy come out of COVID-19 crisis; eligible to get financial aid from credit institutions: Report

The state-run lenders gained market share in 2019, adding that public sector banks now account for 49% of the MSME lending and over 59% of the lending to the micro enterprises.

Public sector banks' NPAs likely to rise by 2-4%; may push govt to recapitalise via RBI reserves, bonds: Report
Business

Public sector banks' NPAs likely to rise by 2-4%; may push govt to recapitalise via RBI reserves, bonds: Report

State-owned banks' non-performing loans are likely to rise by 2-4 percentage points, which will put up to $15 billion recapitalisation pressure on the government in FY21, a foreign brokerage firm said on Tuesday

Bad loans of Bank of Baroda, Indian Bank surge multi-fold in six years: RTI data
Business

Bad loans of Bank of Baroda, Indian Bank surge multi-fold in six years: RTI data

Non-performing assets of Bank of Baroda soared more than six-fold to Rs 73,140 crore while those of Indian Bank surged four-times to Rs 32,561.26 crore in six years, according to a Right to Information reply

Coronavirus Outbreak: SBI says difficult to take medium, long-term impact on banking sector during lockdown
Business

Coronavirus Outbreak: SBI says difficult to take medium, long-term impact on banking sector during lockdown

The SBI official also said the Indian Banks Association (IBA) is also evaluating measures, which can be taken by the banks in this situation

Axis Bank shares fall over 6% after lender reports Rs 1,388 cr net loss in January-March quarter
Business

Axis Bank shares fall over 6% after lender reports Rs 1,388 cr net loss in January-March quarter

Shares of Axis Bank on Wednesday dropped over 6 percent in early trade after the company reported a standalone net loss of Rs 1,387.78 crore for March quarter of 2019-20

IndusInd Bank shares zoom 17% after Q4 earnings; lender posts 12% decline in consolidated profit
Business

IndusInd Bank shares zoom 17% after Q4 earnings; lender posts 12% decline in consolidated profit

Shares of IndusInd Bank on Tuesday jumped 17 percent at the close of trade after the company reported its March quarter earnings

Axis Bank Q4 net loss at Rs 1,388 cr as provisions jump nearly 3 times; income increases to Rs 20,786 cr
Business

Axis Bank Q4 net loss at Rs 1,388 cr as provisions jump nearly 3 times; income increases to Rs 20,786 cr

Axis Bank said the extent to which the COVID-19 pandemic will impact the bank''s provision on assets will depend on the future developments, which are highly uncertain.

IndusInd Bank Q4 net profit down 16% at Rs 301.74 cr; bad loan provisions jump 56%
Business

IndusInd Bank Q4 net profit down 16% at Rs 301.74 cr; bad loan provisions jump 56%

IndusInd Bank on Monday reported a 16 percent decline in its standalone net profit at Rs 301.74 crore for the quarter ended March 2020, on higher provisioning

Coronavirus Outbreak: Philippine president Rodrigo Duterte accuses rebels of killing soldiers, threatens to declare martial law
World

Coronavirus Outbreak: Philippine president Rodrigo Duterte accuses rebels of killing soldiers, threatens to declare martial law

Presidential spokesman Harry Roque on Friday said Rodrigo Duterte also approved during a meeting with cabinet officials the extension of a lockdown in metropolitan Manila and several provinces and cities up to 15 May.