India’s banks spent most of the last decade out in the wilderness, as a punishment for the lax underwriting standards on their corporate loans. Now they have regained their health, restored profitability and reestablished investors’ trust. The benchmark Nifty Bank Index is close to an all-time high. With everything going well, the lenders should be turning cautious. But recent full-year results show an opposite trend: Provisions for future loan losses are beginning to decline. This may not be prudent.
- India moving towards being included in global bond indexes.
- It’s a question of doing quite a few things before it can happen.
- We are in the process of doing that, I hope to do it at the earliest.
India sold Rs 24,000 crore ($3.2 billion) of bonds at a weekly auction as planned, the Reserve Bank of India said in a statement.
Asian regional superpowers India and China share a long history of mistrust and conflict along their lengthy border, and tensions flared up this week in a deadly clash between troops.
At least 20 Indian Army personnel were killed in violent face-off in Ladakh’s Galwan Valley, news agency ANI quoted government sources as saying. Multiple sources had earlier confirmed that the casualty figure was much more than three on the Indian side.