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Loan growth shows Covid-19 virus leaving deep scars on India s economy

India’s risk-averse lenders are emerging as one of the biggest hurdles to the speed of the nation’s recovery from the pandemic-induced downturn, as they hold back credit when the economy needs it the most. Loans to companies and individuals has been growing at a subdued 5.5%-6% in recent months, which is half the pace seen before the pandemic struck, Reserve Bank of India data shows. The nation’s biggest lender State Bank of India wants to nearly double its credit growth rate to 10% in the year started April 1, but is willing to miss the goal. “It is a very fragile situation,” Dinesh Khara, chairman of SBI, said after reporting earnings for the fiscal year ended March. The bank would not “compromise” on asset quality to achieve targets, he said.

Madhya pradeshAndhra pradeshPrakash pandeyDinesh kharaTeresa johnAbhishek guptaSaswata guhaSuvashree ghoshSoumya kanti ghoshCentre for monitoring indian economy pvtReserve bankState bankMonitoring indian economy pvtNirmal bang equitiesBloomberg economics saysRating saswata guha

India Economy Loan Growth News: Loan Growth Shows Virus Leaving Deep Scars On India s Economy

India Economy Loan Growth News: Loan Growth Shows Virus Leaving Deep Scars On India s Economy
ndtv.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from ndtv.com Daily Mail and Mail on Sunday newspapers.

Madhya pradeshAndhra pradeshPrakash pandeyDinesh kharaTeresa johnAbhishek guptaSaswata guhaSoumya kanti ghoshCentre for monitoring indian economy pvtReserve bankState bankMonitoring indian economy pvtNirmal bang equitiesBloomberg economics saysRating saswata guhaமத்யா பிரதேஷ்

Higher Oil Prices Aren t Yet Enough for the Gulf s Weakest Link

Abeer Abu Omar and Netty Ismail, Bloomberg News BC-Higher-Oil-Prices-Arenât-Yet-Enough-for-the-Gulfâs-Weakest-Link , Abeer Abu Omar and Netty Ismail (Bloomberg) While most Persian Gulf countries replenish spent coffers with profits from rising oil prices, the regionâs smallest economy is still in bailout territory. Bahrain needs crude prices above $88 a barrel to balance its budget this year, according to the International Monetary Fund, the highest breakeven price in the six-member Gulf Cooperation Council and far above current levels around $75. Itâs preparing to tap international debt markets in the coming months to finance a deficit thatâs widened in the aftermath of the pandemic and left it lagging neighbors in the worldâs top energy-exporting region.

Saudi arabiaUnited arab emiratesCity ofUnited kingdomKhalifa alRichard briggsScott livermoreZiad daoudInternational monetary fundMoody investors serviceBahrain finance ministryGulf cooperation councilDevelopment fundPersian gulfMiddle eastOxford economics

Loan Growth Shows Virus Leaving Deep Scars on India s Economy

Loan Growth Shows Virus Leaving Deep Scars on India s Economy
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Iconic SA mines are ravaged economy s unlikely saviour

Iconic SA mines are ravaged economy s unlikely saviour
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South africaSouth africanDavid faulknerBoingotlo gasealahweElna moolmanMinerals council south africaAfrican reserve bankBank plcStandard bank group ltdCyril ramaphosaSouth african reserve bankBloomberg economics saysடேவிட் ஃபால்க்னர்வங்கி ப்ல்தரநிலை வங்கி குழு லிமிடெட்ப்ளூம்பெர்க் பொருளாதாரம் என்கிறார்