The alleged multi-crore fraud involves allegations of cheating by more than 15,000 depositors who were duped with false promises of unusually high returns.
RBI’s latest financial sector report card highlights drop in NPAs, capital buffers for banks & better asset quality for NBFCs. But new sources of risk, like climate change, have emerged.
Indian banks, regulators, and investors weren’t worried when crises began exploding in US and European banks earlier this year. This resilience has been a long time coming.
A half-yearly report by RBI found NPA levels for both banks & NBFCs have fallen and their profitability has improved but credit delivery in India is still muted compared to peers.
While commercial banks wrote-off Rs 10.09 lakh crore in last five financial years, they have recovered only Rs 1.32 lakh cr — a shade over 13% — from these written-off accounts.
PSBs saw year-on-year rise of nearly 50% in net profit in July-Sept quarter thanks to broad-based rise in loans. But MSME stress, pace of credit & deposit growth will determine future.
Over generations, Bihar’s bane has been its utter lack of urbanisation. But now, even Bihar is urbanising. Or let’s say, rurbanising. Two decades under Nitish Kumar have created a new elite in its cities.
Indian govt officials last month skipped Turkish National Day celebrations in Delhi, in a message to Ankara following its support for Islamabad, particularly during Operation Sindoor.
Bihar is blessed with a land more fertile for revolutions than any in India. Why has it fallen so far behind then? Constant obsession with politics is at the root of its destruction.
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