UPDATE 1-Indian banks’ bad debt ratio could hit nearly 15% by March in worst-case scenario -report

However, the report said contagion risks through financial networks have moderated due to the higher capital buffers introduced in recent years and a shrinking interbank market. (Reporting by Swati Bhat and Nupur Anand; Editing by Alex Richardson and Susan Fenton)

Indian banks’ bad debt ratio could hit nearly 15% by March in worst-case scenario – report

MUMBAI (Reuters) – Bad loans in the Indian banking system could soar to almost 15% of total loans by March 2021 as the coronavirus crisis leads to rising levels of household and corporate debt, the Financial Stability and Development Council said in a report published on Friday.

Dividend transfer plan: An easy way to invest payouts from a debt fund

Since April 1, 2020 the tax on dividends paid by debt funds has been abolished. But the dividends announced by mutual fund schemes are taxable in the hands of investors. Tax is deducted at source at the rate of 10 per cent on dividends, when the dividends exceed Rs 5000 in a financial year. Besides, […]

India’s IL&FS says aims to resolve nearly 60% of debt despite pandemic delays

“So far whatever we have achieved, I do believe, is relatively successful given the current macro-economic situation, because this has been a triple whammy for all of us: bad lending, no follow up, and economic disaster all around,” Vice-Chairman Vineet Nayyar told reporters.

COVID impact: Banks in no hurry to open their vaults to home loan seekers

Though TUCIBIL is upbeat on relatively less cases of non-repayment of home loans, it says that there is a possibility of non-payment for under-construction home loans. The price correction can make many home buyers jittery and banks may want to avoid such a situation. The delay in completion is another risk. If you are keen […]

Argentina strikes deal with major creditors to restructure $65 billion in debt

In addition to its private creditors, Argentina owes $44 billion to the IMF. The Fund expects the Argentina economy to shrink nearly 10% this year, as the Covid-19 outbreak cripples the global economy. The recession will only further hinder the government’s ability to pay back its debt.

No clause in loan contracts ceding Nigeria’s sovereignty to China — Chinese Foreign ministry

But the Chinese foreign ministry in a statement said “We follow a “five-no” approach in our relations with Africa: no interference in African countries’ pursuit of development paths that fit their national conditions; no interference in African countries’ internal affairs; no imposition of our will on African countries; no attachment of political strings to assistance […]

SBI Consolidated June 2020 Net Interest Income (NII) at Rs 29,638.65 crore, up 16.43% Y-o-Y

State Bank of IndiaConsolidated Quarterly Resultsin Rs. Cr.Jun’20Mar’20Jun’19Interest Earned(a) Int. /Disc. on Adv/Bills45,711.4044,170.7745,177.78(b) Income on Investment20,483.6018,873.1618,587.43(c) Int. on balances With RBI1,836.35989.20422.09(d) Others1,908.621,842.351,407.12Other Income18,044.3628,343.3417,891.59EXPENDITUREInterest Expended40,301.3240,392.4440,139.31Employees Cost12,658.2212,935.1711,608.23Other Expenses16,616.8523,156.0016,604.96Depreciation——Operating Profit before Provisions and contingencies18,407.9417,735.2115,133.51Provisions And Contingencies12,562.7614,021.619,448.71Exceptional Items1,367.272,590.59–P/L Before Tax7,212.456,304.195,684.80Tax2,008.961,746.302,301.01P/L After Tax from Ordinary Activities5,203.494,557.893,383.79Prior Year Adjustments——Extra Ordinary Items——Net Profit/(Loss) For the Period5,203.494,557.893,383.79Minority Interest-490.95-363.54-339.56Share Of P/L Of Associates63.962,715.60-93.73Net P/L […]

AMC Entertainment Clinches Financial Revamp; Debt Cut By $535M, Up To $415M Additional Liquidity Over 12-18 Months

As a result, the debt load of the nationa’s largest exhibitor has been reduced by $553 million and the company will get some $355 to $415 million of cash and other liquidity improvements over the coming 12 to 18 months after deducting transaction costs. As part of these transactions, the company issued 5 million new […]

Buzz around Leicester’s Harvey Barnes shows benefit of loan system

But he was not perfect. “With Harvey, like with most young players, it was more about understanding the other side of the game, the defensive positioning. I know from my own time as a player that positional sense – learning to be in different situations – is the hardest thing to develop. At West Brom, […]