NARCL to further Govt’s agenda of disinvestment of IDBI Bank, privatisation of PSBs
May 12, 2021
Once chunky stressed assets are out of the books, banks’ valuation will improve
The National Asset Reconstruction Company Ltd (NARCL), currently being put together by banks and other lenders, may structurally alter the balance-sheets of banks in such a way that it will further the Government’s agenda of divesting its stake in IDBI Bank and privatising two public sector banks (PSBs).
Once chunky stressed assets are out of the books, the valuation of these banks will improve, making them more saleable, opine market experts.
Covaxin can neutralise deadly 617 COVID variant
Rating agency ICRA on Wednesday cautioned that the continuing resurgence in Covid-19 cases, along with proliferation of localised restrictions, could dampen the pace of recovery for the Indian corporate sector.
However, the percentage of the rated portfolio that would be severely impacted by the second wave would be much lower than in 2020, it said.
Novel CoronavirusPixabay
At the same time, the agency expects contact-intensive sectors like travel and hospitality, and retail to face severe disruptions even in the second wave, and their recovery timelines to be further pushed back by these rising infections. The pace of recovery would undoubtedly be arrested by the recent surge in Covid-19 infections and associated localised restrictions. The extent of the impact would take a cue from the timelines with which this spike plateaus, and then starts receding, said Ramnath Krishnan, President, Ratings, ICRA.
April 28, 2021
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But the percentage of rated portfolios to be severely affected by the second wave to be lower than that in 2020, the rating agency said
The continuing resurgence in Covid-19 cases and proliferation of localised restrictions could dampen the pace of recovery for the Indian corporate sector. However, the percentage of rated portfolio that would be severely impacted by the second wave would be much lower than that in 2020, according to ICRA. At the same time, the rating agency expects contact-intensive sectors such as travel and hospitality, and retail to continue to face severe disruptions even in the second wave, and their recovery timelines to be further pushed back by these rising infections.
Second COVID wave will dampen India Inc s recovery: Report
The country has been reporting alarmingly high cases of infections at over 3 lakh additions and 2,000 fatalities a day, for the last few days.
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MUMBAI: The ongoing second wave of COVID-19 will dampen the pace of recovery for corporate India and the contact-intensive sectors will be hit the most, a domestic rating agency said on Wednesday.
However, the impact of the second wave on many sectors is set to be lower than the first because the lockdowns are less widespread and stringent as of now as against the strong nationwide lockdown last year which brought all economic activities to a grinding halt, Icra said.
Covid-19 resurgence to dampen recovery of India Inc: ICRA
By IANS |
Published on
Wed, Apr 28 2021 23:18 IST |
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Patna: CAIT members sitting on dharna at a market at Madhubani in Darbhanga district during Bharat Bandh.. Image Source: IANS News
New Delhi, April 28 : Rating agency ICRA on Wednesday cautioned that the continuing resurgence in Covid-19 cases, along with proliferation of localised restrictions, could dampen the pace of recovery for the Indian corporate sector.
However, the percentage of the rated portfolio that would be severely impacted by the second wave would be much lower than in 2020, it said.
At the same time, the agency expects contact-intensive sectors like travel and hospitality, and retail to face severe disruptions even in the second wave, and their recovery timelines to be further pushed back by these rising infections.