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Internet traffic hijack halts Google services

An internet diversion that rerouted data traffic through Russia and China disrupted several Google services on Monday, including search and cloud-hosting services.




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China-backed Asia trade deal pushed back to 2019

Asian nations gave up hopes of completing a 16-nation trade bloc this year, with Chinese and Australian officials now looking to finalise the deal in 2019.




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Indian-American Neomi Rao to replace Kavanaugh on DC Circuit

Prominent Indian-American lawyer Neomi Rao has been nominated by US President Donald Trump to fill Justice Brett Kavanaugh’s seat on the powerful DC Circuit Court of Appeals.




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North Korea tests new ultramodern tactical weapon

North Korean leader Kim Jong Un observed the successful test of an unspecified “newly developed ultramodern tactical weapon,” state media reported Friday, in an apparent bid to apply pressure on the United States and South Korea.




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Facebook investors want Mark Zuckerberg to step down as firm’s chairman

Facebook used a Republican public relations firm to help repair its battered reputation following criticism of social media.




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Massive data breach at Marriott’s Starwood hotels

Marriott International said it’s investigating a hack of the guest reservation database at its Starwood unit that may be one of the biggest such breaches in corporate history.




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Walmart, Google-backed Deliv end online grocery partnership

People familiar with the Walmart partnership with Deliv said the Deliv drivers had to frequently wait 40 minutes or more to collect grocery orders when they showed up at the store. One reason for that, they said, is because Walmart gives a priority to customers over delivery drivers during regular hours, which complicated the partnership.




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Lyft to woo investors with fast US growth in IPO race with Uber

Lyft will pitch investors on its fast growth in the United States as it seeks to beat out Uber to become the first publicly listed ride-hailing company, according to people familiar with the matter.




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China could use medical data to blackmail Americans, report says

The two sides have been struggling with more than 100 issues raised by the United States in a lengthy statement given to Chinese officials in May




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To infinity and beyond! China wants to build the first power station in space

China’s space ambitions are shifting into a higher orbit.




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In Max pain: Boeing’s newest, best-selling plane becomes its biggest headache

Over 40 countries, including the US, which had been one of the last holdouts, grounded airliner’s newest version after a second fatal crash proved one too many.




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Mueller Report: Pelosi under pressure as progressive demand impeachment of Donald Trump

Mueller report identified at least 10 instances of potential obstruction of justice by Donald Trump.




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Moody’s takes rating action on three NBFCs

The data from Bloomberg show that total borrowings (short term and long term) of Muthoot Finance were Rs 29,346.4 crore as of FY19.




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Lockdown impact: 42% Indians have increased use of digital payments, says report

The National Payments Corporation of India (NPCI) has been urging Indians to use more digital payment methods, so that people do not step out even to go to the ATM, reduce social contact and curb the spread of Covid-19.




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We have adequate liquidity in all four of our NBFCs: Thomas John Muthoot, CMD, Muthoot Pappachan Group

There will be very limited impact on affordable housing loans, most of which are backed by cash flow, and given mostly to the salaried class who have a steady income.




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Despite zero MDR, RuPay transactions start slipping

According to the Pradhan Mantri Jan Dhan Yojana (PMJDY) website, the total number of RuPay cards issued so far stands at over 290 million.




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Short-term impact of COVID-19 will be severe in all segments: K Paul Thomas, CEO, ESAF

ESAF has more than 96% of its exposure in the micro-segment with the average ticket size of the loan being Rs 33,000.




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Kotak Mahindra Bank cuts savings account interest rate; effective from April 20

Kotak Mahindra Bank, which has revised interest rate on daily balances in savings account multiple times over the past year or so, has again made a change.



  • Banking & Finance
  • Industry
  • Kotak Mahindra Bank

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Govt-backed credit guarantee needed to ensure banks overcome risk averseness while lending: CII

To tackle the current crisis arisen from the COVID-19 outbreak and the consequent nationwide lockdown, the government and the RBI have announced many measures to ease the stress of businesses. 




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Cash loses, digital transactions win: More people go online to transfer money in March: RBI data

Digital transactions have gained new heights in the month of March as India announced a lockdown due to coronavirus. The total value of Real Time Gross Settlement (RTGS) transactions also witnessed a spike.




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Sidbi seeks bank, NBFC applications for availing RBI’s special liquidity facility

The tenor of Sidbi’s lending to financial institutions will be 90 days. MSMEs have been cash-starved for a few years and the lockdown to control the spread of Covid-19 is a body blow to their revenues.




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NBFCs, MFIs to see Rs 50-60k cr funding gap on lack of moratorium: Report

With the first targeted long-term repo operations (TLTRO) 2.0 failing fresh funding or refinancing to the sector from this route is unlikely to exceed Rs 10,000 crore unless there is a significant change in the banks' response in the second tranche, it said.




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NBFC and MFIs’ funding gap to further increase to Rs 15k-25k crore: Acuité Ratings

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.




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Covid-19 impact: Asset quality could come under stress, says IndusInd Bank CEO

The lender’s gross NPAs stood at 2.45% of gross advances as on March 31, 2020, up from 2.18% on December 31, 2019, while the net NPA ratio stood at 0.91% of net advances as on March 31, 2020, down from 1.05% on December 31, 2019.




