Hidden bad debt is a blow to the sector given that half of India’s 22 government-controlled banks are already under the Reserve Bank of India’s strict Prompt Corrective Action program that restricts lending and expansion.
SBI’s shares surged to a six-week high after it reported a record loss on Tuesday, after a similar contrarian market reaction by ICICI Bank Ltd. and Axis Bank Ltd. reported poorer-than-expected earnings.
Axis Bank, IndusInd Bank, State Bank of India and Yes Bank are among those reaping the benefits of cheaper funds as confidence in the world’s fastest-growing major economy increases.
One has to be incredibly credulous to buy BJP spin masters’ argument that the government got rid of Vice President Jagdeep Dhankhar for harmonious relationship with the judiciary.
Modi government had also made numerous efforts to establish peace with Pakistan but has now adopted a different path, militarily, to establish peace, adds defence minister.
As Narendra Modi becomes India’s second-longest consecutively serving Prime Minister, we look at how he compares with Indira Gandhi across four key dimensions.
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