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Allahabad Bank

India to inject Rs 482 billion into state lenders to boost loans

The govt is hoping that a stronger banking system will help bolster loan growth hovering near a five-year high seen in December.
Construction site

India is sleepwalking to trouble on debt of real estate developers

A lack of project cash flows, combined with costlier refinancing, could force property assets to head straight to the morgue after moratorium.
A nurse at work in a Chennai hospital | Representational Image | Dhiraj Singh/Bloomberg

Indian nurses are not paying back their education loans

Total education loan NPAs of state-run banks grew to 8.97 per cent as of 31 March 2018, from 7.29 per cent two years ago.
Travel

‘Shameless’ crowdfunding to loans at 24%, Indians will do anything for Instagram-worthy trips

Millennial Indians are coming up with new, creative ways to fund their exotic travels — whether it's a trip across Europe or a weekend getaway to Lonavla.
Representation | Ruhani Kaur/Bloomberg

Festive spirit does little to revive animal spirits in India

Overall activity indicator compiled by Bloomberg shows sharp drop in a liquidity indicator & slowing growth in infrastructure industries. Mumbai: A banking liquidity crunch and weak business sentiment before state elections this year outweighed signs of a revival in consumer demand during India’s main festival season, keeping the outlook for the world’s fastest-growing major economy muted. An overall activity indicator measuring animal spirits -- a term coined by British economist John Maynard Keynes to refer to investors’ confidence in taking action -- was unchanged in October despite a slew of data from two-wheeler vehicle sales to consumer demand showing an improvement from the previous month. The measure, compiled by Bloomberg News, reflects a sharp drop in a liquidity indicator, a sign of tight financial conditions, as well as slowing growth in infrastructure industries. The latest readings back up the view that growth is moderating in India. Data on Nov. 30 will probably...
RBI

These are the terms of the truce between the RBI & Modi govt

The RBI has agreed to look into longstanding demands of the government, including easing of lending norms.  
IL&FS

IL&FS effect slams brakes on runaway growth of non-bank finance companies

RBI is looking at strengthening guidelines for non-bank lenders to avoid rollover risks after the IL&FS defaults.
Gautam Adani

Billionaire Adani nearing acquisition of GMR power plant

Adani Power Ltd will reportedly take over about 38 billion rupees of loans out of a total of 58 billion rupees that GMR Chhattisgarh Energy Ltd owes.
Supreme Cour

Supreme Court gives temporary relief to cash-strapped power sector producers

Power producers had previously challenged RBI’s revised debt servicing rules, which they allege can push nearly 75 gigawatts of projects into bankruptcy.
Photo for Representation

Barclays contemplating comeback in consumer banking in India

The UK bank intends to rebuild the retail banking operation in India by strengthening deposits and offering loans digitally. 

On Camera

File photo of US Senator Kamala Harris | Facebook

Hinduphobia makes Kamala Harris’ identity a liability. So she is ‘Black’ in US media

No wonder the wealthy and influential, but largely Democratic, Indian-American community has not yet welcomed Kamala Harris’ candidature as warmly as might be expected.
Rishi Sunak, UK Chancellor of the Exchequer, departs from Number 10 Downing Street in London, UK, on 13 February 2020 | Simon Dawson | Bloomberg

UK economy plunges into deep recession, shrinks 20.4% between April and June

Reacting to Office for National Statistics data, UK Chancellor Rishi Sunak said the figures confirm that hard times were here and warned about more job losses in the coming months.

Defence

Army convoy moving towards eastern Ladakh from Leh on 30 June 2020 (representational image) | ANI

30,000 additional troops in Eastern Ladakh, Army faces stiff task housing them for winter

There is an infrastructure shortage in Eastern Ladakh, stemming from the fact that such large-scale movement of troops was unheard of in the region, and due to the challenging terrain.
Illustration: Soham Sen | ThePrint

Modi redefined secularism with Ram Mandir as Hindu voters were fed up of Sonia-Left version

Assumptions that Indian secularism died with Ram Mandir bhoomi pujan are bunk. It is enshrined in the Constitution, and is worth preserving.