Formula E uses electric vehicles and hence these lithium-ion batteries go through the perfect endurance tests, with learnings percolating to road-legal vehicles in future.
There are a number of other hill-stations, excluding the popular ones, which you can consider if you are looking for a perfect weekend getaway. These places, being less travelled, will keep you away from the hustle-bustle and possibly give you the relaxation you have been looking for.
The development is likely to increase pressure on the government to adjourn the Parliament session, which the Opposition has been demanding.
Three Indian engineers held by the Taliban in Afghanistan since May 2018 have been freed by the militant group in exchange for 11 of its top members from Afghan jails, according to an Afghan media report on Monday.
Underscoring that the situation in Kashmir is bigger than party issues, People’s Democratic Party (PDP) chief Mehbooba Mufti refused to meet a delegation of her party members.
The 11-member high-level BJP delegation led by general secretary Arun Singh also urged China to take measures to increase imports from India so that the $57.86 billion trade deficit could be brought down.
This is a clear evolution of the US administration’s position, especially weeks before the Prime Minister is scheduled to travel to the US for the United Nations General Assembly in New York.
On the COVID-19 pandemic, SBI Card said globally, countries and businesses are under lockdown and there is a high level of uncertainty about the duration of the lockdown and the time required for things to get normal.
The bank has provided moratorium to around a third of its customers, RBL Bank MD & CEO Vishwavir Ahuja said in a conference call after results.
Earlier on April 7, the public sector bank announced a reduction in MCLR by 35 bps. and reduced savings deposit rate by 25 bps, citing adequate liquidity in the system.
Banks are flush with liquidity, but they also have to look after the interest of depositors.
In the gold loan category, which accounts for 87% of our standalone portfolio, more than 90% are servicing their dues.
In an interview with CNBC TV18, Kumar said the time is right to set up a structure, along the lines of a bad bank, given there are adequate provisions for existing non-performing assets (NPAs).
Similarly, for home loans between Rs 30 lakh to Rs 75 lakh, the effective interest rate is now at 7.65%, compared to 7.45% earlier.
Analysts say that some of these accounts availing moratorium could very well have turned defaulters in the ordinary course of business, but the moratorium delays recognition by a few months.
The communication further stated that Covid-19 is wreaking havoc on the economy which, in turn, will impact a financial services firm like KMB.
This will lead to the share of retail and small business loans to grow to a level of 60 per cent in the next two years from the current 44 per cent, he said.
State Bank of India (SBI) has decided to give select Non-Banking Financial Companies (NBFC) a three-month repayment holiday, persons familiar with the development said.
The coupon on the bonds, to be maturing in December 2021, has been fixed at 7.06 per cent per annum.
State-owned Indian Overseas Bank and Bank of Maharashtra on Wednesday announced a reduction in their marginal cost of funds based lending rate (MCLR). "Our Bank has revised the MCLR w.e.f 10.05.2020 until further review," Indian Overseas Bank said in a regulatory filing. The Chennai-headquartered lender said the MCLR for the benchmark one-year tenor loan has […]
Kapoor, former MD and CEO of Yes Bank, was arrested by the ED on March 8 under the Prevention of Money Laundering Act (PMLA). He is accused of sanctioning loans to certain firms against kickbacks.
Having come up with emergency credit lines to help businesses weather the Covid storm, banks are seeing little demand for fresh credit at this stage.
The loan has been disbursed under a refinance scheme by Nabard from its own resources and was given this week, it said.
The government can issue recapitalisation bonds, or the Reserve Bank of India's (RBI) huge reserves of over USD 127 can also be dipped into to help the state-run banks' recapitalisation needs, it said.
The government can issue recapitalisation bonds, or the RBI's huge reserves of over USD 127 can also be dipped into to help the state-owned bank's recapitalisation needs, it said.
RBI, on April 17, announced to provide special refinance facilities for a total amount of Rs 50,000 crore to NABARD, SIDBI and National Housing Bank (NHB) to enable them to meet sectoral credit needs.
The development also shows the government's push for digital technology has enabled people to access banking services even when the pandemic spread its tentacles.
AU Small Finance Bank (SFB) reported an increase of 3.5% year-on-year in PAT to Rs 120 crore (our estimate: Rs 180 crore), affected by higher provisions of Rs 150 crore.
Banks could review extending the moratorium to non-banking financial companies (NBFCs) after a meeting with the Reserve Bank of India (RBI) on Saturday.
Delhi high court, in an interim order on May 1, has allowed HDFC Bank to deduct a Rs 90-crore loan installment from Indiabulls' fixed deposit which it holds as security.
As per the bank's website, it had deposits of Rs 485.56 crore, loans of Rs 161.17 crore and a negative networth of Rs 239.18 crore.
The state-owned bank launched an emergency credit line to provide funds to its existing MSME and corporate borrowers in the last week of March, soon after the lockdown was announced.
The number of NPA accounts rose from 2,08,035 as on March 31, 2014, to 6,17,306 as of December 2019.
The RBI, in a press release, said 'financial position of the bank is highly adverse and unsustainable'.
Implementation of three months moratorium on repayment of loan instalments announced by the RBI was also reviewed during the meeting.
China’s central bank has started testing its official Bitcoin-like digital currency DCEP, and the bank is now planning to roll out the virtual money payment system soon.
The three year NCD issue of Indiabulls Housing Finance opened on April 29. Although, the base issue size was Rs 100 crore, but it had a greeshoe option of Rs 900 crore.
The meeting will take stock of implementation of several steps announced by the RBI, including moderation in interest rate and its transmission, as well as liquidity infusion measures to support the industry.
Warburg Pincus affiliate Dayside Investment Ltd and insurance firms ICICI Prudential Life Insurance Company, HDFC Life Insurance, and Bajaj Allianz Life Insurance will infuse capital in the lender.
The RBI had earlier extended the deadline for one-time debt restructuring of MSMEs from March 31, 2020, to December 31, 2020.
On Thursday, the RBI said banks would be eligible for regulatory benefits irrespective of whether they supported MFs with resources from the special window or otherwise.
According to sources, the RBI has conveyed to banks that there is no restriction for them to provide moratorium to NBFCs.
Earlier in the week, the Reserve Bank had announced Rs 50,000-crore SLF-MF scheme to bailout the mutual funds facing redemption pressure.
Accordingly, all regulatory returns required to be submitted by such entities to the Department of Regulation can be submitted with a delay of up to 30 days from the due date.
This classification will require banks to make provisions of 100% of the total amount due to them as per Reserve Bank of India (RBI) guidelines.
The window was announced after the markets were roiled by news, last Thursday, of Franklin Templeton MF winding up six of its debt funds amid mounting redemptions. It will remain open till May 11.
The Reserve Bank in October 2018 had barred the bank from granting or renewing any loan for six months and later extended the curbs twice.
The bank’s advances grew 15% y-o-y to Rs 5,71,424 crore as on March 31, with retail loans up 24% y-o-y to Rs 3.05 lakh crore, accounting for 53% of the net advances.
“Keeping it open-ended and on-tap would be a better idea than conducting the operation on a pre-decided date. Banks should get enough leeway in deciding how much they want to borrow and when to borrow,” said an expert.
In a response to an RTI filed by Saket Gokhale, the central bank declined to offer names of wilful defaulters as on February 16, 2020, stating that this data is not available.