Investor aversion and strained government finances could complicate the capital plans for some Indian banks, particularly state-owned ones, after the central bank s latest stress tests indicate that some lenders capital could fall below minimum regulatory requirements this year in the aftermath of the coronavirus pandemic. As forbearance measures to help businesses and individuals survive the pandemic end on March 31, analysts expect nonperforming assets to spike later this year. The Reserve Bank of India, or RBI, reiterated that, overall, banks have sufficient capital even in the severe stress scenario. The outcome of the stress tests are not its forecasts, but conservative assessments under hypothetical conditions, according to the RBI s
Traffic congestion back in big Indian cities with lifting of lockdown: TomTom
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BENGALURU: Road traffic congestion in India s four biggest cities Mumbai, Bengaluru, Delhi, and Pune have crawled back to pre-pandemic levels after almost a year of lockdown-induced decline, according to a report by TomTom, an Amsterdam-headquartered independent location technology specialist.
Traffic congestion in Mumbai stood at 64% in January, went down to 0% in April at the peak of lockdown and is now at 59%, according to the report.
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Likewise, Bengaluru, which was ranked the number one city globally for traffic congestion in 2019, saw traffic slump from 70% in January to 6% in April and rise back to around 48% in December, according to the report.
Bonds closed stronger on the last day of 2020 and the rupee weaker as the Reserve Bank of India (RBI) followed opposite strategies for the two throughout the year. The rupee ended at 73.1 a dollar on Thursday, against 71.4 at the end of 2019. It has depreciated 2.3 per cent in this calendar year, becoming the worst-performing currency in Asia. The rupee’s performance is also in sync with the aggressive foreign exchange reserve accumulation by the RBI. According to the latest numbers, as of December 18, India had $581 billion-plus of foreign exchange reserves. This is an increase of $120 billion. On a net basis, the portfolio flow in both debt and equity has been about $9 billion. This would indicate that not all the reserves accumulation in the year has been on the back of current accounts only. There is some amount of permanency in India s reserves now, say analysts, and it also shows that the RBI’s intervention in the rupee was made with a purpose to keep the local cur
With âEmpowering A Billion Dreamsâ theme, ET Now launches Leaders of Tomorrow Season 9
Retaining its focus on the SME, MSME and start-up ecosystem in India, the latest season will also address the issues of people from different spheres of life like a graduate, salaried professional, an enterprising housewife, and others. It is aired Monday to Friday at 10:30 pm Delhi, December 29, 2020
English business news channel ET Now has launched Season 9 of entrepreneurship platform, Leaders of Tomorrow (LoT). Driving the theme âEmpowering A Billion Dreamsâ, Season 9 is championing the aspirations of every enterprising Indian and helping shape a better future by offering relevant information and access to experts.