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Axis Bank sets aside Rs 3,000 crore for COVID-19 impact

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.




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Banks set to declare Cox and Kings exposure as ‘fraud’ account

This classification will require banks to make provisions of 100% of the total amount due to them as per Reserve Bank of India (RBI) guidelines.




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China’s Bitcoin-like cryptocurrency enters race days after Facebook’s Libra fails to fly

China’s central bank has started testing its official Bitcoin-like digital currency DCEP, and the bank is now planning to roll out the virtual money payment system soon.




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Bank of Baroda disburses Rs 2,300 crore to MSMEs under emergency credit line facility

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.




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Lockdown effect: Micro ATM transactions double to 1.13 crore per day

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.




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Yes Bank creates stressed asset management vertical to resolve NPA accounts

This will lead to the share of retail and small business loans to grow to a level of 60 per cent in the next two years from the current 44 per cent, he said.




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Loan moratorium should be in place till December 31: Yes Bank MD & CEO Prashant Kumar

Banks are flush with liquidity, but they also have to look after the interest of depositors.




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By ignoring climate emergency, world leaders are forcing children to act: Greta Thunberg

Thunberg has become a leading voice for action on climate change, inspiring millions of students to join protests around the world.




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Energy Conservation: Govt to star rate deep freezers and light commercial ACs

BEE will start rating deep freezers and light commercial air conditioners as well from now onwards. The star rating programme was launched on the 19th foundation ceremony of the BEE.




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Gaganyaan: DRDO to provide special space food and emergency survival kit for ISRO’s manned mission

ISRO is already working on a Humanoid prototype (with a female form)for the Gaganyaan missions, which is expected to be sent out on a mission next year to test it out before actually sending humans in space.




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ISRO’s Chandrayaan-3 launch schedule revealed, Gaganyaan mission on track

The Union Minister also said that the upgraded configuration in Chandrayaan-3 will make the spacecraft more robust in terms of design and it will also have an enhanced spacecraft capacity without compromising with the heritage of Chandrayaan-2.




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Elon Musk powers NASA! SpaceX spacecraft Dragon carries NASA cargo to International Space Station

Ever since Dragon became the first private spacecraft to visit the ISS in 2012, it had spent 520 days at the International Space Station




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Amazon rainforest may collapse within decades if critical point is reached: Study

The scientists noted that the loss of such key stone species may lead to a rapid and dramatic change in the landscape within our lifetime.




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Climate change is real and staring in our faces, but all’s not lost

There’s a collaborative effort across industries today to tackle the crisis. From fashion, energy and transport to beauty and food, companies across sectors are doing their bit to ensure a better tomorrow.




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Coronavirus: How is NASA dealing with COVID-19? Here’s the space agency’s action plan

Coronavirus: A week ago, an employee at the NASA’s Ames Research Centre in California was tested positive for the virus.




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Large asteroid approaching Earth! How dangerous will it be? NASA answers

The space rock will pass the earth at a distance 4.6 times of distance between the Moon and Earth.




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Elon Musk’s SpaceX to send first manned flight to space! To dock at ISS in May

The tech entrepreneur's company will launch a Falcon 9 rocket to transport NASA astronauts Bob Behnken and Doug Hurley in a first for the space agency as it looks to cut costs.




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Race for corona vaccine hots up; US, China enter human-trials stage

At least two candidates have already entered the clinical evaluation stage, according to the World Health Organization (WHO).




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Russia earthquake: 7.5 magnitude quake in north Pacific prompts tsunami watch for Hawaii

The Pacific Tsunami Warning Center said hazardous tsunami waves were possible within 1,000 kilometers (600 miles) of the quake's epicenter.




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Coronavirus test results in minutes? Scientists question accuracy

The tests could reveal the true extent of the outbreak and help separate the healthy from the sick. But some scientists have challenged their accuracy.




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India’s response to COVID-19 pre-emptive, pro-active, graded: Govt

While citing the examples of Italy and Spain, which started screening of travellers 25 days and 39 days respectively after first reported cases, it said it took a number of proactive measures and shared the chronology of the steps taken by it.




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Clear sky during coronavirus lockdown can help you spot International Space Station! Here’s how

The International Space Station which came into existence in 1998 has been in space for more than 15 years and orbits our planet sixteen times in a day.




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Space jam! Over 12,000 aspiring astronauts apply for NASA’s Moon, Mars mission! Check details

A total of 12,000 applicants applied to become astronauts at the National Aeronautics and Space Administration (NASA).




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Coronavirus Lockdown: After improvement in air quality, scientists record drop in seismic vibrations under Earth surface

The report claims that the development could help seismologists detect earthquakes of even very small magnitude, signals of which were earlier drowned in the cacophony produced by various activities.




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Coronavirus and space technologies: Satellites to fight with COVID-19!

First and foremost, through the recent COVID-19 crisis, satellite technology is found proving its utility for support.




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IIT Roorkee develops low-cost face shields for doctors, nurses treating Covid-19 patients

More than a thousand face shields have been dispatched for the doctors and healthcare staff of AIIMS Rishikesh.