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1 month ago

Microfinance meltdown: Five stocks that could come out on top

The microfinance sector is facing a severe downturn, with every small finance bank and non-banking finance company involved in microlending seeing declines of 30-50%. Equitas Small Finance Bank estimates that around 50% of loans overdue by 90 days eventually become NPAs, though this figure varies across lenders. Equitas Small Finance Bank, Ujjivan Small Finance Bank, CreditAccess Grameen Ltd, and Arman …

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8 months, 1 week ago

Jacob Zuma’s nine lives: How South Africa’s ex-president keeps coming back

Al Jazeera

In March, the Electoral Commission of South Africa barred former President Jacob Zuma from running as a parliamentary candidate in next month’s general elections due to a previous criminal conviction which rendered him ineligible under the law. Zuma’s return to South Africa’s political centre stage, as a challenger to incumbent President Cyril Ramaphosa, is not surprising, say analysts. these issues …

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1 year, 5 months ago

Bank of Maharashtra Q1 net profit jumps 95% to ₹882 crore; NII rises 39% YoY

Live Mint

Bank of Maharashtra, the state-run lender, reported a standalone net profit of ₹882.08 crore in the first quarter of FY24, recording a sharp growth of 95.2% from ₹451.90 crore in the corresponding quarter of last fiscal. Net Interest Income, which is the difference between interest earned and interest expended, during Q1FY24 rose 38.8% to ₹2,339.7 crore from ₹1,685.7 crore, YoY. …

Bank Yoy Bank Of Maharashtra Crore Nii

1 year, 11 months ago

Budget 2023: I belong to middle-class family, understand their pressure, says Sitharaman

India TV News

Ahead of the Union Budget, Finance Minister Nirmala Sitharaman said on Sunday that she was aware of the pressures of the middle class but also recalled that the present government has not imposed any fresh taxes on them. Sitharaman will present Union Budget for 2023-24 in the Lok Sabha on February 1 amid expectations that the government will raise the …

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2 years, 6 months ago

Of what good is a bad bank?

The Hindu

The story so far: Finance Minister Nirmala Sitharaman on Monday announced that the National Asset Reconstruction Company along with the India Debt Resolution Company will take over the first set of bad loans from banks and try to resolve them. A bad bank is a financial entity set up to buy non-performing assets, or bad loans, from banks. The aim …

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2 years, 9 months ago

Bad loans: Why, this time, it’s different

Hindustan Times

Non-performing assets or bad loans of banks have come down to their lowest levels, Reserve Bank of India governor Shaktikanta Das said at a Confederation of Indian Industry event on March 21. When seen in the context of gross NPA share falling to 6.9% of all loans, according to RBI’s Financial Stability Report released in December 2021 — the latest …

India Npa Bad Loans

3 years ago

Corporate India needs a proactive mindset for debt resolution

Live Mint

Over the years, concerted efforts have been made to determine and resolve non-performing assets of banks and financial institutions in our country. As per the RBI’s March Financial Stability Report, gross NPAs are expected to be slightly elevated at around 11.22% of overall credit deployment by March 2022 for all scheduled commercial banks. In an effort to trim NPAs, a …

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3 years, 10 months ago

New NPA Cycle, Privatisation Among Ailments in Banking that Union Budget 2021 is Expected to Address

News 18

With the Union Budget less than a week away, stakeholders in the banking sector expect the Centre to go beyond recapitalisation of bonds to infuse capital in public sector banks. The RBI’s stress test recently revealed that bank NPAs could jump from 7.5 per cent in September last year to 13.5 per cent by September this year. The gross non-performing …

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