Last week, a Fitch report estimated that Indian banks need around $15 billion of capital to meet a 10% weighted-average common equity Tier 1 (CET1) ratio. And if this doesn’t happen soon, the gap could rise to about $58 billion in FY22 given the high-stress scenario posed by the pandemic and the subsequent nationwide lockdown. “We expect the bulk of the stress to come through in FY22 due to the 180-day regulatory moratorium on the recognition of impaired loans, which will delay the full recognition of stress in the current financial year. State banks are likely to account for the bulk of the capital shortfall, as large private banks should stay above the minimum requirements, despite some capital erosion in a high-stress scenario,” said Fitch Ratings. But does the government have enough reserves to sail the PSBs across the pandemic-sea successfully? NDA’s bank recapitalisation A recapitalisation plan worth Rs 2.11 lakh crore was announced in October 2017. Of the … [Read more...] about Will FM write another cheque for public sector lenders?
Under the new rules, which came into force Monday, all those arriving in Britain - including UK nationals - will be asked to provide an address where they will self-isolate for 14 days. Travellers can be fined £100 for failing to fill in a form with these details. … [Read more...] about Air travel WAS a ‘major’ driver in spread of Covid-19 worldwide: Report warns Britain was a prime example of where constant flights letting travellers pour into the country ‘facilitated contagion’
"This is a typical Thomanian cross, which is plus-shaped. Thomanian Christians are those who trace their origins to the proselytising activities of St. Thomas, who was one of the 12 apostles of Jesus Christ. Later, Thomanian Christians intermixed with Nestorian Christians. Northern Pakistan had several Nestorian Christian settlements," Bhatti told the newspaper. The cross' discovery is expected to shed new light at the history of Christianity in northern Pakistan "before the advent of the colonial forces". … [Read more...] about Huge Centuries-Old Christian Cross With ‘Buddhist Influences’ Reportedly Discovered in Pakistan
According to KITU, several employees at Cognizant's offices in Bengaluru, Chennai and other cities had approached the union with complaints of having been forced to resign. The employees' body had accordingly resorted to legal action against the company and its management. … [Read more...] about Karnataka IT workers’ union initiates legal action against Cognizant over layoffs: Report
The company was looking to launch another 550 satellites by the end of the year, in addition to its 74 satellites already in orbit. After Starlink, which has over 500 satellites in operation and plans to launch at least another 50 this month, OneWeb has the second-largest low-earth-orbit satellite broadband network. … [Read more...] about UK govt forms JV with Bharti to compete with Elon Musk’s Starlink: Report