Content creators mean business
Social media influencers are flipping the rules by first getting followers and then launching products and ...
The Supreme Court on Thursday extended the relaxation of rules over the classification of non-performing loans until further notice, delaying the disclosure of how much bad debt banks actually hold.
The three-judge bench headed by Justice Ashok Bhushan on Thursday gave the government two weeks to come up with relief measures for virus-hit businesses and said such a decision had to be put before the court for consideration. It also reiterated that banks must not classify as bad any loans that were performing at the end of August until further order.
The hearing comes after a group of borrowers petitioned to stop banks from collecting interest during the loan moratorium that ended in August. The central bank had allowed lenders to excuse cash-strapped borrowers from paying instalments until August 31 and lenders to collect interest for the period the repayment was due once the moratorium ended.
After the moratorium ended, it was replaced by a longer-term loan restructuring program for up to two years. The central bank also set strict eligibility criteria for borrowers who had been hit hard by the economic fallout of the pandemic.
A delay in recognising problem loans means that bad debt could fester for longer in a nation that contracted 23.9 per cent in the June quarter, the most among the world’s largest economies. That will add to the pile of India’s non-performing debt, which is already the highest among major markets globally.
While borrowers accounting for more than a third of the outstanding loans sought a repayment holiday when the program was announced in late March, many did not go for an extension to the moratorium in May after realising the higher costs. That meant that the percentage of borrowers opting for a second loan holiday dropped to 18 per cent in June, according to estimates by Jefferies Financial Group Inc.
Social media influencers are flipping the rules by first getting followers and then launching products and ...
Paneer, once alien to the South, has found a lucrative market in Chennai
WPP agency Wunderman Thompson has launched its annual Future 100 report, lifting the lid on trends shaping the ...
Carriers claim that all measures — including pre-flight tests, cabin sanitisation and fresh air inflow — have ...
What filters should you apply when mining for under-the-radar small-cap stocks? Read on to find more
High valuation, intensely competitive landscape and small cap nature of the stock are key risks.
Amid choppiness, the benchmark indices slipped marginally; approach the week with caution
SBI Cards (₹1,032.7): Witnesses fresh breakoutBetween September and December last year, the stock of SBI Cards ...
A virus swept aside 2020 plans to mark the 250th year of the birth of Beethoven. We need the German composer’s ...
Former MLA and farmer leader VM Singh on the violence that followed the January 26 tractor rally, the impasse ...
A mysterious new exhibit has been the centre of attraction at the gallery of Modern Art. This art work has ...
Tara was a curious little girl who loved to ask questions.She lived with her parents and her grandmother — ...
Social media influencers are flipping the rules by first getting followers and then launching products and ...
WPP agency Wunderman Thompson has launched its annual Future 100 report, lifting the lid on trends shaping the ...
Paneer, once alien to the South, has found a lucrative market in Chennai
The Flipkart kids playing adults are back — this time to push the home grown e-commerce marketplace’s grocery ...
Three years after its inception, compliance with GST procedures remains a headache for exporters, job workers ...
Corporate social responsibility (CSR) initiatives of companies are altering the prospects for wooden toys of ...
Aequs Aerospace to create space for large-scale manufacture of toys at Koppal
And it has every reason to smile. Covid-19 has triggered a consumer shift towards branded products as ...
Please Email the Editor