UP govt tables Rs 4,211 crore second supplementary Budget for FY20

Worried microfinance industry feels that if the “irregularity and delay” in loan repayments get longer, then there would be a major problem for every player — small, medium and large.

At the end of the second quarter, the Kolkata-based bank's gross NPAs, in absolute terms, stood at Rs 25,665.14 crore, registering over 12% quarter-on-quarter fall.

According to the project details, the state government is proposing to develop this non-major port to meet the increasing cargo demand in the state. It is expected to be an all-weather port with world-class terminal facilities, well suited to meet the present and future needs of the trades and also suitable to develop as a major port.

Revenues from anti-retroviral (ARV) formulations stood at Rs313.4 crore as against Rs281.3 crore, an increase by 11.4% y-o-y.

Revenues from operations for the third quarter rose 4.28% y-o-y to Rs6,574.82 crore on account of contribution from newly-acquired companies during the quarter.

The Centre has released Rs 11,092 crore as the first instalment in FY21 to State Disaster Response Mitigation Fund of 28 states.

While diseases and ecosystem damages, caused by aerosol-borne bacteria, and viruses are widely studied, the effect of aerosolised fungal spread on human and ecosystem health is less understood.

Someone thought to take an all-new third-generation Isuzu D-Max V-Cross and turn it up to eleven! Feel free to welcome this Thailand customised Japanese pick-up truck.

Udemy for Business is powered by Udemy, which enables the world’s experts to develop courses and share their knowledge.

He had highlighted how cricket had inculcated various attributes in him, right from teamwork to competing with passion.

The CII said the industry will see cash flows only beginning to improve in November, 2020 and perhaps get to normal levels by early 2021.

The operation of two flights from Qatar to Kerala is a part of Modi's government's mega mission to evacuate close to 15,000 Indians stranded in 12 countries between May 7 and May 13.

The earlier forecast, which was shared with the government in March 2020, had put tourism's economic value at risk at around Rs 5 lakh crore, FAITH said in a statement.

Microsoft set to unveil details about Windows 10 that can adapt PC applications to mobile devices

Pakistan on Monday conferred its highest civilian award Nishan-e-Pakistan on Saudi Crown Prince Mohammad bin Salman for his “outstanding support” in reinvigorating the ties between the two countries.

Loans and advances grew 60% year-on-year during 2019-20, from Rs 44,776 crore in March 31, 2019. Its total deposits grew 32% y-o-y to Rs 57,073 crore during the fiscal ended March, 2020. The bank had total deposits of Rs 43,232 crore as at end of March 2019.

NBFCs face a double whammy because they are offering moratorium to customers despite not getting one themselves from their lender banks, as per Crisil.

Notably, following RBI's announcement on allowing a moratorium on term loans for March 1 to May 31, most of the MFIs have extended a moratorium to their borrowers till May 31.

The new provisioning requirement has to be made for the March and June 2020 quarters and this will impact their profitability in 2019-20 and 2020-21.

Market is viewing the fund-raising announcement in a positive light as the lender’s move to build up capital reserves is being seen as a sensible move at a time of uncertainty.

Experts say more borrowers are likely to line up for emergency credit from banks as many businesses will be hit by the slump in demand and zero footfall in the market in the wake of the pandemic.

The remaining Rs 4,500 crore will be raised by way of additional Tier-1 and Tier-2 capital instruments with an inter-changeability option, the bank said in the release.

However, if collections don’t revive rapidly for the NBFCs and MFIs in particular within this period, the liquidity challenges may continue and will necessitate longer term funding,” the firm said.

The private sector lender had reported a net profit of Rs? 1,505.06 crore in the same quarter of the previous financial year.

In a response to an RTI filed by Saket Gokhale, the central bank declined to offer names of wilful defaulters as on February 16, 2020, stating that this data is not available.

The bank’s advances grew 15% y-o-y to Rs 5,71,424 crore as on March 31, with retail loans up 24% y-o-y to Rs 3.05 lakh crore, accounting for 53% of the net advances.

The window was announced after the markets were roiled by news, last Thursday, of Franklin Templeton MF winding up six of its debt funds amid mounting redemptions. It will remain open till May 11.

The state-owned bank launched an emergency credit line to provide funds to its existing MSME and corporate borrowers in the last week of March, soon after the lockdown was announced.

The development also shows the government's push for digital technology has enabled people to access banking services even when the pandemic spread its tentacles.

Having come up with emergency credit lines to help businesses weather the Covid storm, banks are seeing little demand for fresh credit at this stage.

The coupon on the bonds, to be maturing in December 2021, has been fixed at 7.06 per cent per annum.

On the COVID-19 pandemic, SBI Card said globally, countries and businesses are under lockdown and there is a high level of uncertainty about the duration of the lockdown and the time required for things to get normal. 

Football is back in South Korea for the first time since the coronavirus pandemic shut down sports around the world, and its success or failure will be closely watched by leagues everywhere.

Agile and astute, Simon Nogueira wanders over the rooftops of Paris.

STRUCTURE MAINTENANCE, BR 1-400 ON SHALLCROSS LAKE ROAD

Police forces in Sangli (Maharashtra) and Guwahati, Assam have deployed drones, provided by homegrown unmanned aerial vehicle (UAV) maker ideaForge, for surveillance of public spaces.

A group of business stalwarts, top academics and senior bureaucrats will invest Rs 300 crore to build the Masters’ Union School of Business, a business school in Gurgaon, near Delhi. It’s a B-school where classes will be taken by CXOs; campus in Cyber City, Gurgaon

Teams enables teachers and students to connect over video-enabled remote classrooms, offering a host of interactive and collabora-tive tools on one platform

La Trobe was amongst first Australian universities to 'pause' teaching activities to ensure right decisions were made on how to deliver quality education.

The rise in Jio’s ARPU (average revenue per user) during Q4FY20 was lacklustre, analysts said despite the fairly sharp 14-53% hike in tariffs in early December.

The Central Bureau of Investigation (CBI) did not carry out any searches in the matter because of the coronavirus-induced lockdown.

From wounding up six debt mutual fund schemes with an AUM of over Rs 30,000 crore, to dealing with the ire of investors, the fund house has been busy fire-fighting ever since the nationwide lockdown was announced.

Private sector lender ICICI Bank reported a 26% on-year jump in standalone profit for the quarter ended March 31. The bank saw total income in the March quarter surge by Rs 2,500 from the previous year.

The government had last week permitted the companies to restore their manufacturing operations in red, green and organ zones with certain riders.

Canada conducted its new draw in the Express Entry, and issued 3,200 Invitations to Apply to the candidates on December 11th.  In it the least Comprehensive Ranking System score was 472, which is one point increase comparing to the 131st Express…

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2. Bharat Biotech to lead monoclonal antibodies project for Covid-19 therapy  The Financial Express
3. Bharat Biotech leads CSIR project to develop antibodies against Covid-19  Times of India
4. CSIR approves project to develop human monoclonal antibodies that can neutralize COVID-19 in patients  Times Now
5. Bharat Biotech to lead project on monoclonal antibodies therapy for COVID-19  The New Indian Express
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India’s recovery rate nears 30% even as cases cross 56,000-mark  Hindustan TimesView Full coverage on Google News