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BusinessReutersDebt revamp proposal to prolong Indian banks' asset quality uncertainty: Fitch
A one-time debt restructuring allowed by the Reserve Bank of India (RBI) to help lenders and borrowers amid the COVID-19 pandemic will prolong uncertainty about the banking sector's asset quality, Fitch Ratings said on Tuesday. The RBI said last week it will allow restructuring of corporate and personal loans to ease debt strains on companies and lenders, a move widely awaited by the banking industry. "The policy could open a window for banks to build capital buffers while putting off full recognition of the coronavirus pandemic's impact on loan portfolios, but is reminiscent of a strategy adopted over 2010-2016 that delayed and exacerbated problems for the banks," Fitch said.
NewsReutersFloods, coronavirus dent India's tea output in first half of 2020
India's tea production in the first half of 2020 fell 26.4% from a year ago to 348.26 million kilograms (kg) as heavy floods and coronavirus movement restrictions curbed output in the main producing region, the state-run Tea Board said in a statement. In June, India produced 138.52 million kilograms of tea, down 8% from a year ago as plucking was affected by floods in north-eastern state of Assam, the Tea Board said. Sujit Patra, secretary at Indian Tea Association said a recovery in the crop was unlikely in the second half of the year.
BusinessSingSaverInsurance Savings Plans: Singlife Account vs Etiqa Elastiq vs SingTel Dash EasyEarn
Featuring greater flexibility with high-interest yields, meet the new generation of insurance-savings hybrids. If you’ve ever been torn between saving money and having insurance protection, you’d be glad to know there are financial products that combine the two. These products — a type of universal […]The post Insurance Savings Plans: Singlife Account vs Etiqa Elastiq vs SingTel Dash EasyEarn appeared first on SingSaver Blog - We Compare, You Save.
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