Bad Loans Likely To Rise Up To 9% By Fiscal-End: CRISIL

Gross non-performing assets (NPAs) of banks are likely to rise to 8 per cent to 9 per cent by the end of the current financial year, compared to 7.5 per cent of last year, rating agency CRISIL said in a report. The Coronavirus relief measures like restructuring and emergency credit line guarantee scheme will help in limiting the rise, it added. The rise in NPAs, said Krishnan Sitaraman, CRISIL’s senior director and deputy chief ratings officer, will be led mainly by retail clients and micro, small and medium enterprise (MSME)…

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SoftBank offers up to $40b investment for Indonesia’s new capital

Indonesia’s coordinating minister for maritime affairs and investments Luhut Pandjaitan said that Japanese conglomerate SoftBank would likely invest US$30 billion to US$40 billion for the development of Indonesia’s new capital city in East Kalimantan province, the Indonesian part of Borneo island, according to Bloomberg. The statement followed SoftBank CEO Masayoshi Son’s visit in Jakarta last week to meet President Joko Widodo. During the encounter that was also attended by Grab’s CEO and co-founder Anthony Tan, Son expressed his interest to fund “the new Jakarta.” Pandjaitan said the president will announce his…

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Amid falling interest rates on FDs, these 4 investment options offer up to 8.6% interest rate

New Delhi: The Reserve Bank of India has cut the repo rate for the fifth time in a row to give a further boost to consumption and private investment in a bid to revive growth as inflation remained within the central bank’s comfort level. The RBI cut the repo rate by 25 basis points to 5.15%. Following the suit, banks have cut interest rates on loans and fixed deposits (FDs). A fixed deposit is among the most preferred investment option among senior citizens and retirees. State Bank of India (SBI), the…

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China moves up date for lifting some restrictions on foreign investment to 2020

BEIJING – China lifted some restrictions on foreign investment in the financial sector Saturday as the world’s second-largest economy fights slowing growth at home and a damaging trade war with the United States. China will remove shareholding limits on foreign ownership of securities, insurance and fund management firms in 2020, one year earlier than originally planned, the Financial Stability and Development Committee said in a statement posted by the central bank. Foreign investors will also be encouraged to set up wealth management firms, currency brokerages and pension management companies, the statement…

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Unhealthy food at work may up risk of lifestyle ailments

Employees who purchase unhealthy food at office may indulge in such diet outside work as well, increasing their risk of lifestyle ailments such as obesity, diabetes and cardiovascular disease, a study suggests. A recently conducted study demonstrated that employees at a large urban hospital who purchased the least healthy food in its cafeteria were more likely to have an unhealthy diet outside of work, be overweight and obese. They also were more likely to have risk factors for diabetes and cardiovascular disease, compared to employees who made healthier purchases. These…

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Mental health patients detained in hospital wards for up to 21 years

 Library image. One patient at Birmingham and Solihull mental health NHS foundation trust spent 7,914 days – more than 21 years – in one of the wards. Photograph: Christopher Thomond/The Guardian A patient locked in a secure ward for more than 21 years is among hundreds of people with mental health problems being kept in what one MP has called “old-style asylums” in NHS hospitals, an investigation can reveal. Keeping people in so-called “locked rehabilitation wards” has been condemned as “outdated and sometimes institutionalised care”, by the NHS watchdog, with many patients…

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