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.

Deutsche Bank chief executive officer Christian Sewing was there to give the annual pep talk to his top executives.

Samsung Electronics surprised the market on Tuesday with an estimated 29% drop in quarterly profit, blaming weak chip demand in a rare commentary issued to ‘ease confusion’ among investors already fretting about a global tech slowdown.

For the Federal Reserve, 2019 has started out looking a lot like 2016: The last time uncertainty over global growth roiled financial markets for months on end.

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.

It’s been a rough few weeks for the world’s wealthiest man.

As Trump claims to be the first American president to stand up to Beijing, his aides have built a possible deal on a foundation of distrust.

The biggest palm oil producers stepped up lobbying in Brussels to defend its future in the European market.

Indonesia’s Lion Air firms up moves to drop a $22 billion order for the 737 in favour of the Airbus jet, according to a person with knowledge of the plan.

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

The extradition bill, which would cover Hong Kong’s 7 million residents as well as foreign and Chinese nationals in the city, was seen by many as a threat to the rule of law in the former British colony.

The fund will work in a similar manner in which the public sector and private sector partnered to invest and rescue Yes Bank.

Direct Benefit Transfer (DBT) to the poor and vulnerable section of society, hit hard by the coronavirus outbreak and the consequent lockdown, is providing financial support for sustaining during these difficult times.

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.

"Since March 15, our volumes on outward remittance services have increased many fold. There is a significant difference in before-and-after demand since mid of March," said Praveen Kutty, Head of Retail and SME Banking, DCB Bank without quantifying the increase in demand.

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

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

Earlier, the Business Correspondent Federation of India (BCFI) had said that while the BCs were offering services of cash withdrawal, very few are depositing money in the wake of the current lockdown.

Ananth Narayan, professor-finance at SPJIMR, believes that while TLTRO 2.0 is welcome, it does not address the core issue.

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.

It appreciated HDFC Bank's comfortable capitalisation, strong earnings, regular capital raising to fund above-average growth and the "best" asset quality in the system.

The bank saw the fallout of the lockdown in the second half of March, with loan origination and cross-selling of other products slowing down, the management said.

The RBI announced the liquidity facility under the TLTRO 2.0 window for NBFCs and MFIs after these institutions failed to get funding under the earlier TLTRO scheme announced late in March.

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. 

In a recent report, global ratings agency Standard & Poor's had said Kotak Mahnidra Bank can weather the challenges that will be posed by the infections and affirmed its rating on the lender.

It said sectors with higher leverage, such as power, telecom, roads, textiles and fertilisers, will be the major beneficiaries and account for nearly 47 per cent of the total breather available.

Loan waiver schemes for agricultural loans introduced by some of the state governments may also help reduce stress to some extent.

In the fiscal ended March 31, 2020, bank loans had decelerated to 6.14 per cent, a near five-decade low, due to slower economic growth, lower demand and as banks remained risk averse.

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.

In the last Parliament session, Rahul Gandhi had asked the government to provide a list of top 50 bank loans defaulters in the country, leading to sharp exchanges and uproar in the Lok Sabha.

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.

“Keeping it open-ended and on-tap would be a better idea than conducting the operation on a pre-decided date. Banks should get enough leeway in deciding how much they want to borrow and when to borrow,” said an expert.

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.

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.

Earlier in the week, the Reserve Bank had announced Rs 50,000-crore SLF-MF scheme to bailout the mutual funds facing redemption pressure.

According to sources, the RBI has conveyed to banks that there is no restriction for them to provide moratorium to NBFCs.

The RBI, in a press release, said 'financial position of the bank is highly adverse and unsustainable'.

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.

As per the bank's website, it had deposits of Rs 485.56 crore, loans of Rs 161.17 crore and a negative networth of Rs 239.18 crore.

Delhi high court, in an interim order on May 1, has allowed HDFC Bank to deduct a Rs 90-crore loan installment from Indiabulls' fixed deposit which it holds as security.

The government can issue recapitalisation bonds, or the Reserve Bank of India's (RBI) huge reserves of over USD 127 can also be dipped into to help the state-run banks' recapitalisation needs, it said.

Kapoor, former MD and CEO of Yes Bank, was arrested by the ED on March 8 under the Prevention of Money Laundering Act (PMLA). He is accused of sanctioning loans to certain firms against kickbacks.

Analysts say that some of these accounts availing moratorium could very well have turned defaulters in the ordinary course of business, but the moratorium delays recognition by a few months.

In an interview with CNBC TV18, Kumar said the time is right to set up a structure, along the lines of a bad bank, given there are adequate provisions for existing non-performing assets (NPAs).

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

Earlier on April 7, the public sector bank announced a reduction in MCLR by 35 bps. and reduced savings deposit rate by 25 bps, citing adequate liquidity in the system.

Indian Holidays Pvt. Ltd., one of the premier luxury tour operators has announced a minimum 5% discount on select departures for IRCTC and Maharashtra Tourism’s flagship luxury train, the Deccan Odyssey. The journey tariffs had recently been lowered in a bid to make the Deccan Odyssey...

Karnataka Tourism’s flagship luxury train, the Golden Chariot is now available for charter at only $70000 (Rs. 3,500,000). The minister said: “Around 80 tourists can travel in the train per tour. By introducing the charter service, private individuals or organizations can have...

Popular Indian luxury train, The Maharaja’s Express, has been awarded World’s Leading Luxury Train 2012 at the World Travel Awards 2012 held in New Delhi yesterday. The train was one of the contenders for the coveted title of the best luxury train in the world which included the...

One of the premier luxury trains in India, the Deccan Odyssey, has announced revised departure dates for the remaining of the season. This luxury train will run for 4 more times before completing its 2012-13 season in April 2013. Dubbed India’s Blue Train, the Deccan Odyssey offer weeklong...