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Net NPAs declined to 2. 12 per cent in October-December 2020, from 3.44 per cent a year ago. Photo: Mint
FILE PHOTO: A logo of Standard Chartered (REUTERS)
FILE PHOTO: A logo of Standard Chartered (REUTERS)

RBI imposes 2 crore penalty on Standard Chartered Bank

The penalty has been imposed for delays in reporting of frauds to RBI, revealed during the statutory inspection of the bank with reference to its financial position as on March 31, 2018 and March 31, 2019

Photo: Mint
Boston Celtics' Al Horford knocks the ball from Milwaukee Bucks' Giannis Antetokounmpo during the first half of Game 2 of a second round NBA basketball playoff series Tuesday, April 30, 2019, in Milwaukee. (AP Photo/Morry Gash)
Boston Celtics' Al Horford knocks the ball from Milwaukee Bucks' Giannis Antetokounmpo during the first half of Game 2 of a second round NBA basketball playoff series Tuesday, April 30, 2019, in Milwaukee. (AP Photo/Morry Gash)

Decathlon to sell NBA merchandise in India, other regions

  • The collection will be sold in more than 1,200 Decathlon stores worldwide including all outlets in India, and online at Decathlon.com. Products will be available for pre-order beginning March 2021 ahead of the April 2021 launch in stores.

Credit card spends on travel dipped sharply in ’20 (Bloomberg)
Credit card spends on travel dipped sharply in ’20 (Bloomberg)

Shopping, food top credit card spends in ’20

The pandemic has seen a shift in consumer spending, benefiting some categories like packaged food, electronics, e-commerce, while hurting discretionary goods, entertainment, eating out, and travelling

The RBI report said non-performing assets (NPAs) affect the profitability and thereby the internal accretion of capital of any financial institution (Photo: Reuters)
The RBI report said non-performing assets (NPAs) affect the profitability and thereby the internal accretion of capital of any financial institution (Photo: Reuters)

Credit risks better-managed at small finance banks: RBI bulletin

  • As on 31 March last year, about 41% of total loans by small finance banks were to small businesses, as per RBI data. The same for public sector banks, private banks and foreign banks put together, was at 17%

PVR cinemas  (AP)
Surge in power demand hints at economy’s revival.bloomberg
A large part of such failures are seen originating from NBFCs, lending apps (Photo: iStock)
A large part of such failures are seen originating from NBFCs, lending apps (Photo: iStock)

Auto-debit defaults fall in Dec

  • Transaction failures were 200 bps lower, at 38% of total auto-debits
  • The recovery is being seen at a time when judicial order has barred lenders from classifying certain loans as bad

Losses at Adani Power widened due to fuel shortages and under-utilization of power plants. Photo: Indranil Bhoumik/Mint
Loan losses and provisions rose 63% y-o-y to  ₹1,351.67 crore in Q3. Photo: Mint
Photo: Reuters
Federal Bank did not disclose the financial details of the transaction with True North. Photo: Pradeep Gaur/Mint
 ₹2000 rupees notes (Photo: Reuters)
The MSME sector is the backbone of the Indian economy, said Nitin Gadkari during the launch
Photo: Bloomberg
The new public sector unit will focus on aggregating electricity demand in the country and cater to it and may also take over weak electricity distribution utilities. (Ramesh Pathania/Mint)
The new public sector unit will focus on aggregating electricity demand in the country and cater to it and may also take over weak electricity distribution utilities. (Ramesh Pathania/Mint)

India's power demand surges to record high Wednesday

  • This assumes significance as the Indian economy has been battered by pandemic-induced disruptions. Energy consumption, especially that of electricity and refinery products, is typically linked to overall demand in the economy

Like peers in developed markets, said S&P, emerging markets central banks acted swiftly through a combination of lifting some regulatory requirements (particularly for problem loans recognition) and liquidity injection to help banks cope with the severe economic contractions.
Like peers in developed markets, said S&P, emerging markets central banks acted swiftly through a combination of lifting some regulatory requirements (particularly for problem loans recognition) and liquidity injection to help banks cope with the severe economic contractions.

Banking systems in emerging markets face deterioration in asset quality: S&P

Widespread immunisation, which certain countries might achieve by mid-year, will help pave the way for a return to more normal levels of social and economic activity, said S&P

A pedestrian walks past an ICICI Bank Ltd. branch in Mumbai, India, on Friday, Dec. 4, 2020. Home sales in India's commercial capital jumped to an eight year high in October, according to data from Knight Frank, marking an abrupt turnaround for a market that's spent three years in the doldrums after a�prolonged shadow banking crisis�strangled access to credit. Photographer: Dhiraj Singh/Bloomberg (Bloomberg)
A pedestrian walks past an ICICI Bank Ltd. branch in Mumbai, India, on Friday, Dec. 4, 2020. Home sales in India's commercial capital jumped to an eight year high in October, according to data from Knight Frank, marking an abrupt turnaround for a market that's spent three years in the doldrums after a�prolonged shadow banking crisis�strangled access to credit. Photographer: Dhiraj Singh/Bloomberg (Bloomberg)

ICICI Bank launches ‘InstaFX’ mobile app: Key features, other details explained

  • ICICI Bank is the first bank in the country to offer such facility to money changers
  • InstaFX mobile app allows authorised money changers to complete KYC verification of new customers digitally

Gaming gained prominence during the lockdown months, the Deloitte study found.
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