Dinesh Khara, who was one of the SBI MDs handling global banking and subsidiaries, is set to begin his three-year term Wednesday. He succeeds Rajnish Kumar.
Lessons from the 2008 Global Financial Crisis can help us avoid policy mistakes during the Covid-19 pandemic, especially with respect to inflation & bad loans.
Fear of probe agencies investigating bad loans left a deep scar on banking officials, raising their risk-averse nature to lending. RBI wants Kamath panel to take care of those fears.
In a blog, ex-finance secretary Subhash Chandra Garg said 80% of bank lending was to non-essential sectors that have completely stopped functioning in the lockdown.
In Bad Money, Vivek Kaul writes how public sector banks refrained from recognising bad loans because that meant setting aside money to meet these losses.
SBI has been helped by the resolution of some large bad loan accounts, such as Essar Steel India Ltd, but future profit may be constrained by slowing economy.
The RBI assessed that Yes Bank’s non-performing assets stood at Rs 111.6 billion as of March 31, more than the Rs 78.8 billion the bank had disclosed for the year.
RBI data suggests bad loans issue is anything but resolved and coupled with the larger economic slowdown, bankers’ proclamations can’t be taken too seriously.
India’s foreign policy today is driven less by Western alignment or global liberalism and more by domestic political imperatives — economic, ideological, and electoral.
Electronics—specifically smartphones—& energy & pharma products make up 30% of Indian exports to US. 25% tariff on India came into effect Thursday, extra 25% to kick in by August-end.
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